Nrog biotech cov khoom lag luam tawm ze li ntawm 60% los ntawm lawv lub Ob Hlis 2021 ncov, thiab cov tuam txhab lag luam loj hlob nrog nyiaj ntsuab, vim li cas tsis muaj kev yuav khoom ntxiv rau xyoo no? Nws yog kev lag luam kev noj qab haus huv paradox.
Ib daim ntawv ceeb toom rau hnub Friday los ntawm Jefferies kws tshuaj ntsuam Michael Yee qhia txog qhov kev ntsuas biotech nyob deb npaum li cas tau poob, thiab nyiaj ntsuab npaum li cas cov khw muag tshuaj loj muaj nyob ntawm tes. Cov tuam txhab biopharma loj tshaj plaws tam sim no yuav luag muaj nyiaj txaus los yuav ntau dua lossis tsawg dua yuav txhua lub tuam txhab me me-rau-mid-cap biotech.
Yee suav tias kev lag luam ua lag luam ua ke ntawm tag nrho cov khoom lag luam biotech muaj nqis qis dua $ 5 billion yog nyob ib puag ncig $ 350 billion. Cov nyiaj tshuav ntawm sab saum toj 20 lub tuam txhab biopharma ua ke, lub sijhawm no, yog tshaj $ 300 billion.
"Peb tau mus txog qhov chaw uas Big Pharma muaj nyiaj ntau heev lawv tuaj yeem yuav lub ntiaj teb tag nrho smid-cap," Yee sau. "Peb nco ntsoov M&A yog qhov nyuaj thaum kev lag luam poob sai ... tab sis thaum kawg ob peb qhov kev cog lus tuaj yeem ua rau cov khoom rov qab."
Thaum kawg ntawm 2021, Barron tus kwv yees a yoj ntawm biotech M&A xyoo no uas yuav txhawb nqa sector. Hais txog "tons of qhuav hmoov" nyob rau hauv lub vaults ntawm
Pfizer
(ticker: PFE),
Novartis
(NVS), thiab lwm tus, peb tau sib cav tias nthwv dej ntawm M&A yuav "rov ua kom cov neeg lag luam txaus siab rau biotech."
Lub nthwv dej ntawd tseem tsis tau muaj ripple. Muaj qee qhov deals, kom paub tseeb tias:
GlaxoSmithKline
's
(GSK) $1.9 nphom kev ua si of
Sierra Oncology
(SRRA) lub hli tas los, thiab
Pfizer
's
deal, muaj nqis txog $ 525 lab, yuav ib lub tuam txhab ntiag tug hu ua ReViral.
Muaj cov cim qhia, ib yam nkaus, tias cov tuam txhab lag luam loj loj tau mus yos hav zoov, suav nrog Pfizer xaiv cov qub tub rog ntawm ib qho ntawm cov kev kho mob loj tshaj plaws hauv keeb kwm raws li nws cov CFO tshiab. Tseem, tsis tu ncua ntawm biotech acquisitions uas Barron tus thiab lwm yam kev cia siab tsis tau tshwm sim.
Nyob rau tib lub sijhawm, kev ntsuas biotech txuas ntxiv swb. Cov
SPDR S&P Biotech ETF
(XBI), uas taug qab cov biotech sector, poob 34% xyoo no, thiab 41.2% nyob rau 12 lub hlis dhau los.
Yog li yog tias biotechs pheej yig, thiab cov chaw muag tshuaj muaj nyiaj ntau, vim li cas ho tsis muaj leej twg ua deals?
Merck
(MRK) CFO Caroline Litchfield muab cov lus piav qhia tseem ceeb hauv kev xam phaj nrog Barron tus thaum lub Plaub Hlis lig: Cov thawj coj Biotech tseem tsis tau ntseeg qhov uas Mr. Market qhia lawv txog lawv cov tuam txhab muaj nqis npaum li cas.
"Peb tseem tsis tau pom tus neeg muag khoom hloov lawv lub siab xav txog qhov txiaj ntsig ntawm lawv lub tuam txhab yog dab tsi," Litchfield hais tias. “Kuv xav tias lub ntiaj teb nyob hauv kev cia siab puas yog? …Thiab yog tias koj zaum hauv biotech, koj tab tom tos kom nkag siab, puas yog qhov no ruaj khov, lossis yog ib ntus? Thiab qhov ntawd yog qhov kuv xav tias lawv nyob. "
Hauv nws daim ntawv hnub Friday, Yee tau sau tias yog tias thiab thaum twg cov tuam txhab biopharma loj pib yuav cov khoom siv me me thiab nruab nrab, nws yuav qhia tias "cov neeg muag khoom tau hloov kho lawv qhov kev cia siab thiab tau lees txais qhov kev ntsuas tshiab."
Dab tsi ntxiv, Yee sau, nws yuav qhia tau tias cov khw muag khoom tsis xav tias tus nqi yuav poob mus deb dua. Ua ke, qhov kev nkag siab ntawm kev ruaj ntseg tuaj yeem ua rau cov tub ua lag luam muaj kev lees paub tias lawv xav tau rov qab los rau hauv biotech, thiab khaws cia yuav.
Qhov ntawd tseem tsis tau tshwm sim. XBI poob 17.9% hauv lub Plaub Hlis. Txog tam sim no hauv lub Tsib Hlis, nws tau qis dua 3.2%.
Hauv email rau cov tub ua lag luam hnub Friday sawv ntxov,
Xaiv Tsa
Tus kws saib xyuas kev noj qab haus huv kev ncaj ncees Jared Holz tau hais txog qhov kev xav. Holz tau sau tias "Kev kho tus kheej ntau npaum li cas yuav tsum tau ua ntawm no txhawm rau txhim kho kev noj qab haus huv ntawm qhov chaw Biotech dav dua," Holz sau. “Thiab peb ntseeg tias qhov no yuav siv sijhawm. Lub hli. Tej zaum xyoo."
Sau ntawv rau Josh Nathan-Kazis ntawm [email tiv thaiv]