Strong sales growth and licensing activity in 2023 helped multiple Chinese biotechs to a solid profit performance, some moving into the black for the first time.

Global crises and a tough funding environment mean biopharma leadership teams need to work hard to survive, let alone thrive. Industry executives shared their predictions and advice on strategy for 2024.

With valuations down and borrowing costs up, many industry insiders are expecting Darwinian scenes in biotech this year. Survival of the fittest is the order of the day: companies with riskier, less commercially defined propositions will struggle, while platform companies with multiple shots on strong goals will increasingly find favor in a more risk-averse environment.

Bristol Myers Squibb thinks Turning Point’s ROS1/TRK inhibitor shows a best-in-class profile and potential to compete more successfully against Pfizer’s Xalkori than Roche’s Rozlytrek has.