Biotech Capital Market Environment Highlights - Earnings Season Wrapping Up with JNJ and Novartis Acquisitions

The S&P Select Biotech continues to hover above the 50-day moving average, albeit on low volume in the post earnings news vacuum.

M&A Moves:

• JNJ agreed to buy Proteologix for $850M

• Novartis met all tender offer considerations to acquire MorphoSys

Week Ending May 17th, 2024:

• Biotech: 4 Transactions (1 RM, 1 Follow-On, and 2 RDs) totaling just over $400 Million

• Med Tech: No Current Week Transactions

2024 YTD:

• 146 Biotech transactions totaling just under $24 Billion v. 2023 YTD: 61 Biotech transactions totaling just under $9 Billion

• 5 Med Tech transactions totaling just under $700 Million v. 2023 YTD: 6 Med Tech transactions totaling just over $400 Million

Private Transactions:

• Biotech: 103 US Transactions / 39 European Transactions

• Med Tech: 55 US Transactions / 24 European Transactions