Health
Ozempic Mania Fuels Deal Optimism Across Drug Industry
- Drumbeat of deals that picked up in December continues
- Biotech valuations are ‘more realistic,’ Roche executive says
Ozempic and Wegovy injection pen parts at the Novo Nordisk production facilities in Hillerod, Denmark.
Photographer: Carsten Snejbjerg/BloombergThis article is for subscribers only.
The world’s biggest drugmakers are racing to buy up biotech companies to fill looming holes in their pipelines and pounce on new discoveries, bringing a hopeful buzz back to JPMorgan Chase & Co.’s big health-care conference in San Francisco.
“Opening new markets like obesity is adding optimism,” said Victor Bulto, president of the US unit for Novartis AG on the sidelines of the JPMorgan Healthcare Conference, which draws the heads of the world’s biggest drug companies who use the annual confab to broker multibillion-dollar deals.