Uncertain markets in 2025: a Perspective

In the 12 years I’ve been involved in BioCentury’s coverage of the biopharma public equity markets, there’s never been a period in which politics has played as prominent a role in driving investor sentiment as right now.

Investors have the scars to show they know the power of drug price policy debates and how rhetoric can roil biotech markets — from Hillary Clinton’s infamous tweet in September 2015 that put an end to a biotech bull market, to the proposal and passage of the Inflation Reduction Act in 2022...