The Latest
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Deep DiveBiotech M&A is accelerating. Track the deals that are happening here.
Neurocrine’s bid for Soleno caught some analysts by surprise, as the purchase price has a per-share value substantially lower than what Soleno was worth less than a year ago.
Updated 6 hours ago -
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Sponsored by InComm InCentivesPerks persuade participants
The right incentive program can boost clinical trial enrollment and engagement.
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White House seeks 12% cut to HHS in 2027
The Trump administration is requesting about $111 billion in discretionary funding for the HHS, nearly $16 billion less than its budget in 2026.
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Obesity drugsFDA approves Lilly obesity pill, triggering battle with Novo Nordisk
Foundayo could erase the Wegovy pill’s four-month head start as the two drugmakers clash on a debate of efficacy and convenience.
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Q&ABiogen, on the heels of a $5.6B buyout, turns its sights to early-stage assets
In an interview, Chief Financial Officer Robin Kramer said the combined cash flow from Biogen and Apellis will not only help debt leverage ratios but also free up capacity to do other strategic deals.
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Immunovant eye drug flunks Phase 3 studies; Beam sickle cell data published in NEJM
Shares of Immunovant, Alto and Oric Pharmaceuticals fell this week on clinical trial updates. Elsewhere, Orca Bio’s cell therapy hit a delay and Korsana entered a reverse merger.
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mRNA is poised to rise beyond infectious diseases, if it’s not derailed by R&D cuts
Research into areas like cancer could become collateral damage of a broader anti-mRNA push, according to a new study.
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Pfizer, BioNTech to pause COVID vaccine study due to low enrollment
The trial is tied to a post-marketing commitment that FDA Commissioner Martin Makary put in place last year for all approved COVID vaccines.
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IPO windowBiotech IPOs stayed at slow pace, but grew larger in the first quarter of 2026
The six companies that have priced initial public offerings so far banked a median of $287.5 million, a figure far surpassing what’s been observed over a similar timeframe in prior years, according to BioPharma Dive data.
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Brain drug revivalLilly beefs up neuroscience pipeline with $6.3B Centessa buyout
The deal secures two sleep disorder drugs that would fill a hole in the company’s portfolio and intensify a competition with Takeda and Eisai.
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Permission granted by Biogen
Biogen, with $5.6B Apellis buy, builds out immunology offerings
Chief Financial Officer Robin Kramer explained how the deal not only provides two marketed products, but a team with nephrology expertise that will be valuable as Biogen prepares to launch felzartamab.
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Ambrosia adds a megaround for obesity drugs
The $100 million Series B round will be used to bring the biotech’s oral GLP-1 into early human testing.
Updated April 1, 2026 -
Adeline Kon/BioPharma Dive
Deep Dive // IPO windowBiotech IPOs are the industry’s lifeblood. Track how they’re performing.
Kailera Therapeutics’ planned IPO would be the first offering for an obesity drugmaker in 2026. The last two metabolic disease-focused companies to go public were Aardvark Therapeutics and Metsera, the latter of which was acquired by Pfizer.
Updated March 30, 2026 -
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Blackstone closes $6.3B fund for life sciences investing
It's the biggest life sciences private fund ever raised, coming in nearly 40% larger than its Blackstone predecessor vehicle.
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Merck strikes deal with antibody discovery startup
In an R&D collaboration worth as much as $838 million, Merck will lean on Infinimmune to discover immune cell-directed antibodies for multiple targets.
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Viridian tumbles on positive data for key eye drug prospect
The data did not meet investor expectations, and could bring “fierce investor debate on commercial feasibility,” according to an analyst.
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Adeline Kon/BioPharma Dive/BioPharma Dive
Deep Dive // Emerging biotechBiotech startups are built on venture capital. Track funding rounds here.
OrbiMed and RA Capital — which teamed up last week to back oral peptide drugmaker Pinnacle Medicines — have been the most active investors this quarter among the firms tracked by BioPharma Dive.
Updated March 26, 2026 -
Permission granted by Kailera Therapeutics
Obesity drugmaker Kailera plans an IPO
The company, led by Ron Renaud, raised $1 billion in venture funding to develop a competitor to Wegovy and Zepbound that’s now in late-stage testing.
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Kendall Davis/BioPharma Dive
Tracker10 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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Courtesy of Sanofi
Sanofi eczema drug weighed down by mixed results, safety concerns
Despite hitting key goals across three late-stage studies, the drug, which targets the “OX40” ligand, raises safety and efficacy questions that had at least one analyst lower his sales forecast.
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China competitionDrugs from China are reshaping biotech. Track the licensing deals here.
Sanofi reached a deal for rights to a drug already on the market in China, while UCB is the latest to bet on the ability of T cell engagers to treat autoimmune conditions.
Updated March 4, 2026 -
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Lilly’s AI commitment expands through deal with Insilico
A collaboration “across multiple therapeutic areas” could net the Hong Kong-based biotech more than $2 billion as Lilly seeks to sustain its industry lead.
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News roundup
United rises on IPF results; Biogen scores positive lupus data and an approval
Tyvaso, a marketed PAH therapy from United Therapeutics, continued to show potential in another lung condition. Elsewhere, Aurinia inked an acquisition and Lilly built its case for Ebglyss.
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Courtesy of Novartis
Emerging biotechNovartis targets Xolair successor in buyout of startup Excellergy
Worth up to $2 billion, the deal is centered around a drug that could lead to faster and more complete control of allergic conditions than Novartis and Roche’s popular medicine.
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AstraZeneca lung drug gets ‘surprise’ win in COPD trials
The treatment, tozorakimab, succeeded where other similar therapies failed and could help a broader group of COPD patients than Dupixent.
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Brain drug revivalOtsuka picks up PTSD drug with $700M Transcend buy
The buyout, which includes another $525 million in floated payouts, hands Otsuka a medicine it sees as a possibly “paradigm-shifting therapy” in psychiatry.
