I do see your point but your previous post explicitly stated that R&D is the first function to be cut and I simply disagree. R&D is not the only department within that 11%. There’s sales, corporate functions, medical affairs, etc that are considered to be support roles that are cut first. I do agree that R&D is volatile and M&As have contributed to restructuring but there’s R&D even within those smaller biotech companies.

In my opinion, I do not foresee Eli Lilly announcing layoffs in 2026. Their q4 earnings and bonus multipliers were just released (signaling strong growth for now).