Biotech’s year of the launch

The bull case for biotech in 2026 won’t be decided by interest rate cuts. It will be shaped by drug launches, and whether a new cohort of commercial biotechs can turn late-stage data into rapid uptake, long-term reimbursement, and follow-on value from their pipelines.

Investors told BioCentury the question isn’t whether launches start fast. It’s whether early traction looks durable...