Politics, Policy & Law
Treating Trump & BMS’s $13B MyoKardia buy: a BioCentury podcast
Editors also discuss key takeaways from drug pricing hearings, preview 4Q20
In the latest BioCentury This Week podcast, BioCentury’s editors discuss access to Regeneron’s experimental COVID-19 therapy, fallout from last week’s House drug pricing hearings, Bristol Myers’ heart pumping $13 billion takeout of MyoKardia and the outlook for the biotech fund-raising environment in 4Q20.
Washington Editor Steve Usdin and Editor in Chief Simone Fishburn dig into how the president’s treatment with an investigational drug from Regeneron Pharmaceuticals Inc. (NASDAQ:REGN)
resurfaces long-standing ethical quandaries involving compassionate use and the allocation of scarce drugs.
They also review last week’s drug pricing hearings in the House of Representatives, where leaders of some of the world’s leading biopharma companies were soundly defeated by congressional Democrats.
Associate Editor Stephen Hansen discusses the $13.1 billion takeout of MyoKardia Inc. (NASDAQ:MYOK) by Bristol Myers Squibb Co. (NYSE:BMY). He says the deal will add another non-cancer therapy to a portfolio that less than two years ago became even more heavily reliant on cancer products with BMS’s acquisition of Celgene Corp. for $74 billion.
Hansen also weighs in on the outlook for financing public companies this quarter after speaking to eight buysiders for BioCentury’s 4Q20 Financial Markets Preview. He says that the increasing likelihood of a contested U.S. presidential election means buysiders could start investing in companies that are either low risk heading into year-end or have seen their valuations dip. Hansen also says that even if the IPO market, which has been on a tear this year, comes to a grinding halt, 2020 has already more than doubled the aggregated capital raised versus full year 2000, the high-water mark just before the dot.com bubble burst.