Bayer aims to revive growth through new drug launches as key products like Xarelto and Eylea plateau. Bristol Myers Squibb is realigning its pipeline by transferring five immunology assets, including three clinical-stage drugs, to a new $300 million biotech startup funded by Bain Capital. Simultaneously, Bain has established a new life sciences company consolidating immunology assets formerly held by BMS. These moves reflect dynamic portfolio optimization among major pharmaceutical corporations, supported by significant venture and private equity investments to foster innovation and streamline pipelines.