Executive changes at both Viatris and Teva in 2023 saw the companies shift their focus towards the innovator industry. Plus, trade groups saw some significant personnel shakeups, Alvotech expressed hope that new hires would help to resolve manufacturing approval issues, Biocon made changes to its management structure, and more.

In 2024, Viatris will initiate the second phase of its long-term business plan, which will see it step away from the perceived volatility of the generics space and begin to move toward innovative and high-growth products. The past year has seen it lay the groundwork for this pivot, shedding surplus business units and making significant hires from the branded space.

Public Company Edition: Also, Roivant and two other biopharma firms close SPAC mergers and begin trading on the Nasdaq, Spero negotiated a royalty financing worth up to $125m and Phathom secured a $200m term loan. 

Public Company Edition: Eight drug developers launched initial public offerings in the US that grossed $1.46bn combined during the week of 14 to 18 June as biotechnology stock values increased. Also, C4 Therapeutics led recent follow-on offerings, raising $180.8m.