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J.P. Morgan 2024: Financial Forecast Is Sunny For Firms Poised For Pharma Deals

Clouds Seemed To Lift At Annual Industry Meeting

 
• By Mandy Jackson

Drug developers weathered a tough 2023, but the year ended with new clarity about interest rates and big pharma M&A priorities, reducing the risk of financial storms in 2024, investors and advisors said.

Sweeping view of a partly cloudy sunrise over the Ventura coastline
A new, sunnier day may be dawning in biopharma finance • Source: Shutterstock

The mood of biopharmaceutical company executives and investors attending this year’s J.P. Morgan Healthcare Conference in San Francisco was decidedly sunnier than in 2023 – and with good reason. Public company valuations spiked at the end of last year based on the prospect of stabilizing or declining interest rates in 2024 and a recent uptick in $1bn-plus merger and acquisition activity.

In terms of M&A, investors couldn’t be happier. Big pharma is back to buying small and mid-sized biopharma companies to refill their research and development pipelines and their commercial portfolios

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