In other news, as part of my job I've had an opportunity to systematically go through the oncology pipelines of all of the major pharmas (only Phase 2 and later).
One thing that strikes me is how threadbare the later-stage pipelines of all of these companies are, including companies like Amgen that are traditionally seen as innovators. Among those with PD-1/PD-L1s, the majority of their late stage trials are line expansions.
The one big exception to this is AstraZeneca, which has a really impressive pipeline.
The other thing I'm seeing is that there is a tremendous focus on tinier and tinier indications within heme/onc. It seems like heme/onc presents the opportunity for easier wins than solid tumors. But how much market opportunity is there in these tiny indications with multiple drugs.
My conclusion from all of this is that there is going to be, indeed there has to be, a wave of buyouts coming.
