Although the world-famous groundhog Punxsutawney Phil awoke to see his shadow at the beginning of the month, predicting a further six weeks of winter, thanks to President Donald Trump's vow of a major impending tax announcement, it looks as though biopharmaceutical companies will enjoy an early spring. Their stocks have surged more than 4 percent so far this month in lockstep with the bullish general markets that have hit record highs, with investors believing that the new administration's plans for tax reforms will expand the economy.
The day after the November election victory for President Donald Trump the BioWorld Biopharmaceutical index shot up 9 percent, with investors returning to the battered sector believing that the issue of drug pricing that had dogged the industry all last year would not be high on his administration's agenda.
Biotech investors live on their nerves these days and it doesn't take much for them to head for the hills on any negative news. Recall a tweet last September from presidential candidate Hillary Clinton, which essentially said she would take on the issue of rising drug prices. That served to tank the biotech sector, which lost more than 5 percent in value in one day. Although it took a couple of months, the industry did recover and get back to its original pre-tweet level.
SAN FRANCISCO – Big pharma companies are poised to intensify their shopping spree this year as they continue their quest to acquire biotech products and other assets that will improve their inorganic growth and add to their bottom lines. The already heated mergers and acquisitions (M&A) environment saw the value of those transactions exceed $200 billion in 2016.
SAN FRANCISCO – The regenerative medicine sector continues to actively build, remarked Morrie Ruffin, managing director of the Washington-based Alliance for Regenerative Medicine's (ARM), in introducing the 2017 state of the industry briefing presented at the Biotech Showcase conference. Not only is that being reflected by the size of the industry but also in the attendance at ARM's annual event, now in its seventh year.
Cash flowing to global private companies in the fourth quarter slowed slightly, with venture investments totaling approximately $2.08 billion for the period. That amount was 7 percent lower than the $2.25 billion generated in the third quarter. However, deal volume increased with a total of 69 deals completed, compared with the 59 deals that took place in the previous quarter. For the year, private financing deals amounted to $8.62 billion.
SAN FRANCISCO – You either love it or hate it. San Francisco's J.P. Morgan Healthcare Conference is upon us, bringing with it filled-to-capacity meeting rooms, pushing and shoving in crowded corridors as delegates try and make it to their next presentation or business meeting on time, and wall-to-wall receptions throughout the week. Factor in other interesting meetings such as Biotech Showcase and OneMedForum and you have the recipe for one crazy period that even veteran attendees need oxygen to help recover from the ordeal before staggering home for a rest.
Company managers, business executives and scientists expressed their views on a variety of topics throughout the year. Here we feature a selection of those that helped define the year that was.
Company managers, business executives and scientists expressed their views on a variety of topics throughout the year. Here we feature a selection of those that helped define the year that was.
The biopharmaceutical sector limps into the New Year bidding farewell to periods of significant market turbulence and intense public, media and political pressure brought about by the perceived high price tags for drugs. Add in mixed financial performances, drug failures and a smaller number of new drugs being approved and it is no wonder that the sector's collective equities finished down 20 percent in value, closing its doors on what will go down as one of the sector's worst performing 12 months in the past several years.
