Business
Investment in biopharmaceutical companies rose in 2024 compared to 2022 and 2023, despite previous declines in IPOs and venture capital funding. However, not all companies have benefited equally. Despite 2024 starting with Novo Nordisk's $16.5bn bang when it bought CDMO Catalent, this year has seen dealmaking but not in the range of years gone by.
Venture capital funding is up, and initial and follow-on public offerings are growing, but the building wave of investment in biopharma has not reached all companies.
Nine biopharma companies made 12 or more deals, with Novartis inking 21 deals and leading M&A activity. Roche, meanwhile, spent little up front but maintained a hectic pace with 12 alliances.
As the pharmaceutical industry readies itself to navigate the complexities of 2025, US pricing trends reveal a landscape shaped by regulatory and legislative changes, innovative pricing models, and the ongoing impact of inflation.
Dealmaking trends in 2024 point toward a healthier financial ecosystem than in 2023. However, with a challenging three quarters in 2024, enthusiasm should be curbed as 2024 rounds out in a slow and steady manner.