FUSION PHARMACEUTICALS

Radiopharmaceuticals are emerging as a powerful precision medicine approach in oncology, with Novartis leading the market through FDA-approved therapies Lutathera and Pluvicto generating over $2.1 billion in 2024.

Biopharma M&A activity totaled $79.4 billion in 2024, representing approximately half of 2023's total value, though deal volume saw a slight increase when excluding four mega-deals from the previous year.

• GLP-1 receptor agonists like semaglutide and tirzepatide showed potential beyond diabetes and weight loss, including cardiovascular and mental health benefits. • CRISPR gene editing entered the market with Casgevy for sickle cell disease and β-thalassemia, though uptake has been slow due to complex treatment requirements. • Protein-folding algorithms developed by Nobel laureates revolutionized biochemical research and found applications in pharmaceutical drug discovery. • Antibody-drug conjugates (ADCs) saw major investment, with firms focusing on novel linker chemistries to enhance their efficacy and target specificity.