The German major's internal R&D fortunes in the cardiovascular space have been mixed, with asundexian faltering in a recent atrial fibrillation trial, so getting hold of the European rights to BridgeBio's recently-filed ATTR-CM therapy is a timely boost.

Several Chinese biotech developments during the Lunar New Year break have put investors on high alert, namely the continued share price slide of Chinese biotech bellwether WuXi Apptec, Lianbio ceasing operations and I-Mab divesting its China business to become a fully US-focused company.

Investors’ euphoria on Cytokinetics’ positive Phase III study may be tempered by its high debt, pass-through royalties, entrenched competition and the FTC in the terms of any transaction.

Aficamten hits nicely in its pivotal hypertrophic cardiomyopathy trial, and a deal will surely follow.