I'm afraid the NBI is nowhere near its heady highs of 2021, but you are correct in that big pharma is sitting on record piles of cash that it is looking to deploy towards growth.
With interest rates set to fall in the US and biotech valuations still coming off a depressed base, M&A activity could really heat up....
I'm afraid the NBI is nowhere near its heady highs of 2021, but...
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