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.
J.P. Morgan 2024: Financial Forecast Is Sunny For Firms Poised For Pharma Deals
Clouds Seemed To Lift At Annual Industry Meeting
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.
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The founder and director of City Therapeutics and founding CEO of Alnylam discussed pressing issues facing the biotech sector in a fireside chat at the recent BIO CEO & Investor Conference.
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All the elements for a big M&A year are in place, but political uncertainty and interest rates could push more deals into the second half of the year, according to business development experts at BIO CEO & Investor.
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Highlights from the BIO CEO & Investor Conference, held in New York 10-11 February, include the impact of US political changes, Chinese companies entering the obesity race, and IPO pitfalls.