Biotechnology
Bayer's $2.45 billion acquisition of Perfuse Therapeutics signals a strategic shift in ophthalmology toward disease-modifying treatments that could reverse vision loss in glaucoma and diabetic retinopathy—conditions affecting over 200 million people worldwide.
Biotechnology
Cytokinetics' ACACIA-HCM Phase 3 trial just delivered the first statistically significant win in non-obstructive HCM. Here is what the data mean, why the disease has been so hard to treat, and what comes next for aficamten and the field.
Biotechnology
UCB's $2.2 billion acquisition of Candid Therapeutics signals a fundamental shift in autoimmune treatment strategy. T-cell engagers could reshape immunology the way CAR-T transformed oncology.
Pharmaceuticals
Sun Pharmaceutical's $11.75 billion acquisition of Organon marks a watershed moment in global pharmaceutical consolidation. The deal reveals how Indian drugmakers are evolving from generics suppliers into genuine global players, while exposing the structural pressures reshaping the industry.
Biotechnology
Kailera Therapeutics' record-breaking $625 million IPO marks a pivotal moment in the obesity drug market, signaling investor confidence in Chinese-origin drug pipelines and validating a new model for biotech fundraising.
Pharmaceuticals
Novo Nordisk launched Wegovy HD at $399 per month, undercutting Lilly's Zepbound by $50. The move signals a new phase in the GLP-1 market where pricing strategy and clinical differentiation are becoming inseparable.
Biotechnology
Gilead Sciences is acquiring German ADC biotech Tubulis for up to $5 billion, its third major oncology deal in 2026. The transaction reveals why antibody-drug conjugates have become the most fiercely contested technology platform in cancer drug development.
Policy
Trump's executive order imposing 100% tariffs on imported branded pharmaceuticals marks a structural turning point for the industry. Here is what the order actually says, who it protects, and what it risks.
Biotechnology
Eli Lilly's $6.3 billion acquisition of Centessa Pharmaceuticals signals a major pharmaceutical bet on orexin receptor biology and sleep medicine—revealing where the industry's capital is flowing beyond the GLP-1 wave.
Pharmaceuticals
Merck's enlicitide data from the CORALreef AddOn trial demonstrates that an oral PCSK9 inhibitor can achieve injectable-like LDL reductions of 64.6%, potentially transforming cholesterol management by eliminating the injection barrier that has limited patient access for over a decade.
Pharmaceuticals
Ionis Pharmaceuticals cuts Tryngolza's price by 93%, from $595,000 to $40,000 annually, signaling a strategic shift in rare disease drug pricing ahead of a broader indication approval.
Markets
There is a particular kind of corporate transaction that tells you more about where an industry is heading than any analyst forecast. Abbott's completion of its $21 billion acquisition of Exact Sciences on March 23, 2026 is one of those transactions. It is not simply a large deal