With uncertainty roiling Big Pharma, execs are placing lower-risk bets

Scientific breakthroughs. Upcoming patent cliffs. Stagnant M&A. Lingering political unease. And a whole heaping dollop of uncertainty.

The ups and downs of the pharma industry last year have carried through into 2025, and although certain milestones like the outcome of the U.S. election have put some questions to rest, Big Pharma still faces a series of unknowns that have impacted their M&A strategies.