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

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