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.
Yahoo finance today states :The scenario for the biotech...
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Last
8.2¢ |
Change
-0.003(3.53%) |
Mkt cap ! $600.2M | |||
| Open | High | Low | Value | Volume |
| 8.5¢ | 8.6¢ | 8.2¢ | $1.246M | 14.84M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 446526 | 8.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 8.3¢ | 535664 | 2 |
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| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
8.2¢ |
Change
-0.003 ( 2.38 %) |
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| Open | High | Low | Volume | ||
| 8.6¢ | 8.6¢ | 8.2¢ | 4518456 | ||
| Last updated 15.57pm 03/05/2024 ? | |||||
| IMU (ASX) Chart |