Biotech Share Sales in US Deliver Biggest Quarter Since 2021

US-listed biotechnology and pharmaceutical company share sales are staging a late-year revival, as mergers and acquisitions in the industry boost valuations and stoke additional demand.

With more than $4.2 billion raised last week alone, sales of new and existing stock in publicly traded drug developers have jumped to $13.7 billion in the fourth quarter. That’s already the biggest quarterly haul since the first three months of 2021, according to data compiled by Bloomberg. The surge came even though there haven’t been any deals above $1 billion in the sector so far this quarter.