Scrip Perspectives
A deep dive into sales expectations for individual pharma products reveals incretin agonists, immunology biologics and new formulations of established blockbusters dominating growth forecasts this year, with Merck & Co., Lilly, AbbVie and Bristol Myers Squibb particularly well positioned in 2026.
INFOGRAPHIC: After M&A and alliance metrics plunged across the board in 2024, 2025 produced significantly higher total and average values in both categories.
While investment promises appear to be in billions of dollars, industry experts remain skeptical.
2026 has already seen some interesting late-stage trial readouts, from Sanofi’s anti-OX40L antibody, amlitelimab, in atopic dermatitis to Vertex’s APRIL/BAFF inhibitor, povetacicept, in IgA nephropathy. Here Scrip surveys of some of the more interesting Phase III clinical trials still to come.
About 50 pharmaceutical industry leaders surveyed by Scrip predict 2026 will mark AI's shift from pilot programs to committed operational deployment. However, competitive advantage will depend on organizational transformation and digital infrastructure maturity, not algorithmic sophistication alone.
Enthusiastic predictions from industry leaders for ongoing progress in obesity, oncology, immunology, neuroscience and more were supported by optimism for the potential of AI and other technological advances to enable breakthroughs in processes as well as pipelines.
Industry leaders predict pricing uncertainty will force companies to abandon blanket global launches. However, AI platforms will reshape commercial execution and new access models will break down barriers limiting patient reach.
While a record number of China-originated first-in-class drugs were approved domestically in 2025, only one has so far entered clinical development overseas with its originator as the sole sponsor. But more progress is expected this year.
Scrip Asks... What Does 2026 Hold For Biopharma? Part 2: Competitive Dynamics – A Landscape Reshaped
Industry leaders predict that competitive dynamics in 2026 will be fundamentally reshaped by China's speed and cost advantages, forcing western biopharma to rethink what it takes to win. Meanwhile, the sustainability of traditional biotech's role as innovation middleman is called into question.
Industry leaders, executives and investors forecast that M&A will accelerate in 2026, driven by patent cliff urgency. However, capital is becoming more selective, flowing towards proven assets, novel biology and innovative financing structures.
Some negative or mixed studies had significant negative effects on their sponsors, while others rolled off their backs. Scrip takes a look at five trials that missed the mark or hit it, but not enough to yield positive results.
After no M&A transactions reached the $5bn threshold in 2024, J&J, Pfizer, Novartis and Merck & Co. all signed on for biopharma takeouts valued at $9bn or higher in 2025.
2025 saw star products debut in India as foreign firms doubled down on high-value, IP-protected therapies. Experts tell Scrip the top 10 cities in the country can now sustain “US/EU-style” specialty launches.
In 2025, the number of global Phase III trials that included US sites and were initiated by Chinese biopharma companies as the sole sponsor fell slightly, but multiple plans are in the works for 2026 following US IND approvals.
Terns and Relmada were two small cap companies which pulled off perfect pivots in 2025, ditching failed assets to finding success in a new therapy area. However, many other small firms struggled to stay afloat, with ‘zombie killer’ firms emerging to finish them off.
Many new drugs that launched in the US over the last year entered competitive markets and few generated notable revenue in the early months.
There has not been a dull moment in the biopharma sector this year. With just a day left, and in no particular order, Scrip takes a look at five of the biggest stories of 2025.
The Korean biopharma industry in 2025 was marked by some major deals involving smaller companies, while the improving investment climate could see further activity in selected areas in 2026.
Industry veterans put themselves in Novo’s shoes, suggesting pricing manoeuvres and tactical measures to blunt competition in India post semaglutide’s LOE in 2026. There’s also court action to watch.
R&D advances are grist to the pharma mill, and those clinical trials that can be deemed successes are particularly welcome. Here are the top five or so study hits (many come in pairs) that got readers clicking in 2025.