Biotechnology The Trump administration's moves to reduce government funding for the US Food and Drug Administration (FDA) and other agencies, such as the National Institutes of Health, will impact the biotech sector in several important ways, making it likely that companies will seek to combine with peers or be acquired by large pharma players, according to Andrew Goodman, a partner in the M&A practice at law firm Paul Hastings, in a client alert. 22 March 2025