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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.
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