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Latest From Raptor Pharmaceutical Corp.
Lockdown To Reopening: China Rebound Uncertain As Biotech Remains In Survival Mode
The short-notice reopening of the country made 2022 a tough year for the health sector in China, where divestments, cash crunches and commercial challenges abounded. Throughout the year, despite clinical trial activity continuing to blossom, multiple Chinese innovative drug developers faced setbacks in the US from regulatory rejections of oncology products. Meanwhile, others quietly scaled back their operations in China, hit by the negative impact of deep price cuts.
Finance Watch: Sun Shines On Biotech Stocks As J.P. Morgan Ends
Public Company Edition: Also, Johnson & Johnson’s consumer health spin-out Kenvue filed paperwork to get the ball rolling on an initial public offering. In addition, Geron raised $198m and Madrigal accessed more than $300m after positive trial readouts, but layoffs were revealed by Editas, Elevation, Nabriva and others.
The Busiest Dealmakers Of 2022
With only weeks to go in 2022, the three major pharmas each had inked between 16 and 20 deals. Meanwhile, Pfizer has been less busy with 12 deals, but those include M&A totaling $18.2bn.
Finance Watch: PTC Secures Up To $1bn In Funding From Blackstone
Public Company Edition: PTC will get $350m up front as part of an initial $500m commitment. Also, while Biohaven and Vaxcyte launched traditional follow-on offerings, Recursion and Agios took the private placement and royalty sale routes, while others revealed job cuts and other strategic updates.
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