The S&P Select Biotech continues to hover above the 50-day moving average, albeit on low volume in the post earnings news vacuum.
M&A Moves:
JNJ agreed to buy Proteologix for $850M
Novartis met all tender offer considerations to acquire MorphoSys
Week Ending May 17th, 2024:
Biotech: 4 Transactions (1 RM, 1 Follow-On, and 2 RDs) totaling just over $400 Million
Med Tech: No Current Week Transactions
2024 YTD:
146 Biotech transactions totaling just under $24 Billion v. 2023 YTD: 61 Biotech transactions totaling just under $9 Billion
5 Med Tech transactions totaling just under $700 Million v. 2023 YTD: 6 Med Tech transactions totaling just over $400 Million
Private Transactions:
Biotech: 103 US Transactions / 39 European Transactions
Med Tech: 55 US Transactions / 24 European Transactions
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