Day three of the biotech dog and pony show saw one pharma company that unequivocally wants and needs to buy.
After Monday’s celebrations the sector gets down to discussing the difficult business of actually selling and making money from drugs.
Takeda gave biopharma’s M&A bill a big boost in 2018 but to see just how slow the year was, take a look at deal volumes.
Deal adds a marketed small molecule and three pipeline agents, although Lilly will share revenue from Viktravi and LOXO-195 with Bayer.
The takeovers of Loxo and Celgene put M&A back on the agenda, and positive clinical readouts from Sage and Axsome add to the celebratory mood.
Despite several changes of direction SAGE-217 comes out positive in postpartum depression, setting Sage Therapeutics up as a takeover target.
As the curtain came down on a quarter many in biotech would rather forget, big pharma groups stood out by being the least bad investment option.
Sanofi has followed a 2015 deal with an €80m stake, joining Lilly and Pfizer as an investor in Biontech.
Allergan, Biogen, Bristol-Myers Squibb and Lilly follow Pfizer and Merck & Co on price increases, and there could be more to come at JP Morgan.