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Accessibility helpSign InSubscribeFinancial TimesSubscribeSign InHomeWorldWorld HomeMiddle East warGlobal EconomyUKUSChinaAfricaAsia PacificEmerging MarketsEuropeWar in UkraineAmericasMiddle East & North AfricaKharg Island: Iran’s oil lifeline that Trump has left untouchedWhich economies will pay the biggest price for the Iran war?G7 discuss joint release of emergency oil reservesFarage misses out on Trump meeting as their relationship coolsTrump’s Venezuela strategy has failed in IranUSUS HomeUS EconomyUS CompaniesUS Politics & PolicyKharg Island: Iran’s oil lifeline that Trump has left untouchedWhich economies will pay the biggest price for the Iran war?Farage misses out on Trump meeting as their relationship coolsTrump’s Venezuela strategy has failed in IranIran war will leave a complex geoeconomic legacyCompaniesCompanies HomeEnergyFinancialsHealthIndustrialsMediaProfessional ServicesRetail & ConsumerTech SectorTelecomsTransportKharg Island: Iran’s oil lifeline that Trump has left untouchedWhich economies will pay the biggest price for the Iran war?G7 discuss joint release of emergency oil reservesEx-EY executive launches private equity-backed tax firm to challenge Big FourGilt market slump deepens as traders bet on BoE rate riseTechTech HomeArtificial intelligenceSemiconductorsCyber SecuritySocial MediaSheryl Sandberg and Nick Clegg join Nvidia-backed AI start-up NscaleKKR eyes multibillion-dollar sale of data centre cooling companyPalmer Luckey’s $1bn pitch to reboot 1990s video game consolesIs South Korea’s dominant online retailer an American company?Samsung seeks AI deals to challenge Apple’s smartphone leadMarketsMarkets HomeAlphavilleMarkets DataCryptoCapital MarketsCommoditiesCurrenciesEquitiesMonetary Policy RadarWealth ManagementMoral MoneyETF HubFund ManagementTradingKharg Island: Iran’s oil lifeline that Trump has left untouchedWhich economies will pay the biggest price for the Iran war?G7 discuss joint release of emergency oil reservesIran war will leave a complex geoeconomic legacyGilt market slump deepens as traders bet on BoE rate riseClimateOpinionOpinion HomeColumnistsThe FT ViewThe Big ReadLexObituariesLettersTrump’s Venezuela strategy has failed in IranIran war will leave a complex geoeconomic legacyAmerica chose this war — and must now choose how to end itWhy it’s time to end the grim march of the touchscreenStagflationary forces are buildingLexWork & CareersWork & Careers HomeBusiness School RankingsBusiness EducationEurope's Start-Up HubsEntrepreneurshipRecruitmentBusiness BooksBusiness TravelWorking ItWhy it’s time to end the grim march of the touchscreenYou can turn this to your advantage if every news story has ‘tax exile’ in itGoogle gives CEO Sundar Pichai new pay deal worth up to $692mnPapier founder: ‘I don’t own stocks or shares — it’s too much risk’Business school professors’ picksLife & ArtsLife & Arts HomeArtsBooksFood & DrinkFT MagazineHouse & HomeStylePuzzlesTravelFT GlobetrotterHow to wear a tie: HTSI’s definitive guideWe’ll always have DubaiPalmer Luckey’s $1bn pitch to reboot 1990s video game consolesTrump’s war on Iran is spreading. Where does it stop?The curse of the ancient lead tabletsHow To Spend ItHomeWorldUSCompaniesTechMarketsClimateOpinionLexWork & CareersLife & ArtsHow To Spend ItFinancial TimesSubscribeSign InZealand Pharma ASBiotech group’s shares hit by weight-loss drug setbackZealand Pharma falls 34% following mid-stage trial results for treatment being developed with RocheArtificial intelligenceUK bets £40mn on frontier AI research lab in push for tech independenceNew state-backed body seeks AI breakthroughs in science, healthcare and transportUK economyTop academics warn UK physics cuts threaten effort to boost economyMore than 50 heads of departments tell science minister that changes risk undermining crucial tech growth fieldsDrugs researchLongevity and ‘wellness’ craze breaks untested drugs out of the labHealth influencers promise an astonishing range of benefits from peptides, almost none of them tested in humansScienceNovo Nordisk Foundation backs quantum computing and life sciences beyond DenmarkWorld’s richest philanthropic organisation is co-ordinating with EU about research and innovation strategyDrug pricesNovo Nordisk halves US price of weight-loss drugDanish group is struggling to compete with rival Eli Lilly in the obesity marketAstraZeneca PLCLex. How AstraZeneca shot for the moon — and hitGetting one’s laboratories to do the hard work is a durable recipe for successDrugs researchLabels on statins overstate side effects, study findsMany listed adverse reactions of widely used medicine to reduce cholesterol are not supported by evidence, it saysGSK PLCCan GSK turn its drug pipeline into growth under Luke Miels?New chief must prove pharma group can offset patent expiries and hit ambitious growth targetsPharmaceuticals sectorAstraZeneca strikes $4.7bn China deal to boost weight-loss drugs pipelineDrugmaker expands push into fast-growing marketPharmaceuticals sectorWeight-loss drugs linked to risk of pancreatitis, UK regulator warnsMedicines watchdog urges vigilance over rare but serious side effect of GLP-1 medicinesMedical scienceCan smart pills make us healthier?Digital drugs that report when we’ve taken our medication are not without their trade-offsAnjana AhujaBiotechUK biotech keeps selling itself to AmericaA shortage of late-stage capital pushes the biggest prizes into US handsDrugs researchChina’s labs pull ahead as global drugmakers invest in biotech pioneersFaster trials and lower costs are drawing western multinationals as they seek new treatmentsDrugs researchObesity drug users will regain weight two years after ending medication, review findsExperts say health authorities need plans to deal with people coming off medicines such as Ozempic and WegovyArtificial intelligenceTrump cuts to academia risk ceding AI lead, warns Microsoft scientistVeteran executive Eric Horvitz argues talent and ideas will move abroad without US support for universitiesGSK PLCGSK hails promising trial results for hepatitis B treatmentDrug could provide a cure for condition that affects more than 250mn peopleScientific researchTrump’s attacks on American academia hurt Europe’s scientists, says official‘Science in the US being curtailed has an effect on all of us,’ says EU research funding chief Maria LeptinBiotechPrices for lab monkeys surge on China biotech boomMore drugs entering middle or late-stage development drive up demandAerospace & DefenceEurope’s largest defence groups set to return $5bn to shareholders in 2025Sector increases investment and rewards investors after surge in global military spending following Ukraine warNovo Nordisk ASNovo Nordisk weight-loss drug wins US approval as a daily pillShares in Danish company rise as drugmaker secures lead in oral obesity treatmentBiotechThe billionaire ex-Enron trader trying to upend US drug policyJohn Arnold parlayed windfall from natural gas bets into a foundation that is challenging medicine approvalsCannabis industryMarijuana stocks tumble as Trump reclassifies drug but fails to legalise itUS president’s order would categorise cannabis as less dangerous and remove it from grouping with heroin and LSDUK economyUK to shift more research funding into AI and video gamesTen sectors, including the creative industries and life sciences, will share 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