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Pharma news over the Christmas period

If the recent performance of biotech stocks prompted you to pull down the shutters until the New Year celebrations subsided here’s what you might have missed.

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Death of a unicorn

Moderna’s upsized IPO is the biggest-ever for a pre-commercial biotech. But its share price has fallen in early trade on its first day.

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Moderna picks its moment

The buttoned-up biotech, recently valued at $7bn, has finally unveiled plans to go public. But investor appetite for new issues has taken a knock. Does Moderna’s move…