Public Company Edition: Summit initiated the big rights offering earlier this year as promised in December when it licensed Akeso’s PD-1/VEGF bispecific. Also, Teva sold $2.49bn in sustainability-linked notes to pay down debt, while MorphoSys, Novavax and others restructured and cut jobs.

India had a busy deals calendar in 2022, with companies led by Biocon striking large M&A deals while PE activity declined. In Vivo's sister publication Scrip pieced together data for infographics on these deals. A multitude of factors is expected to keep the momentum going in 2023.

Cipla believes it is “pretty close” to approval for its Advair generic in the US, while another product, generic Abraxane, stands delayed currently. Following the deal with Ethris, which is progressing inhaled mRNA-based therapies, the company signals interest in platforms such as CAR-T as well.

Novel agents targeting similar indications suggest potential commercial struggles across the therapeutic landscape, with battlegrounds taking shape between RSV vaccines, new mechanisms in major depression, and bispecifics for large B-cell lymphoma.