The main goal of the August 2022 legislation was to lower the prices of prescription drugs. But it ended up being much more complicated than that, and how its components are rolled out through 2026 will have ramifications across research and development.

Life sciences–focused venture capital firm Flagship Pioneering unveiled its newest start-up Wednesday: the Cambridge, Mass.–based Empress Therapeutics, which aims to speed up the identification and development of small molecule drugs.

Bayer AG plans to spend $1 billion on drug research and development in the U.S. this year as it works to double its sales in the country by the end of the decade, Bayer’s top U.S. pharmaceutical executive told Reuters.

Sanofi’s global head of R&D, John Reed, is leaving his position to pursue another opportunity outside the company, the French multinational announced Monday.

Amgen opened a new research and development site in San Francisco Bay, which will be used to discover new therapeutics for cancer, inflammatory disease and cardiometabolic disorders, the company announced Thursday.