Goldman Sachs Takes Holding In CRO Aragen Amid Outsourcing Impetus
Goldman Sachs backs CRO Aragen, which it believes is well placed to gain from the “secular trend” of an outsourcing uptick by biopharma. Aragen has a string of alliances and is also assisting with both vaccine and test kit development against SARS-CoV-2 for its customers.
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Public Company Edition: Three companies postponed or withdrew their offerings, but drug developers continue to pursue IPOs. Also, Biocon, BMS and Epizyme raised money through new debt, Five Prime capitalized on positive data and Synthetic Biologic engaged a strategic advisor.
During Q2 biopharmas reached $5.9bn in merger and acquisition value and drew in $44bn in potential deal value from alliances. Device company M&A values reached $159m, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $1.4bn.
COVID-19 and the related lockdown has sharply curtailed pharma’s face-to-face interactions with healthcare professionals. Boehringer Ingelheim India managing director Sharad Tyagi shares insights on the “extraordinary surge” in the usage of digital platforms during these challenging times. The German multinational has been able to connect with over 30,000 HCPs across the country via digital channels.