Although biotech stocks ended up and companies raised a record $49 billion last year, excluding partnership monies, nearly three-fourths of that total came from debt deals. Moreover, $32.3 billion of the debt was issued by only 11 public companies. Amounts raised from initial public offerings (IPOs; $972.7 million), follow-ons and private investments in public equity (PIPEs) were meager, nearly a third less than totals in 2007, whereas debt raised dwarfed previous years. Private companies raised $5.5 billion in 2011, up 6% from 2010.

Stock market performance

Global biotech venture capital investment

Notable 2011 deals

Global biotech industry financing

Global biotech initial public offerings