Intellectual property rights remain the foundation of innovation in the life sciences. Today, that foundation is facing sustained and coordinated pressure from all sides. Insurers, pharmacy benefit managers, and hospital systems -- groups that historically stayed out of IP policy -- are now actively campaigning to erode patent protections. At the same time, misguided legislative proposals framed around "patent abuse," threats to the Bayh-Dole framework, and growing trade pressures on regulatory data protection are converging to weaken the incentives that power biomedical discovery. Featuring leaders from industry, academia, and policy advocacy, this panel will examine how we arrived at this inflection point -- and outline a strategy to defend, modernize, and strengthen the IP ecosystem that underpins breakthroughs.