BIO 2022 Notebook: Deal Values In The Eyes Of The Beholders
• By Scrip Team and Pink Sheet Team
News and views from day three of the BIO annual meeting include business development insights, such as Sanofi's global head of BD Alban De La Sabliere's promise that big pharma has no hidden agenda and an AbbVie BD exec's observations that lower company valuations have not led to lower asking prices. Also, BIO chairman and Nkarta CEO Paul Hastings' optimism that biotech will rebound and Venus Williams' Sjogren's disease story draws a crowd.
• Source: Shutterstock
As 2022 proves to be a year of missed predictions and uncertainty, we are using this year's BIO notebook to provide additional context by reviewing different industry metrics to provide more perspective to the comments coming from the meeting.
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Bristol Myers Squibb notched two approvals in one week for its immuno-oncology combination, pitting the regimen head-to-head with Keytruda in a subset of CRC and with two combos in HCC.
Several biotech execs said they don’t expect much impact from the Trump administration’s threatened tariffs but are reviewing business practices to prepare.
China’s imposed large retaliatory tariffs on US pharmaceuticals on 10 April, but some domestic firms with in-licensed, US-origin assets were already moving to localized manufacturing.
A letter to US Senate HELP Committee Chair Bill Cassiday sounds an alarm about irreparable damage to the FDA, signed by more than 200 biotech executives and investors.
Evaluate data show that biopharma companies raising cash in the smallest and largest categories of venture capital financings struggled to meet bars set in prior quarters.
