A list of puns related to "Dealmaking"
Merger and acquisition activity has been rather slow in the biopharma industry so far this year. But, by one team of analysts’ calculations, large drugmakers will have big piles of cash to deploy in 2022.
Eighteen large-cap U.S. and European biopharmas will have more than $500 billion in cash on hand by the end of 2022, SVB Leerink analyst Geoffrey Porges and his team wrote in a Wednesday note. The companies could use the money to strike deals, pay down debt or offer returns to shareholders through dividends or share buybacks, the analysts said.
Because the companies can leverage their assets to borrow additional capital, the theoretical firepower of the 18 drugmakers would be enormous at more than $1.7 trillion, the analysts wrote.
Out of 18 companies Porges's team looked at, 12 are expected to have more than $20 billion in cash by the end of 2022 when excluding existing debt. Even after factoring in debt, Porges expects Pfizer, Moderna, Johnson & Johnson, Novartis and BioNTech to have net cash of more than $20 billion.
Meanwhile, the team expects Regeneron, Vertex, Novo Nordisk and GlaxoSmithKline to have between $11 billion and $18 billion in cash on hand when including debt.
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That aren’t that one book attributed to a former president.
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