Biotech Investing in 2026: M&A Boom, FDA Shakeup & the Cancer Drug That Could Double Survival Rates | Ep.163

Is biotech finally back? In this episode, Stuart sits down with Ailsa Craig, co-manager of the International Biotechnology Trust from Schroders, a £1bn+ closed-ended fund with a 4% dividend yield and 30+ years of history, to break down everything self-directed investors need to know about the biotech sector right now. They cover: ✅ Why biotech has been in a prolonged bear market (and why that's changing) ✅ The M&A wave sweeping the sector — and how IBT is benefiting ✅ FDA uncertainty under the new US administration ✅ AI's real (and realistic) impact on drug development timelines ✅ The pancreatic cancer breakthrough that could be approved within months ✅ Where the best risk-adjusted opportunities are in biotech today ✅ What could be the "next game-changing" moment for the sector? Whether you're new to biotech investing or a seasoned investor looking for smarter sector exposure, this episode gives you a fund manager's inside view on one of the most complex - and rewarding - corners of the market. 🔔 Subscribe for more investing insights every week 👍 Like if you found this useful 💬 Drop your biotech related questions and comments below LINKS & RESOURCES: 🔗 International Biotechnology Trust: https://www.schroders.com/en-gb/uk/individual/funds-and-strategies/investment-trusts/international-biotechnology-trust/ 🎙️ The Armchair Trader: https://www.thearmchairtrader.com DISCLAIMER: This podcast is for informational and educational purposes only and does not constitute financial advice. Always do your own research before making investment decisions. 00:00 Introduction & welcome to Ailsa Craig 00:40 What is the International Biotechnology Trust? 02:28 How biotech boomed - and crashed - after COVID 05:35 Why the FDA matters so much to biotech investors 06:42 Innovation, ageing populations & unmet medical need 08:05 AI in drug development: hype vs. reality 10:06 Biotech strategies for investors 12:04 The "Biotech 2.0" opportunity: de-risked, commercial-stage companies 13:55 A wave of M&A activity this year 16:10 The pancreatic cancer breakthrough changing everything 18:55 What could be biotech's next game-changing moment?