Vault Bioventures’ Post

Giovanni Caforio, formerly CEO of Bristol Myers Squibb, is set to become the next board chairman of Novartis, replacing Jörg Reinhardt upon his retirement in 2025. Known for his robust leadership during significant acquisitions at Bristol Myers—including the $74 billion purchase of Celgene—Caforio brings a wealth of strategic leadership skills and experience to Novartis. His appointment, announced alongside Novartis’ first-quarter earnings which exceeded Wall Street forecasts, is seen as pivotal for driving innovation and growth at Novartis. The company has been focusing on high-margin prescription pharmaceuticals and streamlining operations, a strategy that Caforio is well-equipped to advance given his track record in managing growth and navigating complex regulatory environments. Reinhardt, who has been instrumental in major transformations at Novartis since 2013, including strategic divestitures and focusing the company's core on lucrative areas, leaves a legacy of significant change. Caforio’s leadership is anticipated to maintain this momentum, tackling future challenges and seizing opportunities in the competitive pharmaceutical market. #Pharmaceuticals #LeadershipChange #StrategicGrowth #Novartis #Innovation #HealthcareIndustry #ExecutiveLeadership #PharmaNews

Sweden: Pharma M&A - Impilo have sold a stake in Immedica Pharma AB to KKR for an undisclosed amount and is reinvesting as an equal shareholder. Founded in 2018, Immedica has a portfolio and pipeline of drugs primarily within haematology and oncology as well as genetic and metabolic diseases for rare conditions with high unmet medical need. 2023 pro forma sales were $94m with annual growth of more than 50%, and adjusted EBITDA of $35m. KKR is investing through its KKR Health Care Strategic Growth Fund II, a US$4bn fund focused on investing in high-growth health care companies. Morgan Stanley were financial and Latham & Watkins and Mannheimer Swartling legal advisors to Impilo and Bank of America were financial and Gibson Dunn , Setterwalls Advokatbyrå and Cooley LLP legal advisors to KKR. Jamieson Corporate Finance advised the management team. READ Immedica's Annual Business Review here https://lnkd.in/eiucDHUa #healthcare #pharma #lifesciences #privateequity anders edvell Magnus Edlund Wim De Vlieger Kugan Sathiyanandarajah Linda Holmström Robbie McLaren Eveline Van Keymeulen Ian Jamieson

Giovanni Caforio, 𝐭𝐡𝐞 𝐟𝐮𝐭𝐮𝐫𝐞 𝐩𝐫𝐞𝐬𝐢𝐝𝐞𝐧𝐭 𝐨𝐟 Novartis Giovanni Caforio, the future president of Novartis, is set to take the helm of the board at the Basel-based pharmaceutical giant next year. His nomination, although a significant move for Novartis, has not generated much attention, likely due to his relatively low profile within the pharmaceutical industry. Novartis has subtly communicated the transition, revealing in April, alongside their Q1 business figures, that Caforio would replace long-standing President Jörg Reinhardt. Caforio, an Italian-American dual citizen, has a robust track record as the former head of Bristol-Myers Squibb (BMS), where he led the transformation of the company into a global pharmaceutical leader, renowned for its strong research and development and marketing capabilities. Originally from Rome, Caforio completed his medical studies there before embarking on a pharmaceutical career. His first twelve years in the industry were spent at Abbott Laboratories, after which he joined BMS in 2000, eventually becoming CEO in 2015. Known for his loyalty to the companies he serves, Caforio has been praised for nearly tripling BMS's turnover to $45 billion during his tenure, largely due to the strategic acquisition of Celgene in 2019. Despite his successful corporate career, Caforio remains a relatively unfamiliar face in European pharmaceutical circles. His move to Novartis marks a significant shift, taking over from Reinhardt, who has been able to leverage his German language skills and local ties to enhance Novartis’s image in the Basel region. Caforio’s leadership transition comes at a time when BMS faces challenges, with revenues declining over the past two years due to expiring patents and a lack of new products. His successor at BMS, Chris Boerner, has initiated a major cost-cutting program to address these issues. Fluent in Italian, English, French, Spanish, and Portuguese, Caforio brings a wealth of international experience to Novartis. However, unlike Reinhardt, he does not speak German, which may pose challenges in local engagements. Market observers are keen to see how Caforio will adapt to his new role as the non-executive chairman of Novartis, focusing on strategic oversight rather than day-to-day operations. Financial analysts are particularly interested in the dynamics between Caforio and Novartis’s current CEO, Vas Narasimhan, given the latter's sensitivity to criticism. The industry is watching closely to see how this partnership will navigate the company’s future challenges, especially as Novartis prepares for potential downturns due to patent expirations on key medications. Source: NZZ, 11.7.24 #biopharma #insights #Novartis #BMS

AstraZeneca PLC (LSE:AZN) is poised to maintain its full-year financial guidance without adjustments when it announces its first-quarter results later this month (April 25), according to insights from Shore Capital, which expects any significant updates to be unveiled at the drugs giant's capital markets day on May 21. The company's cancer drugs, Imfinzi and Imjudo, are expected to show a robust performance, despite mandatory price cuts in Japan affecting the former. Sticking with oncology, AZ's Tagrisso has seen positive developments with new US Food & Drug Administration approvals and inclusion in national reimbursement lists, addressing concerns about its market competition. Shore also highlighted advances in its rare disease portfolio, including FDA nods for Ultomiris and Voydeya, enhancing its treatment offerings for NMOSD and PNH respectively. On the mergers and acquisitions front, AZ is expected to... More at #Proactive #ProactiveInvestors http://ow.ly/eFC9105pvWy

Dear Hindenburg Research (short sellers) & University of Pennsylvania (Pension) - which I hope is taxed to fund Pre-K near the Philadelphia 76ers and also investments in PhiladelphiaSolar. Check these: #1 Sell GSK #2 Sell SAN #3 Hold AZN (AstraZeneca) #3 Hold PFE (Pfizer) #4 Buy Regeneron (REGN) GSK has one of the worst pipelines & non-inspiring cultures in pharma. They gave away their oncology pipeline to Novartis in 2015, then did a reversal a few years later & tried to rebuild it by buying inferior oncology brands. Their lead multiple myeloma asset Blenrep was pulled by the FDA, is far inferior to BCMA competitors already approved on the market, and they continue to try and have it promoted for American patients. It causes ocular toxicities and shows no benefit over Pomalyst which will be going off patent soon. There are other examples of how inferior their oncology portfolio is. Sanofi (SAN), based in France, has also struggled in multiple myeloma. Darzalex is far superior to their drug Sarclisa - Sarclisa is important, but it will be tough to win any frontline market share against Johnson & Johnson Innovative Medicine's CD38. Sanofi was relying on Regeneron's pipeline to fuel their future for years but that deal fell through. If you look at their most recent earnings presentation, Sanofi points to an 'increasing news flow'. But their near-term approvals look lackluster. They will struggle without expensive BD acquisitions. https://lnkd.in/eQnumKsV It is difficult for GSK to attract talent because they are competing against companies like AstraZeneca, Bristol Myers Squibb, and Incyte. All have superior cultures. All offer better commutes for its employees. GSK overpaid to buy TESARO, Inc. for Zejula, which is a PARP inhibitor and has a lot of competition. They will point to their vaccine portfolio but we know that, long-term, they will have to purchase Moderna or something similar to compete. They can not afford to do this. GSK faces stiff competition from better BD teams at other pharmaceutical companies. Sell GSK & SAN. I do not recommend AstraZeneca over its American competitors but it is the better UK pharma company to own long (HOLD AZN, SELL GSK). AZN fought off an acquisition by Pfizer, is much more important to the UK's national economy, but is at a long-term disadvantage due to Brexit. Brexit Plan was a death knell for UK companies - particularly in life sciences. The best scientists & doctors can not afford to live in London. They are leaving for the USA. This caused a brain drain from London & UK to other countries. Regeneron (REGN) is led by brilliant scientists, has appropriately sized pharmaceutical sales forces (AKA HCP Educators), does not need to rely on costly BD deals because of its culture & resides in Tarrytown more affordable than New York, New York City (but not Boston.com). 🍏 🌲 💚

😎 Hello, #biopharma #hubspots and those interested in #mergersandacquisitions! Here's some #news you can use according to BioSpace: Today’s #financial landscape and #market conditions are creating a #buyers’ market in #biopharma. These transactions reflect an appetite to fill #product #development #pipelines and increase #revenues, particularly in #obesity, #oncology, and #immunology. 💸 Last week, the sale of listed contract drugmaker Catalent Pharma Solutions to Novo Nordisk follows Johnson & Johnson’s agreement to acquire Ambrx Biopharma for $2B, Gilead Sciences’ $4.3B acquisition of CymaBay Therapeutics, Bristol Myers Squibb’ $4B acquisition of RayzeBio, and Pfizer’s $43B acquisition of Seagen. Since #valuations have diminished for many companies with little cash but good assets, #bigpharma buyers and certain mid-size regional players are in an excellent position to #negotiate the best deals. Smaller companies developing differentiated #products generating strong #revenue and showing #growthopportunity are highly attractive to large #lifescience companies. A higher price is worth not bringing a potential product from #concept to #clinic. Late-stage products attract #buyers because the #developers absorb much of the #regulatory and #clinical risk.

From GLP-1-driven market upheavals to strategic acquisitions and partnerships, the last decade in biopharma has seen dramatic shifts, with industry-wide growth and fascinating contrasts among top players. #Biopharma #MarketTrends #Innovation

The largest biopharma companies have a market cap of ~$4 trillion. Here's a look behind the biggest swings over the last 10 years: The biggest and clearest gain is how GLP-1s have powered Lilly and Novo to market values magnitudes above everyone else. But this isn't just a story of GLP-1s carrying the team: The remaining 17 analyzed were able to grow market values from $2.1 trillion in 2019 to $2.7 trillion in 2024, showing there was good growth industry-wide. There are also several interesting sub-plots within the bigger picture: The contrast between Japan's two largest biopharma companies, Daiichi-Sankyo and Takeda, is particularly interesting. 10 years ago, Takeda had a market cap almost 3x higher than Daiichi Sankyo, which today has the larger market cap. Daiichi grew its value primarily through organic growth, particularly around oncology and ADCs, while Takeda's most notable move was its $62B acquisition of Shire in 2019. Daiichi has been particularly successful leveraging partnerships: Its 2019 deal with AstraZeneca for what became Enhertu got it $1.35B upfront, and a subsequent 2020 deal with AstraZeneca got it another $1B in guaranteed payments. Most recently, Daiichi signed a monster deal with Merck that included $4 billion in upfront and near term guaranteed payments for 3 ADCs. The rise of Regeneron and Vertex into the top tier of biopharmas is also notable. Both are now at key inflection points working to diversify their pipelines, with Vertex getting closer to launching its first medicines outside CF. Looking back, it's clear there is a lot of shifting up and down the list, which proves the old adage "the only constant is change", and shows the only way to remain on top is through consistent, impactful innovation.

The largest biopharma companies have a market cap of ~$4 trillion. Here's a look behind the biggest swings over the last 10 years: The biggest and clearest gain is how GLP-1s have powered Lilly and Novo to market values magnitudes above everyone else. But this isn't just a story of GLP-1s carrying the team: The remaining 17 analyzed were able to grow market values from $2.1 trillion in 2019 to $2.7 trillion in 2024, showing there was good growth industry-wide. There are also several interesting sub-plots within the bigger picture: The contrast between Japan's two largest biopharma companies, Daiichi-Sankyo and Takeda, is particularly interesting. 10 years ago, Takeda had a market cap almost 3x higher than Daiichi Sankyo, which today has the larger market cap. Daiichi grew its value primarily through organic growth, particularly around oncology and ADCs, while Takeda's most notable move was its $62B acquisition of Shire in 2019. Daiichi has been particularly successful leveraging partnerships: Its 2019 deal with AstraZeneca for what became Enhertu got it $1.35B upfront, and a subsequent 2020 deal with AstraZeneca got it another $1B in guaranteed payments. Most recently, Daiichi signed a monster deal with Merck that included $4 billion in upfront and near term guaranteed payments for 3 ADCs. The rise of Regeneron and Vertex into the top tier of biopharmas is also notable. Both are now at key inflection points working to diversify their pipelines, with Vertex getting closer to launching its first medicines outside CF. Looking back, it's clear there is a lot of shifting up and down the list, which proves the old adage "the only constant is change", and shows the only way to remain on top is through consistent, impactful innovation.

The largest biopharma companies have a market cap of ~$4 trillion. Here's a look behind the biggest swings over the last 10 years: The biggest and clearest gain is how GLP-1s have powered Lilly and Novo to market values magnitudes above everyone else. But this isn't just a story of GLP-1s carrying the team: The remaining 17 analyzed were able to grow market values from $2.1 trillion in 2019 to $2.7 trillion in 2024, showing there was good growth industry-wide. There are also several interesting sub-plots within the bigger picture: The contrast between Japan's two largest biopharma companies, Daiichi-Sankyo and Takeda, is particularly interesting. 10 years ago, Takeda had a market cap almost 3x higher than Daiichi Sankyo, which today has the larger market cap. Daiichi grew its value primarily through organic growth, particularly around oncology and ADCs, while Takeda's most notable move was its $62B acquisition of Shire in 2019. Daiichi has been particularly successful leveraging partnerships: Its 2019 deal with AstraZeneca for what became Enhertu got it $1.35B upfront, and a subsequent 2020 deal with AstraZeneca got it another $1B in guaranteed payments. Most recently, Daiichi signed a monster deal with Merck that included $4 billion in upfront and near term guaranteed payments for 3 ADCs. The rise of Regeneron and Vertex into the top tier of biopharmas is also notable. Both are now at key inflection points working to diversify their pipelines, with Vertex getting closer to launching its first medicines outside CF. Looking back, it's clear there is a lot of shifting up and down the list, which proves the old adage "the only constant is change", and shows the only way to remain on top is through consistent, impactful innovation.