Fourth-Quarter Surge in Deals Lends (Cautious) Hope for 2010
- The National Venture Capital Association recently reported that biotech investments declined 19 percent in 2009 compared to 2008.
- The industry saw a surprise fourth-quarter surge in deal-making: 75 deals at a total value of $15 billion.
- Among big pharmaceutical firms, Novartis was busy in the fourth quarter, signing seven deals worth $2.4 billion. GlaxoSmithKline PLC was busier with nine deals of a value of $2.8 billion.
Takeaway: Biotech investment is expected to pick up in 2010, especially with players like Merck & Co. Inc being mostly absent in 2009.
Source: Jennifer Boggs at BioWorld Today