Latest / Mind Meets Machine: Global
Biotech At The Crossroads: Trade, War & the Future of Medical Innovation
While GLP-1 drugs and established medtech pulled in billions and shrugged off tariffs, early-stage biotech funding hit a five-year low and neurotech startups were left fighting for scraps.
→ Political leverage is now a balance sheet asset. Novo Nordisk and Eli Lilly negotiated directly with the White House and walked away with three years of tariff relief. That's not luck. That's strategic positioning translating straight into capital insulation.
→ The companies best placed to benefit from reshoring incentives are the least likely to need them. Large pharma has the balance sheet to onshore…
The skinny
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