Starting 2023 in a rut, biopharma share prices sparked back to life in Q2, with a $141bn boost to the valuation of companies in the Evaluate Vantage universe. Yet, this upturn was largely driven by big pharma, and notably by Lilly, now the largest pharma player by market cap, buoyed by optimism over its obesity franchise.
In biopharma dealmaking, there’s been a buzz in the M&A arena, but investor caution persists. Venture financing is on the rise, with a widening gap between the 'haves' and 'have-nots'. While the IPO scene is stirring, it remains to be seen whether this indicates a steady resurgence.
Moving to medtech, FDA approvals almost matched 2022's full-year count in just the first half of 2023. By contrast, M&A activities and venture rounds were scarce. The few deals observed lean towards divestitures over innovative acquisitions, with medtech IPOs hitting an absolute zero in H1 2023.
Download our H1 Round Up now for our team’s analysis of what went down in the first half of the year, providing insights for your 2023 outlook.