BioPharma Dive January 12, 2026
Four recent deals fueled more angst about China’s biotech progress, while Pfizer, Bristol Myers and Sarepta all worked to appease jittery investors.
SAN FRANCISCO — The Bay Area is no stranger to gray skies. And for the past several years, neither was the biotechnology industry.
A historic market downturn has weighed heavily on drug developers since early 2021, causing many to tighten their belts, lay off staff and trim research programs. Only in the last six or so months have the clouds started to part. One key measure of the sector’s health, larger acquisitions, rose significantly in the back half of 2025, providing the kind of returns and spectacle that encourage investors to put in more money.
Heading into...
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