As Takeda pays down debt associated with the acquisition of Shire and advances R&D programs toward global filings, the company is selling its growth plan to investors – but are they buying?

Chris Boshoff, Pfizer Oncology chief development officer, said lessons from the rapid pace of the company’s COVID-19 vaccine program are being applied to elranatamab and other cancer therapies.

Private Company Edition: New capital for health care and life science innovations include a fund for royalty deals, additional anti-infective funding, early-stage money and public health-focused cash. Also, Day One reveals a $130m series B venture round and Notch closes an $85m series A round.

Public Company Edition: Merging with a special purpose acquisition corporation may be an attractive alternative to an initial public offering, but February’s vigorous IPO pace includes seven recent offerings that raised $480.8m in the US. Also, Cassava raised $200m and KalVista brought in $222.5m.

With the first Revlimid generics launching in 2022, Bristol Myers Squibb’s late-stage assets are key, but earlier programs will help fill the void as Opdivo and Eliquis lose exclusivity later in the decade.

The battle for PCSK9 inhibitor market share continues with Amgen’s Repatha outselling Praluent, but a now-ended patent dispute no longer threatens Regeneron’s ability to sell its product in the US.