Initial public offerings in the US by biopharmaceutical companies dipped slightly to 21 in 2023, including Johnson & Johnson’s spin-out of its consumer health business as Kenvue Inc., from 22 IPOs in 2022, which was down from record-breaking levels in 2020 and 2021. But based on the amount of money raised and the number of companies still trading in positive territory, relative to prior years, 2024 seems to be off to a good start.
IPO Numbers Dipped In 2023, But 2024 Is Off To A Good Start
Funds Raised This Year Double The Like Period Last Year
There were 21 biopharma initial public offerings in 2023, including J&J’s consumer health spin-out Kenvue, versus 22 in 2022. However, IPO proceeds are rising in 2024.
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