By Rédaction Africa Links 24 with Meghana Keshavan
Published on 2024-01-19 14:18:08
The biotech job market is showing signs of improvement after a tough year in 2023. The J.P. Morgan conference was filled with optimism for the future, with hopes for a vastly improved job market. The industry has seen a reset, with salaries returning to appropriate levels and a decline in “tourist investors” that had previously inflated valuations. This has resulted in the folding of many “me-too” companies, making way for more innovative startups. There is also anticipation for the IPO window to continue opening, while there is a growing need for early-stage preclinical and translational talent.
Cash-rich biotech startups are making strategic changes, with an emerging trend of laying off employees and re-evaluating their strategies due to a tough market for venture capital. Potential future challenges and opportunities in the biotech market for 2024 are discussed in “The Readout LOUD,” STAT’s biotech podcast.
Meanwhile, Bernie Sanders is seeking to subpoena the CEOs of Johnson & Johnson and Merck following an investigation into high drug prices. This is an unusual move, as it has been over 40 years since this particular committee issued a subpoena. The executives have refused to testify at a hearing on high prescription drug prices, which Sanders finds “absolutely unacceptable.”
New research published in Science has shown promise in the development of diagnostics for long Covid. The study has identified high levels of certain immune-related proteins in the blood of people with long Covid, potentially paving the way for new diagnostic tools and therapeutic targets.
In addition, further reads and news stories related to the biotech industry are also provided for those who want to stay up to date with the latest developments. If you are interested in joining a secret list for an upcoming biotech newsletter, you are encouraged to sign up to get the biotech newsletter in your inbox.
Read the original article on Africa Health News
