Biopharma Trends 2026

Key Takeaways

Management teams have no choice but to reimagine their business models across R&D, deal making, commercialization, manufacturing, and talent strategies.

• Near term, margins are under increasing threat at time when the industry is already underperforming.
• Longer term, a combination of scientific, technological, business, and geopolitical pressures is pushing companies to shift priorities in R&D and business development, despite persistent unmet patient needs. Such shifts add fuel to declining public perceptions.
• These questions and tradeoffs will affect margins, shape investments, push public approval or disapproval, and determine the winners and losers of the next decade.

Biopharma navigated challenges, uncertainty, and disruption in 2025. The industry continues to innovate, delivering...