The co-founder of the New York City asset management firm Opus
Point Partners, Lindsay Rosenwald has built a career around
biotechnology investment. Since the 1980s, Lindsay Rosenwald has
identified investment opportunities in the medical sector, having served
as one of Wall Street's first physician analysts.
As of July 2013, 16 biotechnology companies have gone public this year, with more than half a dozen companies completing initial public offerings in June alone. Share prices for these firms are now at an average of 48 percent higher than their offering prices. This jump is due in part to Onyx Pharmaceuticals' recent refusal of a $120 per share buyout offer from international giant Amgen. Onyx's demand for a higher price launched a wave of stock increases for biotechs across the country. In mid-July, the New York Times reported that "four of the top 10 performing companies on the Nasdaq year-to-date were biotechs."
In addition, larger companies have acquired venture-capital-backed biotechs. In the second quarter alone, industry leaders bought out five such firms. Moreover, pharmaceutical companies often target small biotechs as licensing partners, saving themselves the upfront investment in research and development.
As of July 2013, 16 biotechnology companies have gone public this year, with more than half a dozen companies completing initial public offerings in June alone. Share prices for these firms are now at an average of 48 percent higher than their offering prices. This jump is due in part to Onyx Pharmaceuticals' recent refusal of a $120 per share buyout offer from international giant Amgen. Onyx's demand for a higher price launched a wave of stock increases for biotechs across the country. In mid-July, the New York Times reported that "four of the top 10 performing companies on the Nasdaq year-to-date were biotechs."
In addition, larger companies have acquired venture-capital-backed biotechs. In the second quarter alone, industry leaders bought out five such firms. Moreover, pharmaceutical companies often target small biotechs as licensing partners, saving themselves the upfront investment in research and development.
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