Yahoo finance today states :
The scenario for the biotech industry in 2024 looks upbeat after a challenging ride in 2023.
New drug approvals, pipeline development, and an increase in mergers & acquisitions (M&A) activity boosted investor sentiment in the last couple of months, even though an uncertain macroeconomic environment was a headwind.
Pharma and biotech bigwigs are now looking to bolster their product portfolios and pipelines through collaborations and buyouts. Hence, M&A is back in the spotlight.
Pharma giant AbbVie ABBV recently announced two back-to-back acquisitions — Cerevel Therapeutics for $8.7 billion and ImmunoGen for $10.1 billion. Bristol Myers is set to acquire oncology-focused company Mirati Therapeutics for a total equity value of $5.8 billion. Earlier, Novartis acquired Chinook Therapeutics. Biogen acquired Reata Pharmaceuticals, Inc.
The recent spate of acquisitions has put the spotlight on biotech companies with a focus on oncology and rare diseases as acquisition targets.
Why IMU is a multi multi bagger, page-19809
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Last
4.5¢ |
Change
0.002(4.65%) |
Mkt cap ! $334.7M | |||
| Open | High | Low | Value | Volume |
| 4.3¢ | 4.5¢ | 4.3¢ | $732.0K | 16.76M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 1799587 | 4.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.5¢ | 1003772 | 13 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| IMU (ASX) Chart |