Novartis and Johnson & Johnson will be the first two big pharmas to release second quarter financial results, and both have faced recent patent case developments for top-selling drugs.

The Swedish firm’s lead program has unexpectedly disappointed in a Phase II scar prevention trial, prompting it to turn its efforts to its only other clinical asset for the treatment of chronic wounds.

Private Company Edition: The average exit from biopharma investments rose from $356.8m in 2019 to $520.6m in 2020, explaining the staggering $12bn invested in the industry during the first half of this year versus $17bn for all of last year. In recent VC deals, VelosBio’s $137m series B was the largest. 

Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Dealmaking column is a survey of recent health care transactions listed by relevant industry segment – In Vitro Diagnostics, Medical Devices, and Pharmaceuticals – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced in December 2017.