Pharma & Health: The European Commission granted marketing authorisation under exceptional circumstances for NEZGLYAL® (leriglitazone) for childhood cerebral adrenoleukodystrophy (cALD), the first pharmacological treatment approved in the EU, with first launch expected in Germany by year-end. Biotech Pipeline: EMA CHMP issued a positive opinion for perioperative pembrolizumab plus enfortumab vedotin for resectable muscle-invasive bladder cancer, now moving to an EC decision for EU, Iceland, Liechtenstein and Norway. Trade & Tariffs: The U.S. Department of Commerce clarified specialty pharmaceutical exemptions from Section 232 tariffs ahead of the Sept. 29 deadline, stressing that eligibility is not automatic and requires product-level requests. Industry Policy: EU “Made in Europe” procurement rules are drawing fresh criticism as protectionism via local-content and low-carbon requirements, with UK concerns about car-industry impact. Liechtenstein in the Market: Russia extended its Western food import ban through 2028, explicitly listing Liechtenstein among affected origins. Automotive: Chinese automakers kept gaining ground in Europe, with registrations rising across the EU plus Iceland, Liechtenstein and Norway. Finance Tech: Ondo launched tokenised “Intelligent Portfolios” using BlackRock strategies, aiming to make model portfolios transferable onchain. Space & Research: CSA (Switzerland and Liechtenstein) is building a pathway to move experiments from ground testing and parabolic flights to ISS microgravity research, with access opportunities via Starlab.