NorthWest Biotherapeutics Inc (NWBO)

[no2koolaid]

According to this article, its a bit of both partnerships & acquisitions… https://www.pharmavoice.com/news/pharma-ma-stagnated-in-2021/617162/ …

The pharma industry has shifted its firepower away from acquisitions in the last few years and instead, has focused on partnerships. In 2019, pharma spent 9% of its firepower on alliances and 25% on M&A. In 2021, the script flipped and 9% was spent on M&A while 13% was used for alliances. There’s a common refrain that pharma companies are not investing as much in R&D as they used to. The reality, however, is that the industry is investing more in research in recent years. Pharma’s R&D spend as a percentage of revenue increased from 14% in 2010 to 17.7% in 2021. But the challenge now is that pharma companies are pursuing more complex targets, ultimately leading to higher rates of failure. On top of that, top-line erosion from drugs falling off the patent cliff will often not be adequately offset by new treatments in the R&D pipeline. To fill the innovation gap, larger pharma companies will continue to go outside of their house to find attractive assets.