European institutions reached political agreement on a major package of pharmaceutical reforms — the first comprehensive update in two decades — according to industry reports. The deal covers exclusivity, pricing frameworks and incentives designed to balance innovation and affordability across EU member states. Industry groups and regulators will now parse the text for operational impacts on R&D incentives, patent lifecycles and market access. Biopharma companies with EU portfolios should expect changes to launch strategies, pricing negotiations and lifecycle management, and will likely engage national authorities on implementation details. Clarifier: the reform package targets regulatory and market‑access rules that determine how new drugs are priced, reimbursed and protected across the EU single market.