The latest report from EP Vantage reviews the performance of the pharma & biotech industry in the first half of 2014 and reveals that while an M&A frenzy accounting for nearly $90 billion of equity set the pace for the first half of 2014, a slowdown in IPOs and six months of volatile market activity could tarnish the year’s shimmering start.

Key findings include:

• IPOs peaked in the first quarter at $2.1 billion, but fell back to $913 million to end the first half of the year

• Companies raised more than $3 billion in venture capital in the first six months, putting the sector on pace to exceed the $5.9 billion raised in 2007
  

• The first seven months of 2014 saw the FDA approve 27 novel agents, which are forecast to generate $7 billion in US sales over the next five years

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