On that sunny March morning, in a small health center in Lobamba, a rural area of Eswatini, this 32-year-old sex worker has just become one of the first people in the world to receive lenacapavir, a drug that, administered twice a year, offers nearly 100% protection against HIV.
Incyte tops this list due to its rare combination of commercial scale, cash generation, and pipeline depth. The company posted FY2025 revenue of $5.14 billion, up 21.2% YoY, anchored by Jakafi generating $828.2 million in Q4 2025 alone (+7% YoY) and Opzelura delivering $207.3 million (+28% YoY). With $3.58 billion in cash and 14 pivotal clinical trials underway, Incyte offers an acquirer immediate revenue, margin expansion potential, and a deep oncology pipeline spanning KRASG12D, CDK2 inhibition, and mutCALR.
The Trump-era patronage system has affected us all, by so often thrusting inexperienced randos with obvious political mandates into important positions that have previously always been occupied by career civil servants or specialized leaders.
Kelly Chibale describes the drug discovery process as a fairy-tale quest, stating, 'It doesn't mean that there aren't surprises or miracles. They do happen, but you have to kiss many frogs before you meet the prince.' This metaphor illustrates the challenges and unpredictability in finding effective medicines.
At the end of January, Washington, DC, saw an extremely unusual event. The MAHA Institute, which was set up to advocate for some of the most profoundly unscientific ideas of our time, hosted leaders of the best-funded scientific organization on the planet, the National Institutes of Health. Instead of a hostile reception, however, Jay Bhattacharya, the head of the NIH, was greeted as a hero by the audience, receiving a partial standing ovation when he rose to speak.
The news is the latest sign of the FDA's heightened scrutiny of vaccines under Health Secretary Robert F. Kennedy Jr., particularly those using mRNA technology, which he has criticized before and after becoming the nation's top health official. Moderna received what's called a "refusal-to-file" letter from the FDA that objected to how it conducted a 40,000-person clinical trial comparing its new vaccine to one of the standard flu shots used today.
While the move came as a surprise to the high-profile vaccine maker, it is just the latest hostility toward vaccines-and mRNA vaccines in particular-from an agency overseen by the fervent anti-vaccine activist Robert F. Kennedy Jr. In his first year in office, Kennedy has already dramatically slashed childhood vaccine recommendations and canceled $500 million in research funding for mRNA vaccines against potential pandemic threats.
In children below the age of five, whose immune systems are still developing, the infections can lead to malnourishment; they cause up to 42,000 deaths annually. Soon there may be a vaccine to protect against these infections. In the Lancet Infectious Diseases last month, scientists shared the results of the first study to evaluate the safety and efficacy of an ETEC-controlling vaccine in a large pediatric population in Gambia.
I am open-minded; I believe in integrative practices, and I agree that the medical establishment can be arrogant and unduly influenced by the pharmaceutical industry, which now funds so much of medical research. But I fully understand Scherer's frustration with his interminable discussions with Kennedy about scientific articles.
For more than a decade, doctors and researchers have announced that a handful of people around the world have been cured of HIV. Each of these patients has experienced long-term viral control - in some cases for over a decade - without antiretroviral therapy (ART), as AIDSMap notes, though some doctors describe them as being in "remission." While the patients have shown no signs of HIV since stopping ART, at least some uncertainty remains as to whether the virus could eventually rebound in them.
Each day, they pore over reams of data about how the virus is evolving worldwide, how well last year's shot performed, and which strains might be easiest to mass produce for a vaccine. The meeting, convened by the World Health Organization twice a year, is a critical moment for the WHO's Global Influenza Surveillance and Response System.