Recent financings, including the $150m launch of Pathalys and a planned $100m IPO for Mineralys, illustrate the reality of biopharma funding in 2023 – that having near-term clinical trial milestones are key to fundraising this year. Companies with dwindling cash are conserving the funds they have left.

Stressing the need for vertical integration to be a successful biosimilars developer in the long run, Amneal co-CEO Chirag Patel has set out the firm’s future strategy in the area – including aiming to be quicker to market with future launches – as Amneal proves itself against rival biosimilars players in the US market.

The fear of going out of business before getting a drug submitted to regulators is one that a couple of European biotechs have had to face up to this week.

Amid upheaval for leading industry players Sandoz, Teva and Viatris, Amneal sees room to grow both in its home market and internationally, according to co-CEO Chirag Patel.