The Latest
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Deep Dive
Biotech M&A is accelerating. Track the deals that are happening here.
AbbVie’s $10.9 billion acquisition of Apogee Therapeutics is the year’s second-largest biotech buyout and the company’s biggest since its $63 billion takeover of Allergan in 2019.
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Sponsored by Walgreens
The first 14 days: How specialty programs set patients up for success
As specialty medicines play a growing role in healthcare, the patient journey that follows is equally critical.
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UniQure to file gene therapy for approval, reflecting major shifts at FDA
The decision marks another regulatory U-turn following the exits of Marty Makary and Vinay Prasad, suggesting to some analysts that current FDA leadership may be more flexible in certain cases.
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Biogen adds more immune drugs in $1B buyout of secretive startup RayThera
The companies didn’t specify the drugs Biogen is acquiring in the deal, though patents RayThera secured provide important clues.
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Startup launches
cAMPfield lands $180M to build gut disease drug
The biotech is advancing an anti-inflammatory drug that originated with vTv for inflammatory bowel diseases, leaning on a better side effect profile.
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News roundup
Pfizer CFO to step down; Denali sells a regulatory fast-pass
A search is underway for a successor to Dave Denton, who took a job outside the pharmaceutical industry. Elsewhere, a new kind of Duchenne gene therapy got venture backing and a GSK deal paid dividends.
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IPO window
Kardigan extends biotech’s streak of big IPOs with $400M haul
Including the heart drug developer’s offering, four biotechs in 2026 have raised at least $400 million in IPO proceeds — the most in a single year since 2021, according to BioPharma Dive data.
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Startup launches
A new Westlake-backed biotech takes aim at migraines
Vedana Therapeutics emerged from stealth Wednesday with $46 million to support its mission of developing “anti-PACAP” therapies, an increasingly popular strategy for migraine prevention.
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Jazz zeroes in on next-gen T cell engagers with AbCellera deal
The potentially $4 billion collaboration is the latest example of drugmakers working to broaden the use of T cell engagers, which, so far, have had limited success outside of certain blood cancers.
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Deep Dive // IPO window
Biotech IPOs are the industry’s lifeblood. Track how they’re performing.
This year’s IPO class has already accounted for five of the six largest new biotech stock offerings since the start of 2022, according to BioPharma Dive data.
Updated June 17, 2026 -
Vaccines
FDA staff scrutinizes evidence supporting Moderna’s flu vaccine
Ahead of a Thursday advisory panel meeting, agency scientists highlighted shortcomings in data accrued for a vaccine the FDA controversially refused to even review earlier this year.
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Q&A
Rapport ‘fully prepared’ to launch seizure drug solo, CEO says
In a wide-ranging interview, Abe Ceesay detailed how Rapport built an investor syndicate and why the company is confident it can join the ranks of successful, commercial-stage brain drugmakers.
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Pain drugs
Lilly buys non-opioid pain drugmaker 4E
It’s the latest in a string of deals for Lilly, which has sunk more than $18 billion into acquisitions over the past few years.
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Edgewise heart drug passes key trial test
Still, the results leave somewhat unclear how different the company’s drug is than marketed hypertrophic cardiomyopathy medicines from Bristol Myers Squibb and Cytokinetics.
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J&J multiple myeloma drug gains edge in earlier stage disease
The latest results studying Talvey in combination with Darzalex Faspro support J&J’s efforts to expand the immunotherapy's use.
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News roundup
Neumora depression drug fails; EnGene to cut 50% of staff
Neumora’s stumble is the latest setback for a once-promising class of brain drugs. Elsewhere, a cell therapy manufacturing specialist took steps toward an IPO and J&J made its latest U.S investment.
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Express Scripts, PCMA sue to block Tennesee law breaking up PBMs and pharmacies
Express Scripts and the PBM lobby are following in CVS Caremark’s footsteps in filing complaints challenging the FAIR Rx Act, which was passed earlier this year despite vehement opposition from PBMs.
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Medicare drug price rule may target under-the-skin Keytruda and Opdivo
For 2029, a federal rule proposes closing a "loophole" that protects medicines transitioning from intravenous administration from price protection.
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China competition
Amid a flurry of biotech deals, China looks to keep innovation at home
The country’s new regulatory pathway promises to accelerate access to advanced therapies for Chinese patients, but may change the licensing game for foreign companies.
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Lilly scores early positive data for new JAK drug
Acquired through its purchase of Ajax, the drug showed encouraging effects in patients with hard-to-treat myelofibrosis. To analysts, such results could lead to competition for Incyte’s Jakafi.
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IPO window
Parabilis sets a record with a $670M biotech IPO
The largest-ever new stock sale for a venture-backed biotech company extends a streak of large IPOs in 2026 that’s now resulted in 12 drug startups securing more than $4.1 billion combined.
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Takeda’s $4B TYK2 drug tops Bristol Myers’ Sotyktu in head-to-head test
The results support Takeda’s long-held belief in zasocitinib’s superiority and could help it gain a commercial advantage over Bristol’s therapy.
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Novartis RNA drug acquired in $12B Avidity deal notches a trial win
The data showed that del-brax, an “antisense oligonucleotide conjugate” being tested against a muscle-wasting disease, met its primary endpoint in a Phase 1/2 study.
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Obesity drugs
ADA ‘26: Lilly’s dominance, Pfizer’s ‘foundational’ drug and Roche’s ‘me-too’ option
At a big meeting for weight loss drugs, Lilly’s “triple G” therapy set a new standard as lingering doubts surrounded other competing treatments.
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J&J looks to widen Imaavy’s use; $300M backs rare disease drug launch
New data suggest Imaavy could be an effective treatment for autoimmune anemia. Elsewhere, Enliven detailed data for a Merck leukemia rival and MBX hyperparathyroidism drug hit its goal.
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Summit pulls $500M share sale a day after announcing it
The developer of a leading PD-1/VEGF cancer drug cited “market conditions” for the cancellation. Its shares have struggled to break out following data milestones.