While the life sciences industry is often dominated by headlines about clinical trial results and blockbuster drugs, some of the most telling stories about its future lie in the strategic moves that fly under the radar. From high-stakes corporate battles to groundbreaking surgical milestones, the third and fourth quarters of 2025 have been anything but quiet. Here are five key developments from the last six months that you may have missed.
Pfizer Wins Novo Nordisk Courtroom Battle
The competition in the metabolic disease space reached the courtroom in late October. Pfizer filed two lawsuits against Metsera, its board, its controlling stockholders and Novo Nordisk, alleging breach of contract and anticompetitive behavior. The dispute began when Novo Nordisk made an unsolicited ~USD 9bn bid to acquire Metsera, a company developing longer-lasting GLP-1 therapies, challenging Pfizer’s previously agreed USD 8.1bn acquisition. Pfizer argued the Novo Nordisk deal posed significant regulatory risk was an illegal attempt by a dominant player to suppress a nascent competitor.
Ultimately, Pfizer won the courtroom battle and Metsera is now a wholly owned subsidiary of the American drugmaker, with a USD 10bn deal struck.
Tirzepatide Becomes the World’s Bestselling Drug
Eli Lilly’s tirzepatide, sold as Mounjaro for type 2 diabetes and Zepbound for obesity, has officially become the world’s top-selling drug. In Q3, the drug generated a combined USD 10.1 bn in revenue, surpassing Merck’s Keytruda (USD 8.1bn in Q3). This milestone was driven by massive demand, with Mounjaro sales growing 109% and Zepbound sales up 185% year-over-year. The performance prompted Lilly to raise its full-year 2025 revenue guidance, cementing the commercial dominance of the GLP-1 class and shifting the landscape for top pharmaceutical products.
NextRNA Therapeutics Winds Down Operations
In a reminder of the high risks in biotech, Massachusetts-based NextRNA Therapeutics announced it was winding down operations in August. The company, which was pioneering therapies targeting long non-coding RNA (lncRNA), had secured a promising USD 547m collaboration with Bayer in 2024. However, its closure was precipitated by a delay in achieving a critical milestone in the Bayer partnership, which would have extended its cash runway, coupled with challenging market dynamics. Despite the setback, Bayer confirmed it remains committed to exploring the program, highlighting the continued interest in this novel area of biology
Merck Acquire Cidara Therapeutics
Looking to diversify its pipeline ahead of Keytruda’s patent cliff, Merck announced in November a USD 9.2bn acquisition of Cidara Therapeutics. The deal centers on Cidara’s lead candidate, CD388, a novel, long-acting antiviral designed for the prevention of influenza in high-risk individuals. Currently in Phase 3 trials, CD388 has received Breakthrough Therapy designation from the FDA and represents a potential first-in-class, strain-agnostic option for flu prevention.
The World’s First Pig-Lung-to-Human Transplant
A monumental step forward in the field of xenotransplantation was achieved when a team in China performed the world’s first transplant of a genetically modified pig lung into a human. The recipient was a 39-year-old brain-dead man, and the organ reportedly survived for nine days. Lungs are among the most complex organs to transplant due to their sensitivity, making this procedure a significant milestone. While still experimental, the success paves the way for future clinical trials and offers hope for addressing the critical shortage of human donor organs.