Despite steady innovation and solid new drug approvals, the first half of 2025 was marked by a break from historical norms in financing, stock performance, and M&A for the pharma and biotech sectors.
The Regeneron litigation highlights that donations routed through independent entities are not immune from challenge, especially if the government believes they are effectively covering a patient’s co-pay for a specific product.
The 15% tariff on pharmaceutical imports from the European Union is not a short term inconvenience, it represents a structural shift in the economics of the US pharmaceutical market.