European countries and foundations have pledged nearly USD 700 million and reaffirmed commitments of USD 300 million to the WHO, emphasizing the need for sustainable funding to enhance global health initiatives. Key figures, including German Chancellor Olaf Scholz, announced significant contributions during the World Health Summit in Berlin, aiming to support WHO's investment cycle and its mission to improve health worldwide. The event highlighted the urgency of mobilizing resources ahead of the G20 Leaders' Summit next month.
In Q3 2024, biopharma M&A activity remained robust, highlighted by Lilly's $3.2B acquisition of Morphic and Organon's entry into immune-dermatology with Dermavant. The XBI index gained 7% for the quarter, while follow-on activity slowed, yet capital raised reached $6.7 billion across 24 offerings. Despite a favorable macro environment, large biopharma companies are cautious about mega deals due to impending patent expiries and regulatory uncertainties.
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