The FDA granted accelerated approval to Bristol Myers Squibb’s iberdomide (marketed as Zenbexus) for patients with multiple myeloma that has returned or stopped responding to treatment, expanding the options in an already crowded relapsed setting. The approval underscores continued regulatory support for oral, mechanism-driven therapies as sponsors refine positioning by line of therapy and prior exposure. Regulators also continued to shape the commercial landscape through device and reimbursement-adjacent decisions during the period, including an ICER cost-effectiveness draft that challenged AstraZeneca’s newly approved hypertension drug Baxfendy on price-to-benefit grounds. Together, the actions highlight how efficacy signals increasingly meet an additional gate: payer and value scrutiny, even shortly after FDA authorization.