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LONDON, BOSTON, TOKYO (February 26, 2019) – Macroeconomic trends in Q4 wiped out biopharma’s stock market gains from earlier in 2018, with the S&P Pharmaceuticals Index the only major biopharma index to finish the year in the black. M&A and product licensing volumes were also down, despite notable deals such as Takeda’s $64bn acquisition of Shire and Bristol-Myers Squibb’s $1bn payment to Nektar. Deal-making slowed in the medtech sector too, with fewer acquisitions closed and a corresponding decrease in venture investment rounds.
Conversely, 2018 was a banner year for venture financing, with $16.8bn invested in drug development start-ups. Biotech IPOs set new records, with two of the biggest flotations – Moderna and Allogene – occurring in the final months of the year. Medtech IPOs also flourished in the fourth quarter, giving the smaller players a welcome cash injection. The FDA set records as well, with 62 novel drugs approved, and managed a slight reduction in average approval times.
“The progress of biopharma and medtech companies last year paints a mixed picture,” said Amy Brown, co-author of the Evaluate Vantage Pharma, Biotech and Medtech 2018 in Review report. “However, there are signs of health, if the industry is able to capitalize on them”.
To download a complimentary copy of the report, visit http://www.evaluate.com/2018Review.
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