In this week’s episode of “The Top Line,” Fierce checks in with professional services juggernaut KPMG on the biopharma rebound many industry watchers predicted in the closing months of 2025.

Fierce Pharma’s Fraiser Kansteiner sits down with Kristin Cirello Pothier, principal and U.S. and Americas region life sciences sector leader, as well as global deal advisory and strategy leader for health and life sciences at KPMG, to discuss the firm’s latest industry outlook. Pothier also explains how drugmakers are cutting through the noise and reflects on the technology, indication and valuation factors shaping today’s dealmaking appetite.

To learn more about the topics in this episode: 

• 2026 forecast: After a surge of M&A in Q4, will the trend continue?
• Halozyme catches M&A wave to snap up Surf Bio in delivery tech deal worth up to $400M
• Global pharma manufacturing output surged in '25 in 'front-loading' response to US tariff threats: report
• In quick reversal, Trump calls off tariff threat related to Greenland pursuit