The biopharmaceutical industry is aiming for a 2025 reversal of last year’s slump in investor returns but remains wary over what President-elect Donald Trump’s priorities might be on hot button issues such as drug pricing reforms and vaccines. The pharma industry faced its biggest regulatory change in decades with the Biden Administration’s Inflation Reduction Act of 2022, which allowed the federal government’s Medicare health plan for the first time to negotiate prices for its costliest prescription drugs.