The Latest
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China competition
Drugs from China are reshaping biotech. Track the licensing deals here.
Roche’s deal with RNAi specialist SanegeneBio — which involves a $200 million upfront payment and $1.5 billion in future consideration — is its fourth licensing deal with a China-based drug developer since October.
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The roadmap to reliable in‑process testing for cell therapy success.
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Tracker
10 clinical trials to watch in the first half of 2026
After a lengthy downturn, the biotech industry finally gathered momentum in 2025. Key readouts in obesity, infectious disease and many rare conditions could help it continue.
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Amgen gives up on its once-prized eczema drug
The decision comes more than a year after disappointing initial Phase 3 results and casts further doubt on a class of autoimmune drugs thought to be challengers to treatments like Dupixent.
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China competition
AstraZeneca leans into obesity, striking wide-ranging alliance with China’s CSPC
The deal, which involves up to eight “next-generation” weight loss medications and could be worth more than $18 billion, ranks as the largest licensing pact of its kind since the start of 2025, according to BioPharma Dive data.
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News roundup
Moderna holds a ‘garage sale’; Roche defends obesity drug data
Moderna licensed out a rare disease drug for what an analyst called a “modest” sum. Elsewhere, Roche executives suggested better forthcoming obesity results and Summit’s PD-1/VEGF blocker got an FDA decision date.
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Q&A
Politicization runs deeper than ever at FDA, risking long-term impacts
A massive overhaul of staffing and review processes have left the agency appearing heavily driven by the Trump administration’s political agenda, according to an economist and public policy expert.
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Deep Dive // IPO window
Biotech IPOs are the industry’s lifeblood. Track how they’re performing.
Eikon Therapeutics, Veradermics, SpyGlass Pharma and Agomab Therapeutics are all scheduled to go public this week in what would be a rare burst of IPO activity for a sector that only priced 11 offerings last year.
Updated Feb. 2, 2026 -
China competition
AstraZeneca strengthens China ties with planned $15B investment
AstraZeneca’s investment will “span the value chain” of drug research and development and comes amid a prolonged surge in dealmaking activity involving large pharmaceutical companies and their counterparts in China.
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Regenxbio gene therapy trials suspended by FDA over safety worries
The development of a brain tumor in a study participant led regulators to suspend a Hurler syndrome therapy in early testing and a treatment for Hunter syndrome nearing an FDA decision.
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Vaccines
Sanofi expects vaccine sales growth to dip amid ‘challenging environment’
On a conference call, executives cited “confusion” and declining vaccination rates in the U.S. while discussing a quarterly sales decline and anticipated slower growth in 2026.
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Emerging biotech
Tenpoint wins FDA nod for combination presbyopia eye drop
The biotech also raised $235 million in debt and equity funding to support marketing of the drop, which it claims to be an advance over existing treatments from AbbVie and others.
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Obesity drugs
Roche, trailing in obesity, showcases new data for GLP-1 shot
A drug Roche acquired in a multibillion-dollar deal could be as effective as Zepbound, but may struggle to stand out in a crowded field, analysts said.
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Gene editing
Lilly bets on Seamless, delving further into genetic medicine for hearing loss
The potentially $1 billion alliance centered around a flexible gene editing technology adds to a portfolio of cutting-edge treatments the company is developing for hearing disorders.
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Deep Dive
5 questions facing biopharma in 2026
The biopharmaceutical sector finally regained its footing in 2025. Here are five issues that could determine whether the renewed optimism will carry over into the new year.
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Trump administration
Drugs for cancer, arthritis and HIV on Medicare’s list for 2028 price cuts
Still, the medications in the latest round of negotiations — which now includes “Part B” drugs given in doctors offices — draw very limited revenue from Medicare, an analyst pointed out.
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China competition
China’s edge in early-stage drugmaking ‘likely to persist,’ Pitchbook says
The ongoing surge in licensing deals for early drug prospects should continue this year and involve more cell and gene therapies, which have had trouble securing funding in the U.S., the firm said in a new report.
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News roundup
Halozyme buys a biotech startup; Cytokinetics launches heart drug
Halozyme is paying as much as $400 million for a drug delivery specialist that could boost its growth prospects, one analyst wrote. Elsewhere, Boehringer dipped into China for a bispecific drug and a trans-Atlantic VC firm restocked.
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Gene editing
FDA lifts hold on an Intellia CRISPR drug trial
Intellia is instituting new safeguards following the death of a study participant that led regulators to pause two trials in people with transthyretin amyloidosis. One of those tests remains suspended.
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An immune drug developer raises $50M to finance its eczema drug testing
TRex Bio banked a Series B extension to advance its atopic dermatitis program, which is competing in a crowded field.
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Sarepta, battling slowing sales, claims Duchenne gene therapy’s impact grows with time
On a Monday conference call, Sarepta CEO Doug Ingram said new long-term data should help “rebalance the discussion” surrounding Elevidys.
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IPO window
Biotech investor Cormorant secures $150M for another SPAC deal
Amid a rebound in SPAC activity, the prolific “crossover” investor is aiming for its third blank-check merger since 2022 following deals with Moonlake Immunotherapeutics and BridgeBio Oncology Therapeutics.
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Sanofi to seek approval of touted eczema drug despite mixed results
Fresh data from multiple studies suggest the drug, which Sanofi has billed as a future blockbuster, could be cleared in the U.S. but has murky sales prospects.
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News roundup
Novo climbs higher on ‘strong’ Wegovy pill launch; Terns tweaks leukemia drug deal
Novo shares have surged more than 20% amid oral Wegovy’s fast start. Elsewhere, Terns opened up room for a potential partnership and Corcept solidified its case for an ovarian cancer drug.
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Express Scripts considering settlement in FTC insulin price lawsuit
The antitrust agency paused its lawsuit against the pharmacy benefit manager while the two discuss a proposed consent agreement.
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Startup launches
BioMarin vets form Mendra to ‘modernize’ rare disease drug development
Backed with $82 million and led by two of BioMarin’s former executives, Mendra plans to acquire rare disease assets and use AI to help accelerate their development.