The biopharmaceutical industry showed in multiple ways during the second week of August how a rising tide lifts all ships. Signs that the US may be able to avoid a recession – low unemployment rates and stabilizing inflation – improved investor sentiment overall and good biopharma news in the form of multibillion-dollar deals and positive data readouts helped lift valuations across the industry.
August’s second week began with Pfizer Inc.’s planned $5.4bn purchase of Global Blood Therapeutics, Inc., strengthening investors’ faith...