How’s Business?

Mike Hennessy Jr., President and CEO, MJH Life Sciences

With Spring almost upon us, welcome to the March issue of Pharmaceutical Executive, which, in a way, delves into seasonal-type changes that have occurred for market sectors or are guiding new practices for various functions—and what may be next in approaching seasons.

Take, for example, the biotech sector, where we feature a few different perspectives on the state of affairs. Highlighting the coverage is the latest life sciences business pulse check from Peter Young, CEO of Young and Partners and a longtime Pharm Exec Editorial Advisory Board member. In his review of industry full-year 2023 stock performance and dealmaking and investment activity, Young, as usual, digs deep into the biotech side of things, where a cycle of volatility the last few years has been well-documented in these pages. Young also likes to examine the future outlook for pharma and biotech companies and the key implications for senior leaders of these organizations. As far as biotech, particularly those with promising and innovative assets in development, he notes that while the IPO market is still down and private equity funding remains difficult to tap, there are signs that investment activity is picking up. He points to the favorable climate for VCs in taking advantage of lower valuations, adding matter-of-factly that these groups “really cannot stop investing entirely.” For executives, the key, he says, will be centered on the quality and the maturity of their companies’ respective drug pipelines and cash needs.

Echoing similar sentiments is a contributed piece by Chris Smyth, president of ICON Biotech, who presents findings from a survey, conducted with Citeline, of 133 decision-makers within the biotech space, including drug developers and VC firms across North America, Europe, and Asia-Pacific. The goal was to identify the behaviors and strategies these companies, many of them startup or emerging, are employing to stay afloat amid the various multifaceted challenges they face in the current micro and macro climates.

Not to be outdone on this front as well are a pair of columns in March—one by our financial correspondent, Barbara Ryan, who outlines four distinct reasons why the recent rally in the sector may be the real deal; and the other exploring the evolving landscape in the biotech job market.

Thanks for reading.