Data Editor, Pharma
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Latest From John Hodgson
Generic drug producers endured very mixed fortunes on the world's stock markets, with firms ending November at opposite ends of Scrip's Stock Scan monthly league table.
Pharma stocks suffered in October, particularly in North America. Across the globe, stock prices among the biggest pharmaceutical companies were down an average of 2% on the month, despite general market revivals in Asia. The generics sector was particularly badly hit but there were several major setbacks for branded pharma companies, too.
Multi-billion dollar gaps exist between what investors think a company is worth one day and what they think the next. A Scrip analysis shows that these information gaps between big pharma and their shareholders are very common and are often bridged only by the mandatory quarterly reporting from companies. While unbalanced optimism or pessimism from investors might account for some of the chasm in understanding, an absence of interim guidance from companies is also a factor.
Not all initial public offerings are taken up, even in the best of funding years. Of the 54 life sciences IPOs registered in 1997, 11 (20%) were withdrawn because of pricing issues or lack of interest.
Life sciences investors pumped around $15 billion into 175 biotech, medtech and diagnostics firms that went public during the 2014–16 IPO window. To understand what may be in store for those firms and their backers, In Vivo reexamines the fate of a previous generation of companies, the IPO Class of 1997.
Stada is likely to approve a second takeover bid from equity groups Bain and Cinven soon, at a new price of €66.25 per share; an offer cleared by Germany's stock market authorities despite a ban in the country on repeat acquisition bids within 12 months.