Robert Cyran, U.S. tech columnist, joined Breakingviews in London in 2003 and moved four years later to New York, where he continues to cover global technology, pharmaceuticals and special situations. Robert began his career at Forbes magazine, where he assisted in the startup of the international version of the magazine. Before working at Breakingviews he worked as a market researcher and reporter covering the pharmaceutical industry. Robert has a Masters degree in economics from Birmingham University and an undergraduate degree from George Washington University.
The pharma giant raised its 2021 guidance, partly due to bumper Covid-19 vaccine sales. Free cash flow could hit $20 billion this year as a result. Even if share buybacks resume, CEO Albert Bourla has scope to take advantage of cheap biotech valuations by making acquisitions.
The insurance brokers scrapped their $30 bln merger – their second attempt – because U.S. antitrust regulators opposed it. The disruption of financial services means there may come a time when the idea no longer poses a threat. By then, of course, there will be less to celebrate.
The approval of what might be the top-selling drug of all time has tacked a remarkably meh $5 bln onto Biogen’s value. Sure, the drug seems marginally effective. And it’s costly. But investors are assuming successful payer pushback, which rarely happens in American healthcare.