Major Pharma M&A Deals Stalled Amid U.S. Policy Uncertainty

Major mergers and acquisitions in the pharmaceutical and biotech sectors have stalled due to the unpredictable economic policies of the Trump administration, including tariff shifts, trade wars, and potential drug price cuts. Investment bankers report that this political uncertainty has led executives to adopt a cautious approach, delaying significant deals by several months. While larger mergers are on hold, smaller biotech acquisitions may still occur as companies seek to enhance their drug pipelines amidst market volatility. Concerns over cuts to federal research funding and changes at the FDA further complicate the landscape. The resulting hesitance in deal-making has implications not only for the pharma industry but also for Wall Street, where investment banks are bracing for layoffs amid declining global investment banking fees. Overall, both executives and investors are navigating a tumultuous economic environment marked by uncertainty and caution.