Dispatches from CGT International: Big pharma M&A is the new biotech IPO
Why now
Thesis: Pharma M&A replaces IPO as biotech exit route
Catalyst to watch: Announced pharma acquisitions of biotech firms
Main risk: Deal flow could slow if rates stay high
Why it matters
Big pharma M&A provides exit liquidity for biotech, supporting valuations across the sector.
Sources
- googlenews · news.google.com · 2026-09-25 09:59 UTC
- googlenews · news.google.com · 2026-09-25 09:59 UTC