This week’s pharma headlines highlight a shifting competitive landscape: J&J’s psoriasis pill icotrokinra challenges biologics, Novo Nordisk’s Rybelsus secures a first-in-class EU cardiovascular label, and GSK commits $30B to U.S. expansion under political pressure.

RNA therapies hold immense promise but bring fresh challenges in access, pricing, and reimbursement. As direct-to-consumer models emerge, the industry must rethink how innovation reaches patients—balancing high development costs with equitable access.

Biotech is navigating capital scarcity, evolving deal structures, and scientific progress. EY’s Biotech Beyond Borders report underscores the reset, Sangamo advances Fabry gene therapy while seeking a partner, and the FDA expands options in EGFR-mutated lung cancer. For commercial leaders, success now means proving value early, forging smart alliances, and planning lean, adaptive launches.