1、Click here or press enter for the accessibility optimised version2024 PreviewClick here or press enter for the accessibility optimised versionForewordThe biopharma sector spent much of2023 wondering whether investorsentiment could get any worse.As newdepths were plumbed in October theanswer appeared

2、 to be yes.But there are reasons to believe that2024 will see better times,if onlybecause global interest rates,always thiscash hungry sectors Achilles heel,seemto have topped out.But the macro environment is precarious,and vulnerable to shocks.Few arepredicting a speedy,bump-free recovery.This repo

3、rt seeks to highlight the hints ofan upturn that many believe is alreadyunderway.It also finds signs of ongoingdifficult times for many in biopharma.Thiswill be particularly true for those groupsthat need to raise cash for projectsoutside of“A-list”therapy areas andmechanisms,or for early,unprovenap

4、proaches.These hot areas,for example metabolicconditions like obesity or antibody-drugconjugates in oncology,managed toattract huge financial support last year,even when the wider funding climate wasdire.The gravitational pull of validatedForewordUnless companies can tell a very convincing growthsto

5、ry,investors are refusing to put money to work.Thisis likely to remain true next year,for both the public andprivate biopharma sectors.and successful approaches is unlikely toabate next year,sucking cash towards afortunate few.Progress in treating obesity and relatedconditions will remain a big stor

6、y forbiopharma in 2024.The enormousvaluations currently boasted by Lilly andNovo Nordisk,this fields leaders,arebolstered by a belief that the incretindrug class will help promote radicalimprovements in the health of hugeswathes of the population.There are two themes to watch next yearin this area:f