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.
We attended the ASCO 2023 annual meeting in Chicago. After the rise of immuno-oncology, COVID-19 challenged clinical trial execution and muted patient numbers. In the last years we saw many setbacks of once promising immuno-oncology combinations trials.
What mattered this month in healthcare? Q1 reporting came to a close, and FTC action put pressure on the biopharma space and... Find out more in our monthly healthcare newsletter.
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