COVID-19 kept its grip on the world in 2021 as one new variant after another created new waves of infection, forcing regulatory officials to face ongoing political and logistical pressures in dealing with drug and vaccine approvals, mergers and acquisitions, manufacturing issues and demands for pricing reforms.
Citing a surge in merger filings, the U.S. Federal Trade Commission (FTC) said it is adjusting its process for reviewing mergers, which means more mergers may be reviewed retroactively.
PARIS ‒ Kiomed Pharma SA reported it has signed an exclusive agreement with fellow Belgian company, Moveup SA for the development and licensing of a mobile companion application intended for personalized conservative management treatment for patients suffering from intra-articular osteoarthritis.
Biopharma deal-making activity continues to keep the same pace as 2020, but the value of completed mergers and acquisitions is still painfully languishing in comparison with other recent years. While pandemic partnerships appear to be falling, oncology and regenerative medicine are driving the high-money deals, as are an increasing number of billion-dollar pacts. Meanwhile preclinical efforts account for about 23% of this year’s total value, and the amounts of up-front payments, particularly for clinical-stage products, are rising.
An international task force launched in March to identify new approaches for analyzing and addressing competitive concerns arising from biopharma M&As is now seeking public comment to inform their review.
Laboratory Corporation of America Holdings (Labcorp) further consolidated its position as a leading provider of rheumatoid arthritis testing with a definitive agreement to acquire the Vectra assay from Myriad Genetics Inc. along with other assets of the Salt Lake City-based company’s autoimmune business unit in a deal valued at $150 million in cash. The transaction is expected to close by the end of the third quarter of 2021.
It might be difficult to view the past year through anything other than a COVID-shaped hole. But 2020 brought some remarkable and impactful news for the biopharma sector that had little to do with the novel coronavirus. In this end-of-year recap, BioWorld takes a look at some of achievements and trends affecting the industry that were completely unrelated to – or, in some cases, in spite of – the COVID-19 pandemic.
With record financings and now record deals in 2020, as well as a respectable value accumulated through completed mergers and acquisitions, the biopharma industry has managed to circumvent a crippling economic slowdown during the COVID-19 pandemic.
If there are three takeaways from this year’s dealmaking efforts, they appear to be record-setting partnerships, lackluster M&As, and massive amounts of research funding via the U.S. government.
Still not there yet, but close. Biopharma projected deal values are currently at $159.4 billion, just shy of the 2019 record of $160.3 billion. With about six weeks left in the year, it is highly likely that 2020 will come out on top.
