Blitz Bureau
NEW DELHI: India’s pharma and healthcare sector recorded 65 deals worth $13.9 billion in the second quarter of 2026, a report said on July 23.
Despite lower activity, overall deal values remained resilient, the report from Grant Thornton said. Excluding a $11.8 billion deal which was the largest overseas purchase by an Indian pharmaceutical company, overall deal values still rose 12 per cent over the previous quarter.
“The quarter reflects a clear strategic shift in India’s pharma and healthcare sector. Indian companies are increasingly pursuing acquisitions that strengthen specialty portfolios, expand global market access and build differentiated capabilities rather than scale alone,” said Bhanu Prakash Kalmath S J, Partner and Healthcare Industry Leader, Grant Thornton Bharat.
“Meanwhile, investor interest remains firmly focused on innovation-led healthcare businesses across areas such as AI-enabled care, genomics, oncology and advanced diagnostics. As healthcare delivery and life sciences continue to evolve, we expect strategic acquisitions and targeted investments to remain the key drivers of deal activity,” Kalmath added.
Mergers and acquisitions strengthened, with 35 deals worth $13.2 billion as transaction volumes increased 17 per cent quarter on quarter and values reached an all‑time high.
Outbound transactions accounted for 96 per cent of total M&A value, highlighting the growing global ambitions of Indian pharmaceutical companies as they expand specialty portfolios, strengthen innovation capabilities and increase their presence in regulated international markets.
Inbound activity also revived with four transactions, while domestic deals continued to account for the majority of M& A volumes.
