The value of biopharma deals in 2021 rose above the prior year’s record by about 8%, thanks to an increasing number of high-money transactions. Mergers and acquisitions, however, fell 32% below 2020 as the industry gravitated more toward financings.
While the $118.3 billion raised by biopharma companies in 2021 through public and private transactions is 12% lower than the amount raised the prior year, it still represents an impressive financings record, led primarily by IPOs and venture capital rounds.
Just as the world appeared to be winning the battle against COVID-19, the rules of the game changed. Omicron and concerns about future variants flipped the board. Vaccines and monoclonal antibodies are attracting fresh scrutiny as SARS-CoV-2 evolves. Cases are climbing closer to the highest levels recorded since the pandemic began. Antivirals are aiming to fill treatment gaps, but whether they will or not is about as clear as the virus’ next move.
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