Good morning from Pharma and Biotech daily: the podcast that gives you only what's important to hear in Pharma and Biotech world.The first quarter earnings calls of major pharmaceutical companies were dominated by uncertainty surrounding President Trump's tariffs. Merck took a $200 million hit due to the tariffs, while Roche believes it is well-positioned to weather the impact. Despite challenges, companies are preparing for potential impacts of the tariffs on their businesses. This uncertainty is also affecting M&A activity in the pharmaceutical industry. Wacker Biotech is positioning itself as a partner for advanced therapies, offering services for process development and production of PDNA and mRNA therapies. Novavax asserts that its COVID-19 shot is "approvable", Vanda criticizes the FDA for delays, and there are updates on investments in innovative therapies. The industry is also reshaping the women's health landscape with economic challenges and strategic investments. Overall, companies are navigating through challenges while striving to thrive in a changing biotech landscape.