Stock Watch: Why Have Biotech Acquisitions Paused?
Pharma’s Appetite For Biotech Acquisitions Has Declined In 2021
The subdued number of acquisitions of biotech by big pharma has more than one cause. The structural improvement of the process of drug discovery and development at big pharma is the main one.
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The German biotech had already hinted at possibly expanding through M&A, and Constellation was viewed as an attractive acquisition target.
Pfizer’s earnings were skewed by its coronavirus vaccine for the second quarter running while GSK’s vaccine sales were helped by the catch-up on pediatric immunization schedules. Sales of influenza vaccines may come to the fore in the second half.
Oncology diagnoses and therefore revenues are returning as we emerge from the pandemic, but the recovery also brings the challenges of reduced diagnostic and eventually vaccine revenues.