Back to school, repeating the same class
After rebounding strongly in July from the prior month lows, markets took a breather in August, held back by the FED’s repeated warnings of rising interest rates. The fact that Jerome Powell’s Jackson Hole speech hinted at a possible recession, although not unexpected, only added to market nervousness. Healthcare equities shed 6.0% in August and global equities lost 4.2%. The sector’s year-to-date outperformance now stands at 4.8%.
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.
With M&A picking up, are we at a turning point for biotech? Check out our latest Kieger AG Chart of the Month Video.