Congress reauthorized the Pediatric Priority Review Voucher (PPRV) program through 2029 as part of a short‑term funding package, and industry groups including BIO hailed the move. BIO’s CEO John F. Crowley framed the reauthorization as a bipartisan win that sustains incentives for developing treatments for rare pediatric diseases and gives companies a transferrable regulatory asset they can monetize to support R&D. The law’s passage removes a near‑term policy overhang for rare‑disease developers that had relied on voucher economics to underwrite costly programs. The reauthorization also reinforces investor confidence in pediatric rare‑disease strategies and may influence M&A and licensing valuations where PRVs factor into deal calculus.