Biotech deals hit $106B in 2026 despite Iran war inflation, driven by patent cliffs and China scouting. Industry adapts with strategic M&A.
Innovent partners with Pfizer for co-commercialization of ADCs in U.S. and Europe, sharing profits and retaining China rights.
Goldman Sachs lowers price target to $14 and reiterates Apple as buy, citing App Store overhang.