Market rebound on hold, but pharmas open for business, says J.P. Morgan’s Gaito

The banking crisis has put more pressure on equities at a time when investors were already in a risk-off mentality, J.P. Morgan’s Mike Gaito told BioCentury. But while volatility in the wake of Silicon Valley Bank’s struggles may have the capital markets for biotech in a holding pattern, Gaito sees the environment for partnering and M&A as ripe with opportunity.  

Pharmas are open for deal-making, as evidenced by the business development and partnering meetings at this year’s J.P. Morgan Healthcare Conference, said Gaito, who is J.P. Morgan’s global head of healthcare investment banking. ...