While the economic future is still murky, easing interest rates and cooling inflation means that biotech companies could be primed for a bounce-back 2023, The Wall Street Journal reported Jan. 17.
The SPDR S&P Biotech ETF is already up 5.9 percent this year, and during the JPMorgan Healthcare Conference Jan. 9-12, AstraZeneca, Ipsen and Chiesi announced separate deals in the $1 billion range.
The HHS timeline for Medicare drug-price negotiations has eased investors' fears, the Journal reported.
Merck CEO Robert Davis used the word "confident" more than 20 times in his presentation at the JPMorgan healthcare conference, setting the tone for how the biotech industry feels in 2023.