Recon: Novo Nordisk, Pfizer make dueling offers for obesity drugmaker Metsera; Zepbound and Mounjaro top Keytruda as world’s top-selling drug

• How Moderna, the company that helped save the world, unraveled (STAT)
• Eli Lilly’s weight loss and diabetes drug tops Keytruda as world’s best-selling medicine (STAT)
• Senate hearing for Casey Means, Trump’s surgeon general pick, is postponed after she goes into labor (STAT)
• Scientists had to change more than 700 grant titles to receive NIH funding. Health disparities researchers fear what’s next (STAT)
• Stakeholders Advocate for FDA Modernization In Senate Biotech Hearing (MedTech Insight)
• US FDA places clinical hold on Intellia's gene therapy trials; shares fall (Reuters)

• Antibiotics Must Cost More Than M&Ms, Sandoz Tells Governments (Bloomberg)
• How The EU Biotech Act Could ‘Level The Playing Field’ For SMEs (Pink Sheet)
• EMA To Clarify When Adult Data Can Spare Children From ‘Unnecessary’ Crohn’s Trials (Pink Sheet)
• Broader EU Influences Likely To Impact Imminent EU Revision Document (MedTech Insight)
• China Eyes First-In-Class Blockbuster Drugs In Display of ‘Strategic Purpose’ (Pink Sheet)
• Roche Sees China Drag Peaking In 2025 As Diagnostics Bets On Innovation Pipeline (MedTech Insight)

• Novo Nordisk makes offer for obesity-focused Metsera, aiming to outbid Pfizer (STAT) (Reuters)
• Biotech might be tiny but the dealmaking is mighty (STAT)
• FDA moves to ease path for biosimilars as Trump seeks to cut drug costs (STAT)
• Bristol Myers beats quarterly revenue estimates on strong Opdivo sales (Reuters)
• Bristol Myers tries to temper anxiety over upcoming Cobenfy readout, unveils suite of PD-1xVEGF bispecific trials (Endpoints)
• National Resilience secures $825M in funding; Regeneron details US manufacturing plans (Endpoints)
• Tectonic shares rise on back of Phase 1 heart failure data (Endpoints)
• Evommune plans to raise about $150M in IPO for inflammatory diseases (Endpoints)
• Goodbye, Middleman. Hello, Littleman. (Endpoints)
• Boehringer licenses preclinical program from Kyowa Kirin; Savara makes a royalty deal (Endpoints)
• Biogen Cuts Profit Guidance After Deals to Bolster Pipeline (Bloomberg)

• Baxter cuts annual profit forecast on persistent hurricane impact; shares hit 20-year low (Reuters)
• Forget the Fed, Trade and the Shutdown. For Markets, It’s All About AI (Bloomberg)
• Medline files for initial public offering (MedTech Dive)
• CMS grants NCD for renal denervation, benefiting Medtronic, Recor (MedTech Dive)
• Zimmer wins FDA’s breakthrough status for tech to prevent joint infections (MedTech Dive)
• Thermo Fisher to acquire clinical trial data firm Clario for $8.9B (MedTech Dive)

• Luminoah Aims To Deliver Personalized, Data-Driven Nutrition And Dignity For Tube-Fed Patients (MedTech Insight)
• 25 states sue Trump administration over SNAP suspension (Food Dive)

• Trump cuts have decimated the federal addiction and mental health agency (STAT)
• Biden’s law sets Trump up for success in negotiating cheaper Medicare drug prices (STAT)
• FDA criticism of MDMA-assisted therapy is an opportunity for psychedelic medicine (STAT)
• Cigna Plunges on Expected Pressure in Pharmacy Benefit Segment (Bloomberg)
• Biosimilar Interchangeability Guidance Eliminating Switching Studies Coming Soon (Pink Sheet)
• US Advanced Health Projects Agency Launches Personalized Medicine Push (Pink Sheet)