The 36th edition of EY’s Beyond Borders Biotechnology Report provides an in-depth look at the US and European biotech industry as the operating and regulatory ecosystem is undergoing dramatic changes. There are tectonic shifts in pricing due to Most Favored Nation (MFN) pricing and IRA, FDA policy shifts, NIH funding uncertainties, and supply chain implications due to tariff policies. However, the industry is showing solid innovation, which fuels M&A alliances and venture capital investment. In 2025 the M&A value was $149B up 65% from 2024 and this momentum may carry forward in 2026. This session looks to explore all these topics, and more!