Big Pharma regained ‘mojo’ last year, but biotech valuations remain ‘precarious’: report

Despite a “year of deep declines” in share prices, it was a recovery among big cap companies in the final quarter that saved biopharma from “disaster” in 2022, Evaluate said. This $567 billion surge in combined market cap for the 11 biggest pharmas recovered almost six months’ worth of losses, the authors noted. Leading the big cap cavalry charge was Novo Nordisk, followed by Moderna, Gilead and BeiGene.

“It is too early to call this a recovery, but hopes that a floor has been hit might not be misplaced,” the authors wrote.