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Good morning, everyone, and welcome to another working week. We hope the weekend respite was somehow relaxing and invigorating, despite the geopolitical upheaval. After all, the familiar routine of meetings, online calls, and deadlines has predictably returned. So to cope, yes, we are firing up the coffee kettle once again to brew some cups of stimulation. Our choice today is bourbon pecan, a new addition to the pantry. Feel free to join us. Meanwhile, here is the latest menu of tidbits to help you get started. We hope you have a smashing day and, as always, do keep in touch. We enjoy your postcards and telegrams. …

As President Biden prepares to deliver his first State of the Union address to Congress, many analysts say that the administration’s efforts to boost the power of consumers at the expense of the pharmaceutical industry have had only mixed success, The Financial Times writes. Drug pricing reforms that would give government agencies more power to regulate pricing remain stalled in Congress. Meanwhile, European opposition to a Covid-19 patent waiver has blunted efforts to conclude talks on sharing intellectual property. Nevertheless, uncertainties over drug pricing and the FTC’s flagging of tougher antitrust scrutiny have had a chilling impact on deal-making.

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