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LONDON, BOSTON, TOKYO (July 29, 2020) – Despite a $464 billion loss in market capitalisation in Q1 due to the ongoing COVID-19 pandemic, biopharma finished the first half of 2020 up, thanks to a strong rebound in Q2. The combined market cap of biopharma companies within the Evaluate universe increased by $190 billion compared with the end of 2019, according to the Pharma, Biotech and Medtech Half-Year Review 2020, published today by Evaluate Vantage, the editorial team at Evaluate Ltd.
Other signs of the speed and strength of biopharma’s recovery include 26 IPOs floating on Western exchanges, raising an average of $193 million, as well as $9.7 billion in new venture financing. Within medical devices the results were more mixed, with ventilator and diagnostic manufacturers among the winners, and orthopaedics and cardiology companies experiencing losses.
Key Highlights from the Report Include:
“Biopharma was not immune from global market declines in March, but the sector has staged an impressive comeback,” said report author Amy Brown. “With coronavirus capturing investors’ attention and stock markets appearing healthy, the sector enters the second half in a strong position."
Download your copy of the Evaluate Vantage Pharma, Biotech and Medtech Half-Year Review 2020 at evaluate.com/HalfYear2020. You can sign up for Evaluate Vantage daily news and analysis at evaluate.com/vantage/daily.