Public Company Edition: The stock market has been unkind to biotech firms but investors rewarded some drug developers for clinical trial successes, including Scholar Rock and Day One, which raised $205m and $172.5m, respectively. However, some SPAC deals and an IPO never got off the ground.

Following a year marked by aggressive pricing pressures weighing down on revenues and margins – pressures that “intensified beyond historical norms and our recent expectations,” as one company put it – the first quarter of 2022 provided some green shoots of optimism, albeit for companies that have been able to shift resources to more complex assets.

Glenmark readies scale up in the respiratory segment, with Ryaltris set for a US debut and a filing for a generic rival to Flovent anticipated. Running a facility in that market, though, is not an easy task, says the firm's leadership.

Following a year marked by aggressive pricing pressures weighing down on revenues and margins – pressures that “intensified beyond historical norms and our recent expectations,” as one company put it – the first quarter of 2022 provided some green shoots of optimism, albeit for companies that have been able to shift resources to more complex assets.