Are We in an Extremely Tight Labor Market in Our Industry?

This week’s Biotech Hangout theme is, “the good, the bad, the ugly” … and the “interesting.” Starting with “the good,” hosts Daphne Zohar, Josh Schimmer, Tim Opler, Dawn Bell and John Maraganore discuss the Mineralys ($MYLS) IPO and recent deals including Pfizer, Novartis and Merck on the hunt for new deals and CVS’s acquisition of Oak Street Health, a value-based primary care company and rival to United Healthcare. The “bad” centers around recent layoffs and shutdowns in the industry and government pressures on drug pricing. For “the ugly,” the team talks about the cost of sustainable innovation in the biotech industry. The hosts also examine if increased M&A and investor support will help correct the market, the latest on the Inflation Reduction Act and its impact on the industry and the importance of generics and intellectual property in biopharma. All agree that the industry provides significant opportunity and the “good” far outweighs the “bad” and the “ugly” in an industry with huge impact on patients and society.