BIO 2022 Notebook: How Is Industry Faring In Turbulent Times?
First Live Meeting Since 2019 Begins In San Diego
News and views from day one of the BIO annual meeting include reflections on how the biopharma industry is adjusting to current conditions. EY's annual Beyond Borders reports predicts continued success based on past performance, CBRE tracks how the life science industry is spreading out, and Organon's CEO discusses the company's biosimilars deal with Henlius.
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Organon has agreed to pay an upfront price of $73m plus potentially a further $30m in milestone payments this year alone for the rights to Shanghai Henlius Biotech’s HLX14 denosumab and HLX11 pertuzumab biosimilar candidates outside China. The deal also offers Organon an option to negotiate with Henlius for rights to its ipilimumab biosimilar.
Public Company Edition: Applied Molecular Transport, Scholar Rock, Agios and others join many of their peers in revising their strategies and downsizing their teams. Also, Zentalis grossed $200m from a follow-on offering and OKYO Pharma went public in the year’s smallest biopharma IPO in the US.
Market volatility, persistently high valuations, inflation and interest rates are among the issues sidetracking broader M&A, experts say.