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A chill week

No M&A. Some news but not a deluge. The weather was amazing. I took a walk in Golden Gate Park and came across the sculpture above, whatever it is. 

The entire week was, dare I say it, chill. Just the way I wanted it to be. 

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This is the online version of The Readout, STAT’s flagship biotech newsletter. Sign up to get it in your inbox.

You’re back. We’re sort of back. It’s Day 2 of JPM and we’re definitely not exhausted or delirious yet.

This is Elaine Chen, Adam Feuerstein, Matt Herper, and Allison DeAngelis again. We’ve got a lot more news today, so let’s get to it.

The next test for Kite Pharma — and Gilead

It’s anito-cel, the CAR-T therapy for multiple myeloma that Gilead is developing in partnership with Arcellx. Gilead submitted the therapy to the FDA sometime before the end of December, Cindy Perettie, executive vice president of Kite Pharma, the cell therapy division of Gilead, told STAT at a Gilead media breakfast.

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In an exceptional year for biotech and pharma, there were so many outstanding CEOs, I couldn’t single out just one for my 2025 Best Biopharma CEO honor.

Here are this year’s winners: 

The dealmakers 

2025 has been the best year for biotechs being acquired by pharma companies since 2019, with nearly $240 billion worth of deals announced or closed through November, according to Stifel.

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This story first appeared in Adam’s Biotech Scorecard, a subscriber-only newsletter. STAT+ subscribers can sign up here to get it delivered to their inbox.

Nvidia’s market value topped $5 trillion this week. 

The total market value of ALL pharma and biotech companies is $4.6 trillion.

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