Biotechs spend hundreds of millions, if not billions, to develop a medicine. Most will fail, and those that don’t often end up selling the rights to their drug — or the entire firm — to a partner with the budget and sales force to launch their product. Investors historically bet on those deals and against the companies that try to market their own drugs, a “short the launch” approach built on decades of skepticism. But over the past few years, more have grabbed at the proverbial brass ring. Among them are companies like Argenx, BridgeBio, Insmed and Madrigal Pharmaceuticals, which have all proven they can sell medicines better than investors expected.
Read the full article: Biotech Investors Gamble on M&A. Some Drugmakers Are Betting on Themselves Instead. //
Source: https://www.biopharmadive.com/news/biotech-startups-commercial-drugs-bridgebio-madrigal-kailera-argenx/817992/