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LONDON, BOSTON, TOKYO (February 11, 2020) – The top 600 biopharma firms added $487 billion in market capitalisation in 2020, according to the Evaluate Vantage Pharma, Biotech & Medtech 2020 in Review report, published today. Companies developing COVID-19 treatments experienced some of the largest gains; the greatest market cap increases by percentage were Novavax (2,702%) and South Korea’s Shin Poong (1,613%).
2020 also saw an unprecedented amount of cash flow into the sector. Drug developers raised a record-breaking $12.7 billion via IPO. This was more than twice the total raised in 2019, and the average amount raised ($167 million) nearly doubled. Private companies also broke records, with an astonishing $20bn invested by venture financers, although the total number of financing rounds was lower than in prior years.
For medical device makers, 2020 delivered split outcomes. The most successful large-cap companies like Teladoc and Novocure saw share prices double, but others like Boston Scientific and Becton Dickinson saw double-digit losses. Privately-held device companies benefitted from an influx of venture capital with a total of $6.4 billion, and medtech IPOs were generally well-received.
“The pandemic shone a spotlight on the drug development sector and investor interest drove pharma and biotech to new heights in 2020,” said report author Amy Brown. “This has set expectations quite high, and many richly-valued companies are under pressure to deliver in 2021.”
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To download a complimentary copy of the report, visit https://www.evaluate.com/2020Review.
About Evaluate Ltd
Since 1996, Evaluate, a Norstella company, has provided the life sciences industry with the data, insight and intelligence to facilitate confident decision making on high-value investments in treatments and markets. We enable our clients to embed our proprietary and industry data into their workflows, tools and processes so they can work more effectively and efficiently. For more information about Evaluate, visit www.evaluate.com and follow us on LinkedIn and Twitter.
Norstella consists of several prominent pharmaceutical solutions providers—Citeline, Evaluate, MMIT, Panalgo, and The Dedham Group. United by a shared mission, to help patients gain access to life-saving therapies. Norstella offers comprehensive insights throughout the drug development lifecycle, leveraging unparalleled data, cutting-edge technology, and expert insights and consultancy. For more information, visit Norstella and follow on LinkedIn.