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STAT+: ‘Takeover Tuesday’ saves biotech’s quarter
This is the online version of Adam’s Biotech Scorecard, a subscriber-only newsletter. STAT+ subscribers can sign up here to get it delivered to their inbox.
In the nick of time
Biotech’s most-watched stock index, the XBI, was heading for a first-quarter loss until Tuesday, when Eli Lilly said it was buying Centessa Pharma, and Biogen announced a takeover of Apellis Pharma. Investors love M&A. Those deals plus an easing of Iran war concerns contributed to a huge 7% surge in the XBI on the last day of the quarter.
How are you feeling about biotech as we enter the second quarter? Are you worried about China? AI? Gas prices? The year-over-year pace of M&A activity is up, but FDA drug approvals are down.
This is the online version of Adam’s Biotech Scorecard, a subscriber-only newsletter. STAT+ subscribers can sign up here to get it delivered to their inbox.
In the nick of time
Biotech’s most-watched stock index, the XBI, was heading for a first-quarter loss until Tuesday, when Eli Lilly said it was buying Centessa Pharma, and Biogen announced a takeover of Apellis Pharma. Investors love M&A. Those deals plus an easing of Iran war concerns contributed to a huge 7% surge in the XBI on the last day of the quarter.
How are you feeling about biotech as we enter the second quarter? Are you worried about China? AI? Gas prices? The year-over-year pace of M&A activity is up, but FDA drug approvals are down.