Welcome to the era of 'mega biotechs'

May 5, 2021

Hello,

Welcome to Insider Healthcare. I’m Shelby Livingston, and I cover how healthcare is paid for and delivered in the US for the Insider healthcare team. Today in healthcare news:

The era of “mega biotechs” has arrived, and these startups are drawing high valuations that they could fail to live up to;
Pfizer outlined a busy 2021 for its coronavirus shot, which the company projects will bring in $26 billion in revenue this year;
Experts believe the US is getting closer to achieving herd immunity against COVID-19, but that threshold’s a moving target.

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A new wave of drug startups with big portfolios and precarious valuations has burst onto the scene. Welcome to the era of ‘mega biotechs.’

At least 6 biotech startups launched in the past year after creating or acquiring smaller ventures.
These “mega biotechs” are fueled by record amounts of VC flowing into the drug industry.
Insiders say they are “priced for perfection” and could fail to live up to their early valuations.

One slide lays out Pfizer’s busy 2021 plans for its COVID-19 vaccine, including when it could start being used in kids

Pfizer outlined Tuesday a busy 2021 for its COVID-19 vaccine.
The drugmaker expects to apply for full US approval in May.
Additional studies are testing a temperature-stable version and giving it to younger children.

Read the full story>>

Herd immunity in the US could be around the corner — but maintaining it is likely to be a perpetual battle

The US could reach herd immunity for COVID-19 in weeks or months, but the metric is a moving target.
Vaccines bring the US closer to that goal. More-contagious variants make it harder to reach.
Maintaining herd immunity could require annual booster shots.

Find out more>>

More stories we’re reading today:

A biotech VC accuses his Proskauer lawyers of bungling a hedge fund deal, costing him ‘hundreds of millions’ (Insider)
Denmark bans Johnson & Johnson’s coronavirus vaccine, citing the risk of rare blood clots (Insider)
A Crisis of Undiagnosed Cancers Is Emerging in the Pandemic’s Second Year (ProPublica)
Pennsylvania is keeping its mask mandate until 70% of adults are vaccinated, governor says (Insider)
A doctor trained nurse practitioners to do colonoscopies. Critics say his research exploited Black patients (STAT)

– Shelby

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