Well, it looks like the tide might be turning in your favour.
Hi, I am Camille from Kieger.
Over the past few weeks, Biotech rebounded on positive data readouts, IPO and M&A deals picking up. With Pfizer looking to acquire Seagen, Merck going after Prometheus, Sanofi buying Provention Bio, GSK Bellus and many others, we have already reached M&A levels from last year as our chart shows.
So, will the FTC’s decision to sue to block Amgen from acquiring Horizon deter M&A?
We believe, the FTC’s action confirms that there is still a place for innovation. Biotech valuations continue to be very attractive and long-term prospects remain strong. Large pharma companies are sitting on $130bn cash and urgently need to boost their pipelines and actually a more difficult financing environment might push Biotech executives to consider alternatives.
Thus, we think this is only the beginning.
