Businesses including FedEx have lined up to demand reimbursement for US tariffs they have paid but that the court last week deemed were imposed illegally, prompting heavy criticism from Donald Trump.
Smetters, whose model is widely used in Washington D.C. to analyze the fiscal and macroeconomic effects of federal policy, has Beltway policy chops including a stint as an economist at the Congressional Budget Office and Deputy Assistant Secretary for Economic Policy at the U.S. Treasury. He has advised Congress on dynamic scoring, and consults with policymakers from both parties on major tax and spending legislation. Smetters has described PWBM as a “sandbox” for legislators to workshop economic policy ideas.
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这种BD驱动型的盈利模式的可持续性正在得到验证。2025年，百利天恒因其双抗ADC药物与BMS的合作，收到2.5亿美元里程碑付款；礼新医药与默沙东的合作收到的3亿美元技术转移付款；和黄医药、宜明昂科等也因产品获批或临床进展获得数千万美元级别的付款。这些案例表明，BD交易不仅是纸面富贵，而是能够持续兑现的真金白银。