Restructuring Edition: After reporting record revenue, but lower profits due to rising costs, Ferring has decided to consolidate R&D in Europe. Also, Codiak has filed for Chapter 11 bankruptcy and will sell off its assets, while Exicure, Applied Molecular Transport, Gamida Cell and others revealed new job cuts.

The US firm’s lead program has flunked a mid-stage trial in early Parkinson’s disease and, despite a promising efficacy signal in a younger patient cohort, its future remains uncertain.

Abbott Laboratories moved above Medtronic in MAT medtech revenues, while Philips Healthcare and Stryker finished 2022 with strong quarters, and Roche dropped a few places.

During Q4, biopharma merger and acquisition value reached $35.7bn and drew in $62.1bn in potential deal value from alliances. Device company M&A values reached $19.2bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $4.8bn.