MUMBAI - Lucrative opportunities in the business of vaccines has attracted one more big drug maker. India's Ranbaxy clinched a deal with Bangalore-based Biovel in an asset buyout that is expected to help it gain foothold in a market that reached $700 million in India and $21 billion in worldwide sales in 2008
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The company is expecting US FDA approval of the drug in a bigger indication, major depressive disorder, later this year.
The Kevin Tang-led firm will pay $4.38 per share for Cargo, which laid off most of its workforce following the failure of a Phase II CAR-T trial.
Evaluate’s second quarter data show that VC rounds of $100m or more totaled $2.36bn, down from $5.25bn in Q2 of 2024. Overall, the Q2 total dropped year-over-year to $4.92bn from $7.95bn.
