BUZZ-Jefferies says biotech may see more M&A deals in 2024

Reuters2023-11-27

** Brokerage Jefferies says the biotech sector should see more M&A deals in 2024 as "valuations have come way down" in the last two years

** Big pharma companies paying close attention to biotech launches

** Biogen and Eli Lilly's Alzheimer's drugs and Madrigal Pharmaceuticals' oral medicine for a type of fatty liver disease are among the key biotech products to watch out for next year - brokerage

** Gene therapies by BioMarin Pharmaceutical's for hemophilia A, and Vertex Pharmaceuticals and CRISPR Therapeutics' for sickle cell disease are also among the products to look out for in 2024 - Jefferies

** Karuna Therapeutics' experimental schizophrenia treatment KarXT also being watched - Jefferies

** Up to last close, while BIIB, KRTX, MDGL and BMRN fell 3-33% YTD, LLY shares surged 64% boosted by positive investor sentiment around its new weight-loss drug Zepbound

(Reporting by Leroy Leo in Bengaluru)

((Leroy.Dsouza@thomsonreuters.com ; ))

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