Small Molecule Approved Licensing Benchmarks
Deal economics across 128 transactions with 63 disclosed upfront payments. Primary-source-verified from SEC EDGAR, FTC filings, and direct research.
Median Upfront
$1.2B
63 deals with terms
Median Total Value
$1.6B
Upfront + milestones
Royalty Range
10.3%--17.1%
Average low--high
Deal Count
128
2011--2026
The median upfront payment for approved small molecule licensing deals is $1.2B, based on 63 deals with disclosed terms from 2011--2026. Total deal values (including milestones) reach a median of $1.6B. Royalty rates typically range from 10.3% to 17.1%. All data is primary-source-verified from SEC EDGAR, FTC pre-merger filings, and company press releases.
Representative Transactions
| Licensor | Licensee | Year | Upfront | Total Value |
|---|---|---|---|---|
| Actelion | Johnson & Johnson | 2017 | $30.0B | $30.0B |
| Intra-Cellular Therapies | Johnson & Johnson | 2025 | $14.6B | $14.6B |
| Biohaven Pharmaceutical | Pfizer | 2022 | $11.6B | $11.6B |
Showing 3 of 63 deals with disclosed terms. Full comp set available in the report.
Full small-molecule Approved Comp Set
Get the complete analysis -- 63 deals with upfronts, milestones, royalties, and term structures.
Primary-source-verified from SEC EDGAR, FTC filings, and direct research
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This analysis draws from the Ambrosia Ventures proprietary deal database (1,600+ verified biopharma transactions, 2011--2026). All deal terms are primary-source-verified from SEC EDGAR (10-K, 10-Q, 8-K filings), FTC pre-merger notifications, FDA Orange Book, and company press releases. No secondary-source or scraped data is included. Medians are calculated from deals with disclosed financial terms only.