Pharma awaits Fed relief with $1T in firepower to spend on biotech innovation: report

Pharmas have a record $1 trillion to deploy on new biotech innovation deals. All they need is for the Federal Reserve to lower rates, according to a new report from Ernst & Young.

And that’s a big maybe. The market is mostly betting that there will be one decrease in the second half, but the rates are expected to remain the same in the near term, according to the CME FedWatch Tool.