Jefferies says biotech may see more M&A deals in 2024

Crispr Therapeutics AG

27/11/2023 12:55

** Brokerage Jefferies says the biotech sector should see
more M&A deals in 2024 as "valuations have come way down" in the
last two years
    ** Big pharma companies paying close attention to biotech
launches
    ** Biogen  BIIB.O  and Eli Lilly's  LLY.N  Alzheimer's drugs
and Madrigal Pharmaceuticals'  MDGL.O  oral medicine for a type
of fatty liver disease are among the key biotech products to
watch out for next year - brokerage
    ** Gene therapies by BioMarin Pharmaceutical's  BMRN.O  for
hemophilia A, and Vertex Pharmaceuticals  VRTX.O  and CRISPR
Therapeutics'  CRSP.BN  for sickle cell disease are also among
the products to look out for in 2024 - Jefferies
    ** Karuna Therapeutics'  KRTX.O  experimental schizophrenia
treatment KarXT also being watched - Jefferies
    ** Up to last close, while BIIB, KRTX, MDGL and BMRN fell
3-33% YTD, LLY shares surged 64% boosted by positive investor
sentiment around its new weight-loss drug Zepbound

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; https://twitter.com/LeroyLeo7;))