Forty Seven Inc.
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Latest From Forty Seven Inc.
A PwC analysis finds biopharma aggregate deal value declined 87% during the first half compared to the second half of 2018; deal volume dropped 17%. The pandemic was a cause, but not the only factor.
Sales were down in the second quarter to $5.07bn, primarily due to coronavirus-related impacts, but Gilead’s COVID-19 antiviral therapy remdesivir will boost revenues in the second half.
As it prepares to report second quarter earnings that may show coronavirus-related impacts, the company’s antiviral for COVID-19 may boost 2020 revenue and offset need for new products.
The big biotech will pay $300m to acquire a 49.9% equity interest in the cancer immunotherapy startup with a buyout option. It is one of several immune checkpoints Gilead has secured access to this year.
- Large Molecule