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Pharma Recovery Takes Hold Amid Patent Expirations and Policy Uncertainty

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The pharmaceutical industry is experiencing a strong recovery in 2026, driven by innovation, robust quarterly performances, and positive regulatory updates.

However, there are headwinds such as slower-than-expected launches of newer therapies, patent expirations for blockbuster drugs, and policy and pricing uncertainty in major markets.

A recent $5 billion-plus deal is Merck's acquisition of Terns Pharmaceuticals, and other notable deals include Gilead's acquisition of Arcellx and Biogen's acquisition of Apellis Pharmaceuticals.

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