Pfizer will be active in business development, management said, but with a focus on building out the pipeline with bolt-on deals in the range of a "few billion." Gene therapy remains one area of interest.

This week's roundup includes a handful of promotions by Eli Lilly, and various board and high-level appointments by companies including Kiadis Pharma, Aeterna Zentaris, Dermavant Sciences and Pliant Therapeutics.

Oxford, UK-based Immunocore, which is developing immunotherapies against cancer, has secured $40m in funding from the Bill & Melinda Gates Foundation to boost its research activities in infectious diseases. The company hopes to develop novel therapeutics to reduce treatment timelines and improve outcomes for patients with HIV and TB.

Sienna Biopharmaceuticals went from Series A to IPO in 15 months, selling investors on its executive team experienced in the development and commercialization of dermatology and aesthetic products.