Big Pharma
The Metabolic Squeeze: Big Pharma’s 2025 Defined by $1 Trillion Valuations and Regulatory Reckonings
As 2025 draws to a close, the pharmaceutical industry stands at a historic crossroads. The year was defined by a widening chasm between the "metabolic haves"—those profiting from the global obesity epidemic—and companies grappling with the first real bite of the Inflation Reduction Act (IRA). While