Jump to the top of the page

Investment Banking

The Quarterly Rx: 2022 Year in Review U.S. Biopharma Recap

After an undoubtedly challenging year for the biopharma sector in which macroeconomic risk weighed on investor sentiment, we began to see signs of stability to close out 2022 – prompting increased optimism for a recovery in 2023. William Blair's Biopharma team shares perspectives in The Quarterly Rx: 2022 Year in Review U.S. Biopharma Recap.

William Blair’s 2023 Predictions

  1. Volatility is here to stay, but “hard landing” is unlikely
  2. Biopharma sector will outperform the broader market
  3. Steady cadence of private financings, but “crossover” activity will remain muted
  4. IPOs will return, but insider support will remain critical
  5. Follow-on activity will continue to increase
  6. M&A activity in-line with 2022, but overall partnering to increase

Complete the form below to download your copy of the report.

Delivered to Your Inbox

Stay up-to-date with the latest William Blair news and insights

Subscribe to News Alerts

More News and Insights

  • The Right Platform for This Moment

    Amid the evolving economic landscape of the past few years and continued shifts in 2025, we at William Blair have worked hard to expand our platform and provide creative solutions.

    Watch the video

  • Cash is Still King, Especially During the Great Iberian Blackout (El Apagón)

    The complete power outage across the Iberian Peninsula last week was a wake-up call. William Blair’s Richard de Chazal outlines five lessons to take away from the event.

    Read more

  • Roper Technologies, Inc.: Initiation of Research Coverage

    William Blair initiated research coverage of Roper Technologies, Inc. (ROP $557.59), a leading operator and acquirer of high-quality vertical software assets across multiple industries.

    Read more
See more insights

Are you sure you want to leave?

Information contained on the internet is not subject to William Blair & Company's control or review, and may not be accurate.

For disclosure information, please visit www.williamblair.com/disclosures