Abstract
In This Issue...
Marking renewed confidence in the biotechnology sector, in 2004 the
biotechnology industry experienced an upswing in initial public offerings
(IPOs), private equity financings, and pharmaceutical corporate partnerships
for lead compounds. Despite this reinvigorated activity, pharmaceutical
companies and investors are proceeding in a battle-tempered mode of cautious
optimism. The deals and alliances of 2004 highlight growing trends that will
impact both the pharmaceutical and biotechnology industries in the near
future. In this report, we discuss major trends in biotechnology financing and
dealmaking in 2004 and describe selected corporate deals and alliances among
biotechnology and pharmaceutical companies. In addition, we examine the
dynamics of the relationship between these industries, and discuss how biotech
companies can successfully adapt to these dynamics.
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