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BIO-Europe is happening this week in Munich, where BIO’s talking about the role of M&A in biotech innovation and investment. Plus, a new UN report details the health and climate costs of agrifood systems—but biotech already offers solutions. (580 words, 2 minutes, 54 seconds) |
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BIO-Europe: M&A a bright spot in biotech investment |
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BIO-Europe kicked off yesterday in Munich with a look at how M&A is driving investment and innovation.
The event:BIO-Europe, running through Wednesday, is sponsored by BIO and EBD Group. It’s Europe’s premier biotech partnering event, attracting over 5,000 for tens of thousands of face-to-face dealmaking meetings.
Why it matters: The kind of M&A activity enabled by BIO-Europe (and other BIO events) is an important driver of biotech investment and innovation, especially as the contributions from public offerings and venture capital slows, BIO SVP of Industry Research, David Thomas, said during the opening session.
Best year ever? The total dollar value of biotech acquisitions in 2023 is on track to set a record, said Thomas.
Regulatory headwinds: Despite the importance of acquisitions, regulators who mistakenly assume all M&A hurts competition have been engaging in unneeded “overreach” by seeking to slow acquisitions, he explained.
What BIO’s doing: BIO pushed back against the Federal Trade Commission (FTC)’s attempt to block the Amgen-Horizon Therapeutics merger. Shortly after BIO filed an amicus brief, the FTC dropped its suit. BIO continues to ask the FTC to allow M&A activities to continue. How to follow BIO-Europe: Keep an eye on Bio.News as we bring you more coverage from Munich.
More Health News: IFPMA announces leadership change in 2024
“David Reddy, CEO of Medicines for Malaria Ventures (MMV), will succeed Thomas Cueni as IFPMA Director General as from April 2024. His appointment has been endorsed by the leaders of the biopharmaceutical industry, including the Biopharmaceutical CEO Roundtable (BCR) and the IFPMA Council.” |
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How biotech can improve agrifood systems |
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Ahead of a critically important COP, a new report highlights the “hidden” costs of agrifood systems—and the role of biotechnology in mitigating the worst health and climate impacts.
The key finding: Agrifood systems impose at least $10 trillion in “hidden costs” on health and the environment, says a new Food and Agriculture Organization (FAO) report, State of Food and Agriculture 2023.
Why it matters: While the biggest hidden costs (70%) are driven by unhealthy diets and mostly affect wealthy countries, 1/5 of costs are “environment-related, from greenhouse gas and nitrogen emissions, land-use change, and water use, with all countries affected,” says the FAO.
What’s next: Next year’s report will focus on “abatement actions…needed to inform decision-makers on how to leverage policy, regulation, standards and private capital for a transition towards sustainable agrifood systems.”
Biotech already offers solutions—to improve productivity while minimizing climate impacts, reduce greenhouse gas emissions of agriculture and sectors like aviation, and make healthy food more accessible to all.
What BIO’s doing in the U.S.: BIO has long called for investment to help advance these technologies, as well as a regulatory framework that enables farmers and ranchers to adopt these tools. In the U.S., we need greater incentives for SAFs, and a more efficient regulatory process for new animal and plant traits and other climate-friendly measures in the Farm Bill, which still awaits passage.
What BIO’s doing on the global stage: Already a member of Agriculture Innovation Mission (AIM) for Climate, an initiative of COP26, BIO will head to COP28 in Dubai to ensure biotech solutions for food security and climate change have a seat at the table. |
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| Make the Most of Your Presence at COP28
| As we continue to make plans for BIO’s presence at the UN Climate Change Conference (COP28), it would be helpful to know if any members plan to have a presence there, as well. If anyone from your company or organization is planning to be there, contact Tamra Spielvogel, BIO’s climate specialist, so we can coordinate and maximize visibility opportunities.
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President Biden’s Tuesday: In D.C., where he’ll attend the White House “Demo Day,” highlighting more than 40 innovations in science and technology supported by federal funding. Learn how the Bayh Dole Act enables innovation. What’s Happening on Capitol Hill: The shutdown is 10 days away, though Capitol Hill is relatively quiet. The Senate is expected to vote on the confirmation of Dr. Monica Bertagnolli for NIH director. |
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