Despite gray skies and choppy waters in the biotech industry, Boston is still a port in the storm for drugmakers large and small. The longtime sector hub is home to hundreds of biotech companies and serves as a junction for Big Pharma to keep a finger on the pulse of key R&D hotspots. And those drugmakers still flock to Boston’s shores to be part of the action.

Eli Lilly, currently the most valuable pharma company in the world, announced yesterday that it would be leasing the remaining 75,000 square feet of a Boston Seaport facility the drugmaker now calls the Lilly Harborside Research & Development Labs, according to the Boston Business Journal. The company said the site’s expansion was “critical” as it explores new frontiers in genetic medicine.

But while bright spots remain, Boston and the state of Massachusetts are enduring a biotech winter. Venture capital has slowed in the face of uncertainties such as tariffs, drug pricing crackdowns and federal cuts to scientific endeavors, leaving the commonwealth with a slew of layoffs and a beleaguered entrepreneurial environment. Today, we’re exploring Massachusetts’ struggling biotech cluster and what it means for the industry.

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