Biotech M&A Heats Up: Cosette’s $430M Mayne Pharma Acquisition and Industry-Wide Stock Buybacks

Cosette Pharmaceuticals has agreed to acquire Mayne Pharma for approximately USD $430 million, strengthening its position in women's health and dermatology markets2 4 6.

The Cosette-Mayne Pharma deal is expected to close in the second quarter of 2025, subject to shareholder and regulatory approvals2 4.

Several biotech companies have announced stock buyback programs:

Cytek Biosciences approved a $50 million stock repurchase program for 20251 8.
Sanofi initiated a share buyback program of up to €2 billion, to be executed between February 7, 2025, and December 31, 20255.
Exelixis authorized a $500 million stock repurchase program to be completed by December 31, 202510.

The biotech M&A market is expected to surge in 2025, driven by factors such as:

Large pharmaceutical companies facing patent cliffs and seeking to bolster their pipelines3.
The top 25 biopharma companies having $1.3 trillion in "firepower" reserved for M&A deals3.
Anticipated falling interest rates and post-election economic certainty3.

The 2025 JP Morgan Healthcare Conference saw significant deals, including J&J's $14.6 billion acquisition of Intra-Cellular Therapies, indicating early signs of M&A recovery in the sector3.