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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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    Sponsored by Catalent

    Navigating the complexities of Cell and Gene Therapy supply chains

    Turning complex CGT logistics into certainty—keeping therapies moving to patients.

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    Seres to lay off staff, pause top program in latest reboot

    The microbiome specialist, which for years has struggled to stay afloat, is cutting its staff by 30% and focusing resources on earlier, immunology-focused research.

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    China competition

    Madrigal turns to RNAi drugs from China to bolster MASH pipeline

    The potentially $4.4 billion deal is Madrigal’s second with a China-based biotech and hands the company six preclinical RNA interference medicines for the common liver condition.

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    News roundup

    Evommune rockets on eczema data; AstraZeneca advances GLP-1 pill

    Shares of Evommune nearly doubled on data suggesting it has a potential threat to Dupixent. Elsewhere, a closely watched narcolepsy drug got an FDA decision date and investors scrutinized Upstream’s asthma results.

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    Kevin C. Cox via Getty Images
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    Trump administration

    CDC moves to cut $600M in grants to Democrat-led states

    The cut grants, which were viewed by Healthcare Dive, fund a wide swath of areas including workforce initiatives, STI prevention measures, health equity proposals, pediatric clinician training and others in California, Colorado, Illinois and Minnesota.

    FDA
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    Sarah Silbiger via Getty Images
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    FDA rejects Regenxbio treatment in another blow to gene therapy

    The decision comes two weeks after the agency halted testing due to safety concerns and represents the latest regulatory setback for a gene therapy maker.

    FDA
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    Nektar, continuing comeback, says eczema drug’s effects hold up in follow-up study

    The results vaulted Nektar’s market value to over $1 billion amid expectations the drug might prove a challenger to widely used medications like Dupixent. 

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    Obesity drugs

    Hengrui, Kailera tout positive results for dual-acting obesity pill

    Kailera CEO Ron Renaud claimed the weight loss effects and safety profile observed in the study suggest its therapy could eventually become a “differentiated treatment option” compared to other obesity pills.

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    Emerging biotech

    Takeda, Iambic partner in latest pharma AI push

    “The winners over the next five years” will be the companies that “fully integrate” artificial intelligence into drug development, said Takeda research chief Andy Plump.

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    Immune reset

    Lilly buys ‘in vivo’ CAR-T maker Orna, extending streak of genetic medicine deals

    Worth up to $2.4 billion, the acquisition is also the latest in a series of buyouts involving startups with technologies that modify immune cells inside the body. 

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    Kevin Frayer via Getty Images
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    China competition

    Drugs from China are reshaping biotech. Track the licensing deals here.

    Madrigal has turned to China-based biotechs twice in the last year to fill its pipeline, first via an obesity-focused alliance with CSPC and this week through a bigger, MASH-centered deal with Suzhou Ribo.

    Updated 5 hours ago
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    Nathan Howard via Getty Images
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    Trump administration

    White House’s online service for drug sales debuts with limited impact on prices

    Select products from Pfizer, Eli Lilly and others will be sold at a discount, although the lower costs won’t be felt by many Americans whose medications are covered by insurance.

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    News roundup

    Lilly bets again on China drugs; Roche showcases MS data

    Lilly could pay Innovent Biologics up to $9 billion in a new alliance. Elsewhere, Roche tried to assuage investor concerns about its new multiple sclerosis drug and Roivant shares surged.

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    News roundup

    Earnings roundup: AbbVie angst, a bifurcated vaccine market and Bristol Myers’ waiting game

    Vaccine makers are seeing sales declines in the U.S. and upswings in Europe. Elsewhere, investors fretted over an AbbVie franchise and Bristol Myers pointed to a trio of narrative-changing trials.

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    IPO window

    Eikon Therapeutics nets a $381M IPO amid burst of biotech offerings

    Eikon’s offering ranks as the largest new biotech stock issuance since Acelyin’s $540 million haul nearly three years ago.

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    IPO window

    Agomab, SpyGlass bank a combined $350M in biotech IPOs

    The two offerings capped off the busiest week for new biotech stock issuances in a year.

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    Obesity drugs

    Novo, Lilly sputter as Hims launches knockoff GLP-1 pill

    Novo is threatening litigation in response, while FDA head Martin Makary, without naming specific companies, said the agency would take “swift action” against those “mass-marketing illegal copycat drugs.”  

    Updated Feb. 6, 2026
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    Bayer details anticipated stroke prevention data for new blood-thinner

    Asundexian cut the risk of an additional stroke by 26% in a large Phase 3 trial without accompanying safety issues, boosting the commercial outlook for an emerging class of anti-clotting drugs.

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    Adeline Kon/BioPharma Dive
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    Deep Dive

    Biotech M&A is accelerating. Track the deals that are happening here.

    The roughly $30 billion deal Merck had been discussing with Revolution Medicines before talks reportedly fell apart would’ve ranked as the largest drug company acquisition since Pfizer’s buyout of Seagen.

    Updated Jan. 26, 2026
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    News roundup

    Earnings roundup: Amgen vs. FDA, Pfizer’s defense and Merck’s $70B-in-sales plan

    Amgen is refusing U.S. regulators’ request to withdraw an inflammatory disease drug. Elsewhere, Pfizer battled skepticism on new obesity drug data, and Merck laid out its post-Keytruda future.

  • Mike Nally, CEO of Generate Biomedicines, stands in one of the company's labs.
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    IPO window

    Generate, an AI-driven Flagship startup, pitches an IPO

    The biotech, which raised more than $800 million privately on the promise of artificial intelligence-aided drug discovery, is developing a potential competitor to the asthma treatment Tezspire.

  • A white sign with the word Lilly written in red stands outside of an office.
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    Scott Olson via Getty Images
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    Obesity drugs

    Lilly soars again as fast-selling weight loss drugs top Wall Street projections

    Despite some angst over pricing pressure for GLP-1 drugs, Lilly’s bullish projections surpassed consensus estimates, while combined 2025 sales of Zepbound and Mounjaro eclipsed $36 billion.

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    Deep Dive // IPO window

    Biotech IPOs are the industry’s lifeblood. Track how they’re performing.

    Veradermics, Eikon Therapeutics, Agomab Therapeutics and SpyGlass Pharma collectively raised more than $1.2 billion over the course of three days, and all either met or exceeded their offering targets.

    Updated Feb. 4, 2026
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    Novo shares tumble by double digits on grim sales outlook

    In contrast to Lilly’s optimistic forecasts, Novo cited pricing constraints and competitive pressure in predicting up to a 13% decline in 2026 profits. 

  • The Federal Trade Commission entrance is seen in 2025 in Washington, DC.
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    Express Scripts reaches ‘landmark’ settlement with FTC in insulin suit

    The agreement announced Wednesday includes sweeping changes to the Cigna PBM’s business practices, including no longer preferring expensive drugs over cheaper equivalents on standard formularies and reshoring its controversial rebate aggregator.

    Updated Feb. 4, 2026