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Dealmaking within the PMB sector enjoyed an impressive start as companies across the globe embarked on their post-pandemic recovery
The global pharma, medical and biotech (PMB) sector saw US$95.4 billion in deal activity over the first quarter, almost three times the US$33 billion in deals announced in Q1 2020. Deal volume, meanwhile, increased 28% year on year, with 466 deals announced.
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This strong activity is carrying on from the momentum generated by deal activity in H2 2020, reversing the steady 2019 decline. While initially hit hard by the global pandemic, dealmaking within the PMB sector witnessed an impressive rebound over the course of 2020. Global deal value within the sector more than tripled from US$66.4 billion in the first half of the year to US$220.2 billion in the second, while volume increased by 28% over the same time frame.
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Why this signal means the S&P 500 is running out of steam, Wall Street strategist says MarketWatch 2/4/2021
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There is a lot going on and it’s sending the Dow and S&P 500 toward a fourth straight day of gains.
Investors are digesting a deluge of corporate earnings, as well as key weekly jobless claims data, showing the lowest number of claims since November.
Another event being keenly monitored by investors pertains to the recent GameStop frenzy, which has led to wild swings for stocks, including that videogames retailer and the cinema chain AMC Entertainment through users on Reddit’s WallStreetBets forum.