A Good Start for Biotech in 2020

A Good Start for Biotech in 2020

Early in January 2019, Bristol-Myers Squibb’s (NYSE: BMY) $74 billion acquisition of Celgene Corporation dominated the headlines. But despite that big deal, 2019 was a rather lackluster year for the Biotechnology sector. However, the opening quarter of 2020 is showing some promise. This year’s J.P. Morgan Healthcare Conference came and went without any major announcements, but the Biotech sector is seeing a steady start, with a modest $930 million in spending with 11 announced transactions. A bulk of that dollar volume came from Incyte Corporation’s (NASDAQ: INCY) deal with MorphoSys AG (NASDAQ: MOR) for tafasitamab. The collaboration and license agreement aim to further... Read More »