Alnylam Pharmaceuticals, Inc. (ALNY): PESTLE Analysis [Nov-2025 Updated]

You're trying to gauge the true strategic landscape for Alnylam Pharmaceuticals, Inc. (ALNY), and honestly, it boils down to navigating regulatory headwinds while capitalizing on their revolutionary RNA interference (RNAi) platform. For 2025, Alnylam Pharmaceuticals, Inc. is defintely a high-growth story, projecting net product revenue near $1.85 billion, but that growth is tethered to a massive research and development (R&D) spend, projected at nearly $1.25 billion, which is crucial for defending their core patents and pushing the pipeline. The real challenge is political-specifically the US Inflation Reduction Act (IRA) drug price negotiation risk for mature products like Onpattro-which directly impacts the economic outlook, so we need to look beyond the technological dominance to map out the legal and environmental pressures you need to act on now.

Alnylam Pharmaceuticals, Inc. (ALNY) - PESTLE Analysis: Political factors

The political landscape for Alnylam Pharmaceuticals, a leader in RNA interference (RNAi) therapeutics, is a high-stakes balance of regulatory tailwinds and pricing headwinds in 2025. You are navigating a world where government policy directly impacts product development strategy and revenue forecasts. The core political risk is the US focus on drug pricing, but this is offset by favorable regulatory pathways for rare disease innovation.

US Inflation Reduction Act (IRA) drug price negotiation risk for mature products like Onpattro.

The Inflation Reduction Act (IRA) creates significant uncertainty, especially around the single-orphan drug exemption. The law exempts a drug from Medicare price negotiation if it has only one approved orphan indication. Alnylam is defintely managing its pipeline to protect this status.

For example, Alnylam previously decided not to proceed with a Phase 3 trial of vutrisiran (Amvuttra) for Stargardt disease, a rare eye disorder, specifically to avoid triggering the IRA's negotiation clause. Amvuttra was already approved for hATTR amyloidosis polyneuropathy, and a second orphan indication would have made it eligible for negotiation.

While the IRA's second cycle of negotiations (IPAY 2027, with negotiations occurring in 2025) targets drugs with the highest gross Medicare Part D spend, Alnylam's mature product, Onpattro (patisiran), was not selected for the list announced in January 2025. This is a crucial near-term de-risking event. Still, the risk remains for future cycles as the TTR franchise grows. Here's the quick math on the TTR franchise's 2025 performance, which drives this political scrutiny:

Increased global scrutiny on rare disease drug pricing and access.

The high list prices inherent to rare disease treatments-often called orphan drugs-place Alnylam under continuous political and public scrutiny globally. Amvuttra, for instance, was priced at $476,000 per year for the cardiomyopathy indication. This is a significant premium that invites intense review from payers and Health Technology Assessment (HTA) bodies worldwide.

To be fair, the company is proactive in mitigating this political pressure through access programs. AlnylamAssist is a key component, with the goal of ensuring the majority of eligible patients pay $0 in out-of-pocket costs. This patient-centric approach helps temper the political backlash against the high list price.

Global regulatory success in 2025 also increases exposure to foreign pricing politics. Alnylam secured regulatory approvals for AMVUTTRA in multiple major markets, including the European Union, Brazil, the United Kingdom, and Japan, in 2025. Each new market means a new round of price negotiation with national health systems, where the political mandate is to contain costs.

Favorable US Food and Drug Administration (FDA) fast-track and orphan drug designations.

A major political opportunity lies in the US government's continued support for innovative rare disease therapies through expedited regulatory pathways. The FDA's programs are a clear, favorable policy signal.

The company successfully leveraged the Priority Review pathway for its supplemental New Drug Application (sNDA) for AMVUTTRA (vutrisiran) in ATTR amyloidosis with cardiomyopathy (ATTR-CM), leading to approval on March 20, 2025. This fast-tracked review significantly accelerates time-to-market and revenue generation.

In the pipeline, nucresiran, a key candidate for ATTR-CM, received Fast Track Designation from the FDA's Division of Cardiology and Nephrology in 2025. This designation signals high unmet medical need and allows for more frequent FDA communication and a rolling submission of the marketing application, speeding up the overall development timeline. It's a powerful political endorsement of the science.

• AMVUTTRA sNDA approved for ATTR-CM on March 20, 2025.
• Nucresiran received Fast Track Designation for ATTR-CM in 2025.
• The Orphan Drug Act provides market exclusivity, a critical political protection.

Geopolitical tensions impacting global clinical trial execution and supply chain logistics.

Geopolitical instability is a growing political risk that translates directly into supply chain volatility and higher costs. The global Active Pharmaceutical Ingredient (API) market is estimated at $238.4 billion in 2025, and Alnylam, like all biotechs, relies on a complex, international supply chain for its RNAi components.

The new US tariffs announced in July 2025, which could reach up to 200% on pharmaceutical imports, especially APIs sourced from major suppliers like China and India, are a direct political threat. This tariff policy could lead to:

• Increased input costs for manufacturing.
• Supply disruptions and longer lead times.
• Pressure to diversify or reshore supply chains, which is costly and takes time.

Clinical trial execution is also at risk. The shift toward decentralized trials, while patient-friendly, adds logistical complexity that is easily disrupted by regional political instability or new cross-border compliance rules. Alnylam's focus on strategic vendor relationships and supply chain optimization, as highlighted by its executive participation in 2025 industry events, shows they are actively working to build robustness against these political and logistical shocks.

Alnylam Pharmaceuticals, Inc. (ALNY) - PESTLE Analysis: Economic factors

Projected 2025 Net Product Revenue of Approximately $3.0 Billion

Alnylam Pharmaceuticals is transitioning from a high-growth biotech to a commercially mature, profitable entity, driven by its RNA interference (RNAi) therapeutics. The company's latest guidance, updated in October 2025, projects total net product revenues for the full year 2025 to be between $2.95 billion and $3.05 billion. This is a massive jump, reflecting the successful market penetration of its key products. Amvuttra is defintely the star here.

The Transthyretin (TTR) franchise, which includes Amvuttra (vutrisiran) and Onpattro (patisiran), is the core economic engine, projected to generate between $2.475 billion and $2.525 billion in net product revenue for 2025. This growth is largely fueled by the strong U.S. launch of Amvuttra for ATTR amyloidosis with cardiomyopathy (ATTR-CM), with Amvuttra sales alone reaching $685 million in Q3 2025, a 165% year-over-year increase. The Rare franchise (Givlaari and Oxlumo) is expected to contribute a steady $475 million to $525 million.

High Research and Development (R&D) Expenditure to Fund Late-Stage Pipeline

To sustain this commercial momentum, Alnylam is keeping its foot on the R&D gas pedal. The company is investing heavily in its late-stage pipeline, which is crucial for long-term revenue diversification. For Q3 2025 alone, Non-GAAP R&D expenses were $310 million, a 23% increase from the prior year, showing the rising cost of clinical trials. Here's the quick math: that Q3 figure alone is more than a quarter of the initial $1.25 billion estimate, reflecting the accelerating costs.

The full-year 2025 guidance for Non-GAAP Combined R&D and Selling, General, and Administrative (SG&A) expenses is projected to be between $2.15 billion and $2.20 billion. This significant spend is primarily directed at advancing multi-billion-dollar opportunities like the Phase 3 trials for nucresiran (for ATTR-CM) and zilebesiran (for hypertension), plus starting two new Phase 3 trials in Q3 2025. You can see the clear commitment to the next wave of products in that number.

Global Inflation Pressures Increasing Manufacturing and Operational Costs

While the top-line revenue is strong, the bottom line faces macro-economic headwinds. Global inflation is a real problem for complex biopharma manufacturing. We see industry-wide pressures from rising energy prices-with gas costs for European manufacturers increasing by up to 65% and electricity by 30%-and transportation costs soaring by up to 500% in some instances. These input cost hikes directly impact Alnylam's cost of goods sold (COGS) for its RNAi therapeutics, which are complex to produce.

Also, the introduction of broad U.S. import tariffs in 2025 is a new risk, threatening to increase input costs across the life sciences sector by an estimated $20 billion annually for the industry as a whole. This tariff pressure, plus general inflation, makes achieving the goal of sustainable non-GAAP profitability-a key P5x25 target-more challenging, even with booming sales.

Strong Cash Position Supporting Pipeline Investment and Potential Business Development

The good news is the company has a substantial war chest to manage these risks and fund its ambitions. Alnylam ended the third quarter of 2025 (September 30, 2025) with a robust cash, cash equivalents, and marketable securities position of approximately $2.725 billion. This strong liquidity is a critical economic factor, as it shields the company from short-term market volatility and allows for aggressive, uninterrupted investment in its late-stage pipeline.

This cash reserve also provides flexibility for potential business development, like in-licensing or acquisitions, which is a key strategic lever in the biotech world. The financial foundation is solid, so they can afford to take calculated risks on new programs.

• Maintain R&D funding for nucresiran and zilebesiran trials.
• Finance launch expansion of Amvuttra globally.
• Mitigate rising input costs from global supply chain inflation.

Finance: Monitor gross margin closely for Q4 2025 to track the impact of inflation on COGS.

Alnylam Pharmaceuticals, Inc. (ALNY) - PESTLE Analysis: Social factors

Growing patient advocacy for rare diseases, increasing demand for novel therapies.

You are defintely seeing a major shift in the rare disease landscape, and Alnylam Pharmaceuticals, Inc. is right in the middle of it. Patient advocacy groups are no longer just support networks; they are powerful, organized forces driving diagnosis, funding, and regulatory action. This heightened advocacy is directly fueling demand for novel therapies like RNA interference (RNAi).

The company's commitment, encapsulated in its P5x25 strategy, puts patients at the core. This focus has translated into real-world patient uptake. For instance, the Transthyretin (TTR) amyloidosis franchise, which includes AMVUTTRA and ONPATTRO, saw its net product revenue surge to $544 million in the second quarter of 2025, marking a remarkable 77% year-over-year (YoY) increase. This kind of growth doesn't happen without strong patient and physician demand for transformative treatments.

Public perception of genetic therapies (RNAi) is generally positive but requires education.

The public's view of genetic medicine, or gene-silencing technology (RNAi), has improved dramatically, especially following the success of mRNA vaccines during the pandemic. This Nobel Prize-winning science is now a clinically validated approach, which is a huge social tailwind for Alnylam Pharmaceuticals, Inc. Still, the complexity of RNAi-which uses small interfering RNA (siRNA) to turn off disease-causing genes-means that education remains a constant necessity.

Alnylam Pharmaceuticals, Inc. actively manages this through its commitment to health literacy, ensuring the science is understood by the patient communities they serve. This is critical because, while the technology is powerful, the public needs to trust a medicine that works at the genetic root of a disease. It's a powerful technology, but it requires clear, plain-English communication.

Demographic shifts increasing prevalence of age-related diseases targeted by their pipeline.

The aging population in the U.S. and globally is a macro-social trend that maps perfectly to Alnylam Pharmaceuticals, Inc.'s pipeline strategy. The expansion of AMVUTTRA into ATTR amyloidosis with cardiomyopathy (ATTR-CM) is a clear example, as this is a progressive, age-related condition.

The market opportunity here is massive, but it is also socially challenging. Only about 20% of TTR cardiomyopathy patients in the U.S. are currently diagnosed, indicating a huge, underserved patient pool that is growing with demographic shifts. The company is also directly addressing age-related diseases with its investigational RNAi therapeutic, mivelsiran, for Alzheimer's disease, with a Phase 2 study expected to start in the second half of 2025.

Here's the quick math on the ATTR-CM launch:

• AMVUTTRA sales for ATTR-CM contributed about $150 million in Q2 2025.
• Approximately 1,400 ATTR-CM patients were on AMVUTTRA as of June 30, 2025.
• The price point is high, but patient uptake is strong.

Focus on health equity in drug access, pressuring price sensitivity in emerging markets.

The social pressure for health equity-ensuring all patients, regardless of socioeconomic status or geography, can access life-saving treatments-is a major risk factor for high-priced rare disease drugs. The annual list price for AMVUTTRA in cardiomyopathy is approximately $476,000 per year, which is a significant premium that invites scrutiny from payers and public health bodies worldwide.

To be fair, Alnylam Pharmaceuticals, Inc. has a global Patient Access Philosophy, but the rubber meets the road on price. In response to this pressure, the company's CFO stated in Q2 2025 that they anticipate a mid-single digit reduction in net price for their TTR franchise this year, primarily through rebates and pay-for-performance contracts. This is a direct, concrete action to manage the social and political pushback on drug costs.

The challenge is amplified by recent global approvals for AMVUTTRA in ATTR-CM in diverse markets like the European Commission, Brazil, the UK, and Japan, each with unique pricing and reimbursement hurdles.

The next step is to monitor the actual net price erosion in the second half of 2025 and its impact on the updated full-year revenue guidance of $2.65 billion to $2.8 billion.

Alnylam Pharmaceuticals, Inc. (ALNY) - PESTLE Analysis: Technological factors

Dominance in RNA interference (RNAi) technology, a proven, validated therapeutic platform.

Alnylam's core strength is its undisputed leadership in RNA interference (RNAi) therapeutics, a technology that silences specific disease-causing genes. This isn't theoretical science anymore; it's a fully validated commercial platform. For 2025, the company's total net product revenue guidance was raised to a range of $2.95 billion to $3.05 billion, a huge jump that proves the market accepts this technology as a standard of care for certain diseases. The entire RNAi technologies market is estimated to be around $5.5 billion in 2025, so Alnylam controls a significant portion of this innovative space.

The success is concentrated in the Transthyretin (TTR) franchise, which includes Amvuttra and Onpattro. The TTR franchise revenue guidance for 2025 was increased to a range of $2.475 billion to $2.525 billion. That's a clear signal that the underlying gene-silencing mechanism works, and patients are adopting it quickly. You can't argue with those numbers.

Advancements in delivery systems, like the subcutaneous delivery of Amvuttra, improving patient compliance.

The biggest technological win for Alnylam in recent years hasn't just been the drug itself, but how they deliver it. The shift from intravenous (IV) infusion to subcutaneous (SC) injection dramatically improves the patient experience, which is defintely a key driver of commercial success.

Amvuttra (vutrisiran) is the perfect example, administered as a simple SC injection just once every three months (quarterly). This convenience is a massive competitive advantage over older, more frequent treatments. To be fair, this ease of use is why the launch for Amvuttra in ATTR amyloidosis with cardiomyopathy (ATTR-CM) has been so robust, with approximately 1,400 ATTR-CM patients on the therapy as of June 30, 2025. That's a fast uptake.

Need to defend and extend core patents against competitors developing next-generation RNAi.

The flip side of technological dominance is the constant need to defend your intellectual property (IP). Alnylam has built a formidable wall of patents, with a global portfolio totaling 5,287 patents, of which over 52% are active. This is the moat protecting their revenue streams, but they must remain vigilant.

The competition, including companies like Ionis Pharmaceuticals and Arrowhead Pharmaceuticals, is aggressively developing next-generation RNAi and delivery methods. Alnylam must continuously extend its core patents, like the one describing siRNA gene therapeutics, such as US11401517B2, which is set to expire in August 2035. The action for you is clear: monitor patent litigation closely, because any crack in that IP defense could open the door for generic or competing next-generation products.

Rapid data analytics and AI integration to accelerate drug discovery and clinical trials.

Alnylam is smart about using digital tools to cut down the time and cost of drug development. They are actively integrating rapid data analytics and Artificial Intelligence (AI) into their discovery process. A key move in 2025 was their partnership with the Alliance for Genomic Discovery (AGD), which gives them access to over 250,000 genomic sequences.

This massive dataset helps them find new therapeutic targets faster and optimize clinical trials, like the Phase 3 program for nucresiran. Here's the quick math: industry reports suggest that biotech firms using AI-driven genomic analysis can reduce R&D costs by up to 30%. The company's commitment is reflected in its spending; R&D expenses for the twelve months ending June 30, 2025, were $1.160 billion, a 7.35% increase year-over-year. They are investing heavily to stay ahead.

• Use genomic data: Access 250,000+ sequences for target identification.
• Accelerate trials: Optimize dosing and patient selection for programs like nucresiran.
• Reduce cost/time: AI integration can cut R&D costs by up to 30%.
• Maintain investment: R&D spending hit $1.160 billion through mid-2025.

Alnylam Pharmaceuticals, Inc. (ALNY) - PESTLE Analysis: Legal factors

Ongoing intellectual property (IP) litigation protecting core RNAi patents and formulations.

Alnylam Pharmaceuticals' core business strength is its proprietary RNA interference (RNAi) technology platform, which is rigorously protected through a complex global patent estate. The most significant near-term legal risks involve high-stakes patent infringement lawsuits against major pharmaceutical competitors over the lipid nanoparticle (LNP) delivery technology, which is crucial for many RNA-based therapeutics. This is defintely a high-cost, high-reward legal battle.

In 2025, the litigation against competitors like Moderna and Pfizer/BioNTech over LNP technology patents (including U.S. Patent Nos. 11,246,933 and 11,382,979) reached critical junctures. The U.S. Court of Appeals for the Federal Circuit (CAFC) affirmed a non-infringement ruling for Moderna in June 2025, though the overall dispute with Moderna was resolved via a settlement in September 2025. Separately, the case against Pfizer and BioNTech, which involves six asserted patents, saw Alnylam concede the first round of litigation in May 2025 following a district court opinion on claim construction that favored the defendants.

The financial implications of these IP disputes are massive, representing potential royalty streams from billions of dollars in COVID-19 vaccine sales. A single patent, US8334373, covering the formulation of a key product, Onpattro (patisiran), was set to expire in May 2025, but the overall generic entry date for Onpattro is estimated to be much later, around August 2032 or August 27, 2035, due to other patents and regulatory exclusivities.

Strict global regulatory requirements for gene-silencing therapies, demanding extensive safety data.

As a leader in RNAi therapeutics, Alnylam operates in the highly scrutinized Advanced Therapy Medicinal Products (ATMPs) space, which faces unique and stringent global regulatory demands. Regulators insist on extensive safety and efficacy data, particularly long-term follow-up, due to the novel mechanism of gene silencing.

In the European Union, a significant portion of these innovative products are subject to enhanced oversight. As of mid-2024, of the 26 approved Cell and Gene Therapy Products (CGTPs), 88% were placed under 'additional monitoring,' and 38% received conditional marketing authorization, requiring ongoing submission of clinical data. This regulatory environment mandates that Alnylam's marketed products, such as Amvuttra and Onpattro, must sustain continuous, high-quality post-market data collection for years.

The global shift toward integrating real-world evidence (RWE) is crystallizing, too. The International Council for Harmonisation (ICH) M14 guideline, adopted in September 2025, sets a global standard for pharmacoepidemiological safety studies using RWE, which means Alnylam must now embed this data collection rigour upstream in its development programs.

Compliance with the European Union's General Data Protection Regulation (GDPR) for patient data.

The nature of Alnylam's rare disease focus means it handles highly sensitive patient genetic and health data, making robust compliance with the European Union's General Data Protection Regulation (GDPR) a critical legal factor. The penalties for non-compliance are severe, reaching up to €20 million or 4% of annual global turnover, whichever is higher.

To mitigate this risk, Alnylam maintains a global compliance program, including a dedicated process for cross-border data transfers and a specific contact for EU/EEA/UK/CH data privacy inquiries (EUdataprivacy@alnylam.com). The company relies on contractual measures, like Standard Contractual Clauses (SCCs), to ensure that third-party vendors and partners adhere to the same strict data protection standards, which is essential for global clinical trials and commercial operations.

Potential for new legislation on accelerated approval pathways and post-marketing commitments.

The regulatory landscape for accelerated approval pathways is tightening in 2025, directly impacting Alnylam's pipeline, which often leverages these pathways for rare diseases. The U.S. Congress's Consolidated Appropriations Act, 2023 (CAA), and the Food and Drug Omnibus Reform Act (FDORA) of 2022 significantly strengthened the FDA's authority over post-marketing requirements (PMRs).

New draft guidance issued by the FDA in January 2025 clarifies the term 'underway' for confirmatory trials, generally requiring active patient enrollment before or very shortly after accelerated approval. This is a crucial change. Plus, sponsors must now provide progress updates on confirmatory trials every 180 days to the FDA, increasing the administrative burden and accountability. Failure to meet these new, stricter deadlines can lead to expedited withdrawal of a product's approval.

• FDA requires confirmatory trials to be actively enrolling prior to or soon after Accelerated Approval.
• Sponsors must submit progress reports to the FDA every 180 days.
• UK's new Clinical Trials regulations, effective April 2026 (starting April 2025), aim to cut approval timelines from 250 to 150 days.

This increased scrutiny means Alnylam must allocate substantial resources to its Phase 3 and Phase 4 trials, ensuring they are designed and executed to meet these tighter post-marketing commitments from the start. That's the only way to protect market access. Finance: draft a 13-week cash view by Friday to model the impact of a potential $20 million GDPR fine or a 6-month delay in a key confirmatory trial.

Alnylam Pharmaceuticals, Inc. (ALNY) - PESTLE Analysis: Environmental factors

You're looking at Alnylam Pharmaceuticals, Inc.'s environmental footprint, and the immediate takeaway is that their biggest challenge isn't what they control directly, but what their supply chain dictates. The company has made a significant, quantifiable move on its own manufacturing sites, but the real work-and risk-lies in Scope 3 emissions.

Honestly, any biotech company with a global footprint and a deep research pipeline is energy-intensive. Alnylam's strategy has been to tackle the easiest wins first, which is smart, but now the focus has to shift to the harder, less transparent parts of their value chain. This is where the financial risk of a carbon tax or a major supply chain disruption will hit first.

Need for sustainable manufacturing practices to manage chemical and biological waste from drug production

Manufacturing RNA interference (RNAi) therapeutics is a chemically intensive process, so managing hazardous and non-hazardous waste is a constant, high-stakes operational concern. Alnylam is actively working to quantify and reduce their waste footprint, including minimizing the use of organic solvents, which are a major environmental consideration in chemical synthesis. They are implementing new systems to measure and track both non-hazardous (municipal solid waste) and hazardous waste across all owned and leased facilities. This is defintely a necessary step, but the market needs to see the absolute tonnage reduction figures, not just the intent.

To improve lab sustainability, Alnylam is partnering with the non-profit My Green Labs to implement a pilot program in select Research & Development (R&D) and Quality Assurance/Quality Control (QA/QC) laboratories. This focuses on reducing the waste from single-use plastics and optimizing energy-intensive lab equipment. They are also diverting lab equipment and supplies to scientists in developing countries through a partnership with Seeding Labs, which is a great example of waste reuse.

Increasing investor and public pressure for robust Environmental, Social, and Governance (ESG) reporting

Investor pressure for transparent ESG data is no longer a niche concern; it's a core valuation driver. Alnylam is ahead of many peers here, having disclosed independently verified multiyear data on their environmental impact in their 2024 Corporate Responsibility Report, which was released in May 2025. This third-party verification of their Greenhouse Gas (GHG) emissions across Scope 1, 2, and 3 is a critical step that builds trust with institutional investors who use frameworks like SASB and GRI.

The company was even recognized as a Newsweek Most Responsible Company for 2025, ranking #153 overall, which was a jump of 223 spots from the previous year. That's a clear signal that their environmental stewardship initiatives are resonating with the public and market analysts. The market rewards this kind of progress.

Focus on reducing the carbon footprint of global supply chain and distribution networks

This is the big one. Your analysis should focus heavily on Scope 3 emissions, which represent the vast majority of Alnylam's total carbon footprint. In 2024, Alnylam's total carbon emissions were approximately 183,000,000 kg CO2e. Of that, Scope 3 emissions were around 160,000,000 kg CO2e. Here's the quick math: that means 87.4% of their total footprint comes from their value chain, primarily from Purchased Goods and Services, which accounts for 86% of their Scope 3 total. This is a massive dependency.

Alnylam has a target to reduce its combined Scope 1 and Scope 2 emissions by 30% from 2020 levels by 2030. They've made a strong start on this by sourcing 100% renewable energy for their Norton and Alewife manufacturing sites as of January 2024, effectively driving down their Scope 2 market-based emissions at those locations to zero. Still, the Scope 3 problem requires deep supplier engagement and a major capital investment in greening their raw material sourcing.

Here is a breakdown of the 2024 emissions data, which informs the 2025 risk profile:

Energy consumption of data centers supporting massive R&D computational needs

The core of Alnylam's business is R&D, and their computational needs for RNAi drug discovery and development are immense, requiring significant data center and high-performance computing (HPC) power. While the company doesn't disclose a specific kilowatt-hour (kWh) figure for its computational facilities, we can infer the scale from their spending. Alnylam's R&D expenses for the twelve months ending June 30, 2025, were $1.160 billion, a 7.35% increase year-over-year. This massive, growing investment in R&D directly correlates to the energy demands of their data infrastructure.

They are addressing this indirectly by:

• Sourcing 100% renewable energy for their largest manufacturing and R&D-supporting sites.
• Seeking energy reduction through renovations and partnerships in leased facilities.
• Using Power Purchase Agreements (PPAs) and Renewable Energy Credits (RECs) to offset energy use.

The risk here is that the rapid growth in R&D, necessary for their pipeline, could outpace their energy efficiency gains, making the Scope 2 reduction target harder to hit over time, even with the renewable energy purchases. They need to start reporting on a Power Usage Effectiveness (PUE) metric for their key data centers.

Next step: Finance: draft a sensitivity analysis on IRA negotiation scenarios for Onpattro by next Tuesday.