Evaluate Vantage 2020 Review: Investors Drive Biopharma to New Heights
Despite the initial shock of the COVID-19 pandemic, 2020 was a standout year for biopharma. The top 600 biopharma companies added $487bn in market capitalization, and smaller biotechs saw a record-breaking $12.8bn raised by IPO and $20bn invested by venture financers.
Fortunes in the medical device industry were more divided. Companies developing diagnostics and treatments benefitted from the continued focus on COVID-19, but other segments suffered from decreased demand, and this trend could continue into 2021.
Report Highlights — Pharma & Biotech:
- Novovax (2,702%) and Shin Poong (1,613%) saw the greatest market cap increases by percent growth.
- AbbVie added $58.2bn in market cap, the largest increase by value, although Eli Lilly saw a greater increase by percentage (28%).
- GlaxoSmithKline saw the greatest share price loss among big pharma (-25%), followed by Merck & Co (-12%) and Bristol Myers Squibb (-10%).
- The total value of M&A transactions was $130bn, with deals announced by Astrazeneca, Gilead and Bristol Myers Squibb compensating for a slow start.
- The FDA approved 57 novel medicines, a modest increase from 2019, with a total of $21.6 billion in fifth-year sales potential.
Report Highlights — Medtech:
- The average size of medtech venture financing rounds reached a ten-year high at $37.4 million, a 50% increase from 2019.
- Medtech M&A continued to decline, with 111 transactions totaling $27.3 billion closed, the lowest value since 2013.
- The FDA approved 22 PMAs and 37 501(k) clearances, consistent with 2019 totals.
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