Biopharma in 2018: Year of contrasts as stocks and M&A slump, but venture financing and IPOs remain strong Stock market performance was underwhelming at best –The Nasdaq Biotechnology Index grew 15% before suffering a painful Q4, resulting in a 9% year-end decline, while the S&P Pharmaceuticals Index only managed a 5% gain.
M&A and product licensing volumes were notably low, despite high-profile deals by Takeda and Bristol-Myers Squibb
The total value of medtech M&A deals came to $27.4bn, a 75% decline from 2017, while the 196 medtech VC deals completed was the fewest in more than a decade
