Many corporate-backed funds remain enthusiastic venture investors, but some might be hitting the brakes.
Covid-19 vaccine developers stand out as global drug stocks tread water in the first quarter.
The first quarter of 2021 saw fewer deals than any in recent memory.
Reliance on established drugs lessened for most large drug makers last year, but staleness is creeping in at Merck and Bristol.
The first quarter of 2021 sets a new record, but the tide might be starting to turn.
With a record $7.1bn raised in the first quarter the cash available to private drug developers shows no signs of drying up.
A lot of money is sloshing around, and medical device start-ups are reaping the benefits.
More and more drugs are being approved conditionally on flimsy data, and Imfinzi is just the second to be pulled after failing a confirmatory trial.