Biopharma M&A activity is expected to increase in 2025, driven by companies seeking to replenish pipelines as blockbuster drugs lose patent exclusivity, according to EY. The firm predicts more smaller, strategic deals, with a focus on therapeutic areas of interest and notes that $1.3 trillion in capital is available for dealmaking, although this is slightly lower than previous years.

List prices for the top 25 Medicare Part D drugs have almost doubled on average since their market introduction, often surpassing inflation, according to an AARP report. The findings come as Medicare begins negotiating drug prices under the Inflation Reduction Act, and a $2,000 annual cap on out-of-pocket costs will take effect this year.

Members of the Sackler family who own Purdue Pharma have reportedly agreed to increase their contribution to $6.5 billion in a bankruptcy settlement of opioid lawsuits after the Supreme Court rejected a previous plan. The proposal includes financial settlements for claimants and the possibility for those who reject the offer to pursue litigation against the Sacklers.

AbbVie will take a $3.5 billion impairment charge after its schizophrenia drug candidate, emraclidine, failed to meet primary endpoints in two Phase 2 trials. The drug showed only slight improvement in symptoms in one trial and worsened symptoms in another. AbbVie's acquisition of Cerevel Therapeutics in 2023 brought emraclidine into its portfolio, but the setback has significantly affected the company's financial outlook.

Bayer's BlueRock Therapeutics is advancing bemdaneprocel, an allogeneic cell therapy for Parkinson's disease, to a Phase 3 trial. The study will enroll 102 patients and focus on "on" time, movement, safety and quality of life. The therapy, which aims to replace dopamine-producing neurons, has shown safety in a Phase 1 trial and has received regenerative medicine advanced therapy and fast-track designations from the FDA.

Tune Therapeutics has raised $175 million in a Series B funding round led by Yosemite, Regeneron Ventures, New Enterprise Associates and Hevolution Foundation. The funding will advance Tune's pipeline, including Tune-401, an epigenetic silencing drug for chronic hepatitis B, which has received clinical trial approval in Hong Kong and New Zealand.