👋 Good morning! Trump’s tariffs just put pharma in the splash zone.

President Trump is threatening sweeping new tariffs on European allies starting February 1, with rates jumping again in June. On the surface, it sounds like another trade spat. Underneath, it is a direct hit to Europe’s biggest export to the U.S., pharmaceuticals.

Medicines are now the EU’s top export category to America, topping machinery and chemicals by a wide margin. Markets noticed. Novo Nordisk, Roche, and Sanofi all dipped on the news, a reminder that drug pricing power does not mean immunity from geopolitics.

💰 Boston Scientific Drops $14.5B to Buy Penumbra
Boston Scientific capped a busy JPM week by agreeing to acquire Penumbra in a cash and stock deal valuing the medtech at $374 per share. The $14.5 billion buyout brings thrombectomy devices into Boston’s portfolio and signals that large strategic M&A is still alive.

🙊 Sanofi Rumors Send Ocular Therapeutix Flying
Takeover chatter around Sanofi and Ocular Therapeutix sent Ocular shares up more than 20 percent in premarket trading last Thursday. The eye disease biotech’s $2.4 billion valuation is driven by Axpaxli, a long-acting wet AMD asset that could challenge Eylea and Vabysmo. Sanofi says it does not comment on rumors…

🧬 AstraZeneca Locks Down Global Rights to CAR-T
AstraZeneca agreed to pay up to $630 million to secure full global rights to its GPC3-targeted armored CAR-T therapy, buying out remaining China rights from AbelZeta. The move simplifies ownership, tightens control, and reinforces AstraZeneca’s long-term bet on cell therapy beyond Western markets.

⚖️ New York Sues Former Emergent CEO Over Pandemic Trades
New York’s attorney general filed an insider trading lawsuit against former Emergent BioSolutions CEO Robert Kramer. The state alleges Kramer sold more than $10 million in shares after learning about vaccine contamination issues but before they became public. The case reopens an ugly chapter from the COVID manufacturing scramble that never fully closed.

📈 The IPO Window Cracks Open Again
Immunology biotech Agomab and eye-focused SpyGlass Pharma filed to go public, following Aktis Oncology’s strong $318 million debut earlier this month. Details are still light, but momentum is building. After two quiet years, the biotech IPO market looks to be heating up again.

✌️ Oxford Biomedica Weighs a PE Exit
Oxford Biomedica confirmed it is in early discussions with private equity firm EQT after rejecting prior offers as too low. The viral vector specialist now has until February 11 for EQT to either make a formal move or walk away. Translation: the clock is officially ticking.

🧬 ImmunityBio Shows 15-Month Complete Responses With CAR-NK.
Two patients with Waldenstrom macroglobulinemia remain in complete remission up to 15 months after chemotherapy-free CAR-NK treatment, sending shares up 35 percent.

💰 Novo Nordisk Foundation Commits $860M to Homegrown Biotechs.
The foundation is pouring fresh capital into Denmark’s BioInnovation Institute to scale startups and deep tech, doubling down on ecosystem building over one-off bets.

💉 Alfasigma Pays €125M ($145M) for Injectable HSV Encephalitis Drug.
The Italian pharma licensed a parenteral version of adibelivir, targeting a rare but deadly herpes complication where speed matters more than convenience.

🙌 J&J’s Tecvayli Wins Again, This Time Solo.
The BCMA bispecific cut progression risk by 71 percent as a monotherapy in multiple myeloma, strengthening its case beyond combo regimens.

⚖️ FDA Orders Seizure Warnings Added to Flu Vaccines.
Six long-approved flu shots must now include labeling about rare childhood febrile seizures, a reminder that post-market safety never really ends.

❌ Vedanta Slashes Staff to Focus on Phase III C. diff Trial.
The biotech cut roughly half its workforce while furloughing most of the rest as it races to keep its lead program alive amid funding pressure.

😢 AbbVie and Genmab Miss OS Endpoint in Lymphoma Study.
Their bispecific Epkinly failed to significantly improve overall survival in a phase III DLBCL trial, a tough reminder that late-stage data still bites.

For months, President Trump teased concepts of a plan. Last week, the White House finally dropped a name and a document. The Great Healthcare Plan is framed as a consumer-first overhaul that cuts insurers out of the middle.

At the core is a radical shift in ACA subsidies. Instead of routing tax credits through insurers to reduce premiums, the plan proposes sending the money directly to consumers via health savings accounts. The pitch is simple. You get the cash. You pick the plan. Insurers lose leverage.

The problem is in the details… or the lack thereof. HSAs typically cannot be used to pay premiums, and the proposal offers little clarity on how that rule would change. The plan also revives cost-sharing reduction payments, claiming it could cut premiums by 10 percent while saving taxpayers billions.

Beyond subsidies, the proposal leans heavily on transparency mandates. Insurers would be required to post claims denial rates, wait times, and profit margins in plain English. Price transparency rules from Trump’s first term would be codified, along with most-favored-nation drug pricing concepts.

Supporters see a direct attack on Big Insurance. Critics see vague promises, legal gaps, and political theater. Either way, healthcare policy is officially back in campaign mode, and insurers just became the main villain again.

This is the number of prescriptions written for Novo Nordisk’s Wegovy pill in its first week on the U.S. market. Early data suggests the oral GLP-1 is already outpacing injectable launches at the same stage, a strong signal that convenience may drive the next phase of obesity drug adoption.

Here’s what biotech Redditors had to say this week:

😕 Unemployed at 27. Master’s degree. No offers.
A biotech graduate shared their struggle landing even entry-level roles despite a fresh master’s degree. Responses split between encouragement and realism. Many pointed to a brutal hiring market packed with overqualified candidates, while others bluntly suggested pivoting industries while still young.

💬 Europe vs U.S. Drug Pricing Gets Heated.
Redditors debated reports that U.S. drugmakers may withhold products from Europe over pricing pressure. The consensus was pragmatic. The U.S. market is where the money is, and patent brinkmanship cuts both ways.

🧫 Scientists Fixed a Rare Gut Disorder With a Poop Pill.
A fecal microbiota capsule cured a condition that turns carbs into alcohol, proving once again that medicine is not always glamorous.

📺 Skyrizi Wins the TV Ad Crown Again.
AbbVie spent nearly $440 million keeping Skyrizi on air in 2025, with Rinvoq right behind it. Brand dominance is expensive and apparently worth it.

🦷 Smart Gum Wants to Save Your Teeth Between Meals.
Toothpod launched antimicrobial gum infused with dental ingredients, not a toothbrush replacement but a surprisingly serious backup plan.

🤖 AI Fetal Ultrasound Tool Wins FDA Clearance.
BioticsAI’s software can flag fetal abnormalities and automate reporting, pushing AI deeper into frontline prenatal care.

🧠 Man Sues After $2,500 MRI Missed Stroke Risk.
A lawsuit against Prenuvo is raising fresh questions about the limits and liabilities of full-body scans sold as peace of mind.

⛏️ Prebiotics for Copper Mines
Transition Metal Solutions is using microbial additives to boost copper extraction by up to 30 percent, tackling a looming mineral shortage with biology instead of brute force. The startup just raised $6 million to scale a solution that could matter a lot sooner than people think.

🦠 January 20, 2020 — America Meets COVID-19.
The first confirmed U.S. case of COVID-19 was announced in Washington State, marking the quiet beginning of a pandemic that would reshape science, policy, and the way we live and work for years to come.

Trade wars, healthcare overhauls, IPO windows cracking open, and GLP-1 pills rewriting playbooks. If nothing else, this industry refuses to stay boring.

See you Thursday for the next issue. 👋

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