The Biotechnology Innovation Organization (BIO) praised Congress’s reauthorization of the Pediatric Priority Review Voucher (PPRV) through 2029 and inclusion of PBM reform measures in the recent spending package. BIO said the Mikaela Naylon Give Kids a Chance Act restores a key incentive for pediatric rare‑disease development and that PBM transparency and compensation reforms aim to address market distortions impacting drug pricing. Industry groups and investors view the PPRV extension as stabilizing for companies focused on pediatric rare diseases; meanwhile, manufacturers will monitor how PBM changes affect formulary management, rebate practices and commercial strategies. The legislative package reduces a layer of regulatory and commercial uncertainty for biopharma developers.