FT News Briefing

Big Pharma markets left on a ‘patent cliff’-hanger

46 snips
Jul 11, 2025
India is on track for an unprecedented year in initial public offerings, having raised $6.7 billion so far. Meanwhile, Big Pharma grapples with a looming 'patent cliff,' facing potential revenue losses from expiring patents on major drugs like Keytruda. The podcast also dives into how companies like Merck are responding by acquiring biotech firms to spark innovation, despite political risks in developing new blockbuster medications. In a related note, ongoing trials involving Meta raise questions about accountability in corporate governance.
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INSIGHT

Meta's Shareholder Suit Breaks New Ground

  • A trial suing Meta's board for data mismanagement is the first of its kind in Delaware corporate law.
  • This type of operational scandal lawsuit typically does not reach trial in Delaware, the hub of US corporate law.
INSIGHT

Delaware Faces Corporate Lawsuit Pressure

  • The Meta lawsuit trial reveals some companies are moving incorporation out of Delaware for friendlier shareholder laws.
  • Delaware corporations face pressure as some founders fear trials over board-level liabilities.
INSIGHT

Pharma Faces Major Patent Cliffs

  • Patent cliffs mean lucrative drugs lose patent protections, risking huge revenue drops for pharma companies.
  • $180 billion worth of drugs come off patent in 2027-28, representing 12% of global pharma revenue.
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