In its first substantial M&A transaction since 2021, Bayer AG is buying Perfuse Therapeutics Inc., a firm that has operated quietly, though it reported positive midstage data last year for PER-001, an endothelin antagonist, in glaucoma and diabetic retinopathy.

Once confined to a niche in nuclear medicine, targeted radionuclide therapy is rapidly gaining momentum and becoming one of the fastest-growing strategies in oncology. Evidence of this surge was clear at the 2026 European Society of Medical Oncology Targeted Anticancer Therapy (ESMO TAT) congress, where the topic was highlighted both at the ESMO Colloquium and in the session titled “The Future of Radioligands: Insights from Industry, Regulation and Clinical Practice,” with various speakers sharing their perspectives on the modality’s current role and future potential.

Bayer AG’s oral factor XIa inhibitor asundexian significantly reduced ischemic stroke by 26% in patients following a noncardioembolic ischemic stroke or high-risk transient ischemic attack in the phase III Oceanic-Stroke study.

The U.S. FDA approved 18 drugs in November, down from 20 in October, bringing the total number of clearances to 199 through the first 11 months of the year. The number is about 5% lower than the 209 approvals recorded over the same period in 2024 but more than every prior year.

Detailed data will be forthcoming at a scientific congress, but Bayer AG’s positive top-line readout from its phase III study testing oral factor XIa (FXIa) inhibitor asundexian in reducing the risk of ischemic stroke offered a much-needed win for the FXIa space, which encountered its latest stumble just over a week ago.

The U.S. FDA cleared 20 drugs in October 2025, up from 17 in September, 18 in August and 17 in July, bringing the year’s total to 181 approvals through the first 10 months. Two new molecular entities (NMEs) gained U.S. approval in October: Boehringer Ingelheim GmbH’s Jascayd and Bayer AG’s Lynkuet.

A new oral HER2-directed breast cancer therapy from Bayer AG, and its companion diagnostic from Thermo Fisher Scientific Inc., have been approved by the U.S. FDA. Hyrnuo (sevabertinib), a reversible tyrosine kinase inhibitor, was greenlit by the agency for adults with locally advanced or metastatic non-squamous advanced HER2-mutant non-small-cell lung cancer.

Following the first approvals in the U.K., Canada, Australia and Switzerland, the EMA’s Committee for Medicinal Products for Human Use (CHMP) is now recommending approval of Bayer AG’s Lynkuet (elinzanetant), a non-hormonal treatment for symptoms of menopause. The drug, the first dual neurokinin-1 and neurokinin-3 receptor antagonist, is for the treatment of moderate to severe vasomotor symptoms, also known as hot flashes.