Biopharma financings in the last quarter of 2013 reached $6.4 billion, an increase of 39% over Q3’s $4.6 billion, thanks to a large boost from debt financings. The fourth quarter – the second-largest quarter of the year in terms of dollars raised – helped push 2013’s total to $26.6 billion, way above 2012’s $13.6 billion. (See Exhibit 1.) Almost half of 2013’s total came from Q2’s $11 billion take, which is largely attributed to Valeant Pharmaceuticals International Inc.’s concurrent $2.3 billion follow-on public offering [See Deal] and $3.2 billion sale of debt [See Deal] to fund its $8.7 billion acquisition of Bausch & Lomb Inc.[See Deal]
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