In this week’s edition of InnovationRx, we look at the year ahead in healthcare, French healthtech Doctolib’s potential large secondary, Alice Schwartz’s legacy at Bio-Rad, and more. To get it in your inbox, subscribe here.

The healthcare outlook for 2026: increasing AI adoption, more startup exits and ongoing regulatory challenges. That’s the bottom line from a survey of healthcare executives by Deloitte and analyst research from PitchBook.

AI technology will improve drug discovery, according to PitchBook, which predicts it will “nearly double” the number of drugs that make it through the clinical trial process, as well as shortening timelines and cutting costs. The technology will also reduce the time doctors spend on administrative tasks. The Deloitte survey echoed those findings, with 78% saying AI will play a “central role” in boosting their organizations’ efficiency in the coming year.

Another thing to look for in 2026: more M&A activity. This has already been a big year for dealmaking, including Johnson &Johnson’s $14.6 billion purchase of Intra-Cellular Therapies and Pfizer’s acquisition of obesity drug maker Metsera for up to $10 billion following a bidding war. Nearly half of biotech and medtech leaders surveyed by Deloitte see partnerships and acquisitions as a top priority for 2026. PitchBook notes that there are more than 120 next generation GLP-1 drugs in development across 60 companies, and that the battle between Novo Nordisk and Pfizer for Metsera “underscores the escalating strategic urgency in this space.”

A major headwind is ongoing regulatory uncertainty, with 80% of executives telling Deloitte that regulatory and policy uncertainty will impact their strategies in 2026. PitchBook’s analysts expect major changes in policy due to healthcare affordability. That’s likely to play out in new rules on Medicare reimbursements, changes to insurance underwriting and potential restructuring of Medicare Advantage’s risk-adjustment system.

Trump’s tariffs also are a big concern, with 39% of executives surveyed by Deloitte expecting them to affect their 2026 strategies. That could be a particular issue for medtech companies. PitchBook notes that ongoing trade tensions with China may lead to more tariffs on medical devices in the coming year.

P.S. This will be the last edition of InnovationRx for the year.........

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