Pharm Exec's 2025 State of the Industry Survey

Improved financing conditions and accelerating M&A are creating new opportunities, but policy uncertainty, patent expirations and persistent funding pressures continue to shape the outlook for pharma and biotech.

ESC 2026 marked a turning point — GLP-1s earn their first formal heart failure guideline recommendation and become a cardiometabolic platform.

CSL partners with Alentis Therapeutics to co-develop lixudebart, while Jiangsu Nhwa licenses a clinical-stage sleep disorder candidate to Somnivera.

Foghorn Therapeutics and Eli Lilly are discontinuing their SMARCA2 degrader Fhd-909 after Phase I data fell short on efficacy.

The FDA approves Roche’s Tecentriq for a subset of colon cancer patients, TRexBio and Retension Pharmaceuticals price new IPOs, and a Pharmaceutical Executive feature examines what it takes to turn precision medicine’s biological gains into deliverable therapies.

Astellas CEO Naoki Okamura is putting a “patient axis” operating model, a broader portfolio of strategic brands and a new generation of science to work in the company’s bid to return to record growth.

As established gains in personalized and targeted therapy have enabled increasingly precise approaches to disease, novel technologies are expanding what is possible while creating new challenges for drug developers.

TRexBio and Retension Pharmaceuticals priced IPOs, raising a combined $161.7 million to advance their immunology and hypertension pipelines ahead of their Nasdaq debuts.