Even with recent uncertainties, big pharmaceutical companies continue to focus on business deals to keep growing. Factors like upcoming tariffs, price controls, and patent expirations are pushing these companies to find new drugs and stay competitive. Recent earnings reports from top pharma leaders reveal their plans for future deals. Merck & Co.’s CEO, Rob Davis, says the company is still actively looking for new opportunities. With its cancer drug Keytruda facing patent expiration in 2028, Merck is working to strengthen its pipeline. Davis highlights recent successes like Winrevair and Capvaxive and confirms Merck is open to more acquisitions after its $10 billion purchase of Verona Pharma. AbbVie, which has already faced patent losses with Humira, is investing in new drugs like Skyrizi and Rinvoq while exploring deals in mental health, such as a potential $1 billion purchase of Gilgamesh Pharmaceuticals. The company is also partnering with ADARx Pharmaceuticals for new treatments. Bristol Myers Squibb is collaborating with BioNTech on a cancer vaccine, hoping to set a new standard in treatment. CEO Chris Boerner emphasizes the company’s strong financial position for future deals. Regeneron, known for developing its own drugs, may need to consider more partnerships as its key drug, Eylea, faces patent expirations. CEO Leonard Schleifer prefers internal innovation but acknowledges the need to explore external opportunities. Moderna, with its mRNA technology, focuses on partnerships rather than big acquisitions. CEO Stéphane Bancel highlights the company’s strong pipeline but notes financial challenges due to declining COVID-19 vaccine sales, leading to recent layoffs.