1. Scrip
  2. >>Business
  3. >>Deals

Finance Watch: Panic Over FDA Commissioner's Resignation Was Short-Lived, Though IPOs Still Languish

 
• By Mandy Jackson

Public Company Edition: Biotech stocks sank when US FDA Commissioner Scott Gottlieb announced his departure, but have nearly recovered to pre-resignation levels, except for newly public firms. Also, Biohaven's raises cash for PRV purchase and Endo issues $1.5bn in new debt.

Finance Watch

The Nasdaq Biotechnology Index (NBI) plummeted when US FDA Commissioner Scott Gottlieb announced his resignation earlier this month, but has almost completely recovered now that a temporary replacement – who's also viewed as pro-innovation – has been named.

The NBI, after sinking during the last quarter of 2018, had surged in 2019 as investors anticipated an increase in...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Deals

In Brief: Bayer Commits Up To $1.3bn For Kumquat’s KRAS G12D Inhibitor

 
• By Mary Jo Laffler

Deal Snapshot: Bayer will take over development of the asset once Kumquat completes a Phase Ia clinical trial, but the biotech firm may opt in to share US profits and losses.

More Players, Better Pricing, Tough Equity Market: Royalty Deals Go Mainstream

 
• By Manas Mishra

Royalty deals are on track for another blowout year, but it’s not only because of a depressed biotech market. Large investment firms such as KKR are taking note.

Verona’s COPD Launch Success Sealed Merck Buyout Interest

 
• By Andrew McConaghie

SEC filings reveal that Merck was the sole bidder for Verona and its COPD drug Ohtuvayre, with the final $10bn deal wrapped up within a month.

Aurobindo Expects Lannett Acquisition To Pass FTC Scrutiny; Q1 US Revenue Falls

 
• By Vibha Ravi

Aurobindo is confident its planned Lannett acquisition will pass US FTC scrutiny after an attempt to acquire Sandoz assets was called off in 2020 post a delay in approval. The deal could widen Aurobindo’s US manufacturing presence at a time when its US Q1 revenue saw a year-on-year decline

More from Business

Lupin Confident Of US Growth On Tariff Mitigation, Rides High On Tolvaptan

 
• By Vibha Ravi

Lupin is hoping moves like intellectual property transfer for some products to the US will help mitigate the tariff impact even as it counts on growth from planned launches of GLP-1s and biosimilars while riding high on tolvaptan launched in Q1.

Quick Listen: Scrip’s Five Must-Know Things

 
• By Ian Haydock

In this week's episode: Trump ups pressure on MFN pricing; Pfizer says pharma working with Trump on direct sales; Sanofi says direct sales worth considering: Aurigene Oncology CEO on biotech valuations and more; and Novartis progresses pipeline-in-a-product assets.

BeBetter, Trinomab Advance IPOs On China’s STAR Market In Firsts Since Policy Easing

 
• By Dexter Jie Yan

BeBetter becomes first unprofitable innovative drug maker to have application for an IPO on Shanghai's STAR Market cleared by China’s top securities regulator, while Trinomab becomes first among peers to have IPO filing accepted.