EY: Post-boom biotech still has plenty of upbeat trends to boast about
If you just compare the top-line biotech numbers for 2016 to 2015, you’d have good reason to despair. New drug approvals by the FDA plunged, net income for public biotechs cratered and total capital raised slid a stomach churning 45%, according to the figures gathered by EY. Biotech financing overall dropped in 2016, for the first time since 2012.
So why are the analysts at EY — led by team leader Glen Giovannetti — so happy about last year’s performance?
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