After years of waiting out the market, Big Pharma is pulling the trigger on acquisitions as it stares down more than $400 billion in lost revenue from biosimilar competition. Merck & Co., which faces key patent losses for cancer megablockbuster Keytruda in 2028, has long been part of the M&A rumor mill, and this month announced its biggest deal in more than two years with the $10 billion purchase of Verona Pharma. Can the potential COPD blockbuster picked up in the acquisition carry Merck into its next wave of revenue growth? Execs hope so.

Even weight loss juggernauts like Eli Lilly are building up their coffers. While Lilly has a decent runway for its GLP-1 drugs Mounjaro and Zepbound, the company is two years away from losing exclusivity of its older diabetes blockbuster Trulicity, which pulled in more than $5 billion in sales last year. Last month, Lilly picked up cardiovascular biotech Verve Therapeutics in a deal worth up to $1 billion and announced plans to lay down $3.2 billion last year for immunology specialist Morphic Holding.

Today, we’re looking at three patent losses that are coming up even sooner — and what the companies that make those top-selling drugs are doing to ensure future growth.

Thanks for reading.