Biopharma financing in the final quarter of 2012 reached $4.2 billion, a 36% increase over Q3’s $3.1 billion, again boosted by a strong showing from follow-on public offerings. The fourth quarter’s total, albeit the highest single quarter total of the year, still wasn’t enough to propel 2012’s financing aggregate of $13.6 billion above the $14.1 billion raised in 2011. (See Exhibit 1.) However, keep in mind that 2011’s figure did include Shanghai Pharmaceuticals Holding Co. Ltd.’s $2 billion IPO on the Hong Kong Exchange, [See Deal] a definite outlier, and one, that when taken out of the equation, puts 2012 ahead.
Exhibit 1
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