This week, John Stanford breaks down the government shutdown and its impact on FDA, NIH, and biotech innovation. He also covers the surprising lapse of the SBIR program, what it means for early-stage biotech funding, and the fierce political debate around its future. Plus, we analyze President Trump’s deal with Pfizer on “Most Favored Nation” drug pricing and his latest tariff threats.

What does all this mean for the future of U.S. biotech competitiveness?
How should policymakers balance affordability and innovation in drug pricing?
Do you think the SBIR program will be quickly revived, or is this the start of bigger changes?
What impact will tariffs and MFN drug pricing have on biotech investment?

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Timestamps:
0:00 Welcome to Making Medicine
0:21 Government shutdown and biotech impact
1:05 FDA furloughs and regulatory slowdowns
2:00 NIH delays and research funding concerns
2:40 Investor confidence during shutdowns
2:57 SBIR & STTR programs expire
3:22 Political stalemate in the Senate
3:50 Why SBIR matters for biotech innovation
4:05 Trump & Pfizer announce MFN drug pricing deal
5:06 Trump RX website and drug access
6:05 Market reactions and industry uncertainty
6:36 Trump’s 100% pharma tariff threat
7:40 Section 232 investigations on drugs and PPE
7:59 Closing thoughts & audience Q&A


DISCLAIMER: We’re reporting on the headlines, not making medical recommendations. For personal health questions, always consult a doctor.