NEW YORK: A rash of dealmaking helped reverse the declining fortunes of biotech stocks over the last five months. And as AstraZeneca Plc’s US$1bil deal to acquire closely-held Amolyt Pharma illustrates, the likelihood is there’s much more to come.
A total of 46 listed biotech transactions worth more than US$100bil were announced across the industry last year, the highest since spending peaked in 2019, according to data compiled by Bloomberg.
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