Foley & Lardner LLP Partner Kyle Faget is quoted in the Pharmaceutical Technology article, “What a mild recession could mean for small biotechs in 2023,” offering guidance for smaller- and medium-sized biotech companies amid economic uncertainty.
Though larger, more established pharmaceutical companies may have the infrastructure and financial cushion to fall back on, Faget said, “It’s going to be a harder environment for smaller and medium biotechs. Getting funding is going to be more difficult.”
“Everybody has to focus in more and probably take a more conservative approach and take deeper diligence. In a more robust economy, you might be able to take some research risks that might be too expensive to do in the coming year,” she explained.