Traditional Pharma Giants Rush to Acquire Innovative Assets in 2026 as M&A Becomes the New Norm

　　【Pharmaceutical Network Industry DynamicsRecently, generic drug company Amneal Pharmaceuticals announced the acquisition of biosimilar company Kashiv for $750 million upfront plus $350 million in potential milestone payments. The deal is expected to be completed in the second half of the year.
 

Public information shows that Kashiv is one of the few innovative biopharmaceutical companies in the U.S. with end-to-end capabilities in biosimilar research and development, production, and approval. It has a commercial / late-stage clinical pipeline, production bases in the U.S. and India (25,000 liters capacity, expanding to 75,000 liters by 2028), FDA approval experience, and covers key biopharmaceutical targets in oncology, immunology, and endocrinology.
 

Through this acquisition, Amneal aims to enter the high-barrier biosimilar market from chemical generics, addressing R&D, production, and compliance gaps to build an integrated global biosimilar platform. If the acquisition proceeds smoothly, Amneal expects to market multiple biosimilars by 2027 and more blockbuster drug biosimilars by the end of 2029.
 

Notably, the industry regards this acquisition as a typical example of generic drug companies transitioning towards high-end development. As a leading player in the U.S. generics market, Amneal will gain "end-to-end" biosimilar research, development, and production capabilities through the acquisition of Kashiv. In fact, in recent years, many generic drug companies have been striving to break away from the “low-margin, homogenized” red ocean of generics by pursuing acquisitions, aiming to fully advance into the innovative “high technical barrier, high return” blue ocean.
 

As of April 26, 2026, Sun Pharmaceutical Industries announced that it has agreed to acquire Organon & Co. (OGN.US) through an all-cash transaction, valuing the company at $11.75 billion.
 

Organon, a company spun off from Merck, focuses on women's health, established drugs, and biosimilars. This acquisition is part of Sun Pharma's strategy to "develop innovative pharmaceutical businesses," which will help expand its international footprint and enhance new capabilities in the fields of women’s health and biosimilars. It will also increase its exposure in branded generics and established drugs while strengthening its position in developed markets such as the United States and Europe.
 

April 3, 2026 News: Lupin Ltd. announced that its wholly-owned subsidiary Nanomi B.V. has signed a definitive agreement to acquire VISUfarma B.V. VISUfarma is a European specialty pharmaceutical company focused on the ophthalmology field. This acquisition marks an important milestone for Lupin in deepening its global specialty business development and strengthening its strategic layout in the European market.
 

It is reported that by integrating VISUfarma, Lupin's ophthalmology portfolio has significantly expanded to over 60 branded products, covering areas such as dry eye, glaucoma, eyelid cleansing, blepharitis, retinal health, and specialty nutritional supplements.
 

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Overall, the competition among generic drug companies has shifted from the previous era of competing on cost and production capacity to competing on target discovery, technology platforms, and clinical data. In the future, leading generic drug companies with cash, channels, and determination are expected to accelerate their efforts to capture the high ground in innovative drug development through capital means.
 

　　Disclaimer: In no event shall the information or opinions expressed in this article constitute investment advice to any person.