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Story summary
- The biotech sector is seeing a surge in M&A driven by a looming patent cliff and the need to replenish pipelines.
- Pfizer Inc. and Novo Nordisk A/S are in a high-profile bidding war for Metsera.
- Analysts expect 2026 to show increased deal flow as U.S. healthcare policy uncertainty declines and rates fall.
- Investors seek next-generation assets in weight loss and oncology amid a more favorable regulatory environment.
