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After holding its breath for several rough years, Greater Boston’s life sciences sector is cautiously coming up for air.
The biotech industry has struggled since the pandemic bubble of over-investment burst. And then it took blow after blow in the months after President Trump took office, from tariffs to drug-pricing changes to cuts to early-stage research that rippled through the life sciences pipeline. Deals stagnated. Pandemic-era successes like Moderna made substantial layoffs amid rising vaccine skepticism. Scientists scrambled to find money to keep their research alive.
It was a year of devastating uncertainty for the sector and its roughly 75,000 Massachusetts employees. Entering 2026 and the industry’s annual J.P. Morgan Healthcare Conference in San Francisco next week, however, biotech leaders and analysts say companies have a better understanding of the new financial and regulatory landscape, and are adjusting accordingly — so long as there aren’t other major changes.
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