Plus biotech's top money raisers of 2024

This Week

Mar 7, 2025

UPDATE: DOGE quietly decreases savings estimate for 30 terminated FDA leases


UPDATE: Bristol Myers' cost-savings drive claims another 280 jobs in US


Special Report—Biotech's top money raisers of 2024


Trump's 'America First' investment policy raises uncertainty for US-China biotech dealmaking


Pfizer could shift overseas production to US if Trump's pharma tariffs take hold, CEO says


China bans sales of Illumina DNA sequencers as Trump escalates global tariffs

 

Featured

UPDATE: DOGE quietly decreases savings estimate for 30 terminated FDA leases

Under President Donald Trump’s administration, the Department of Government Efficiency has reportedly terminated leases for at least 748 federal sites, including 30 FDA facilities across 23 states.
 

Top Stories

UPDATE: Bristol Myers' cost-savings drive claims another 280 jobs in US

Beginning in late May, BMS will lay off 223 workers in Lawrenceville, New Jersey, where the company hosts its corporate headquarters, as well as a facility for commercial and late-stage development work. Separately, the company is laying off 57 employees at a research site in California. The downsizing initiative is part of BMS’ broader effort to cut costs.

Biotech's top money raisers of 2024

After a rocky two years, money has started flowing back to biotech, with the return of the megaround exemplified in top moneymaker Xaira’s $1 billion fundraise.

Trump's 'America First' investment policy raises uncertainty for US-China biotech dealmaking

A new policy from President Donald Trump aims to restrict both inbound and outbound investments related to China in certain strategic industries, including biotechnology.

Pfizer could shift overseas production to US if Trump's pharma tariffs take hold, CEO says

Pfizer’s local manufacturing setup is already well positioned in the U.S., and the New York-based drugmaker could bring additional resources into the country if pharma import tariffs proposed by President Donald Trump take effect, the company's CEO, Albert Bourla, Ph.D., said Monday.

China bans sales of Illumina DNA sequencers as Trump escalates global tariffs

Illumina has been barred from exporting its DNA sequencers to China, which closed its doors to the company in response to the Trump administration expanding its tariffs on the country.

Eli Lilly feels Magnet's pull with molecular glue deal potentially worth $1.25B

The molecular glue wave that first began years ago is still swelling, with Eli Lilly earmarking approximately $1.25 billion to develop new versions of the sticky molecules in collaboration with Magnet Biomedicine.

Lilly promotes 'healthy skepticism' toward compounded drugs in new Oscars ad campaign

Once again, Eli Lilly is using Hollywood’s biggest night as a platform to speak out on a hot-button issue in pharma.

Want a piece of Lilly's $27B US manufacturing investment? Please send your application

Eli Lilly has established an online portal to accept submissions for possible locations of future U.S. manufacturing sites.

Blackstone buys majority stake in CMIC, Japan's largest contract research organization

Private equity giant Blackstone is going big on Japan, acquiring a majority stake in the country’s leading contract research organization.

NIH cancels some grants for LGBTQ+ health research effective immediately: Stat

Several scientists studying LGBTQ+ health issues have had their grants from the National Institutes of Health canceled effective immediately, according to a March 3 report from Stat.
 
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