2017 begins with three Novartis executives finding new roles and high-level appointments made by Shire, Bicycle Therapeutics, Gilead Science and Amplyx Pharmaceuticals.

Dr. Mike Burgess, the head of several disease R&D areas at Bristol-Myers Squibb, talks to Scrip on the side lines of the recent One Nucleus Genesis conference in London, UK, about the importance of a diverse portfolio, balancing R&D budgets and his industry-wide predictions for 2017.

Fewer companies went public in 2015 than during the peak year of 2014, but on average 2015’s US IPO crop raised more money and at better valuations. And thanks to a jump in private biotech acquisition volume and valuations, investors enjoyed a tremendous year for biotech exits.

Biopharma financing for Q4 totaled $13.1 billion, a 35% increase over Q3, and again was dominated by follow-on public offerings. M&A reached a record $201 billion, topped by Pfizer's $160 billion buy of Allergan. Sanofi's $4.2 billion diabetes collaboration with Hanmi led the alliances.