> ## Content Index > Fetch the complete content index at: https://newsletters.qs.com/llms.txt > Use this file to discover other available public pages before exploring further. # ๐Ÿ’Š $4.3B Biopharma Acquisition. Nigeria Stock Index Down 3%. - URL: https://newsletters.qs.com/4-3b-biopharma-acquisition-nigeria-stock-index-down-3/ - Published: 2024-03-26T11:30:29.000Z - Updated: 2024-03-26T11:30:28.000Z - Description: Impact Capital Markets #57 looks at HolonIQ's Nigeria stock index, major impact deals, M&A, and upcoming economic releases. - Author: QS - Tags: Deals [**Selam**](https://en.wikipedia.org/wiki/Amharic?ref=newsletters.qs.com) โ˜• ๐Ÿ“‰ **Today's Global Economic Update:** Australia's Consumer Confidence Index [declined by 1.8%](https://www.westpac.com.au/search/?clicked%5Ffluster=business+and+consumer+confidence&cluster0=Consumer+Confidence&form=search-json&profile=%5Fdefault&num%5Franks=10&query=business+and+consumer+confidence&callback=jQuery111104766164740075347%5F1711430001750&collection=westpac-web&%5F=1711430001751&searchtype=similarto&query=Business%20and%20consumer%20confidence&ref=newsletters.qs.com) month-on-month in March 2024, following a 6.2% increase in February. Although last month saw consumer sentiments improve, the March survey update showed that progress continues to be slow. ๐Ÿ’Š **Deal of the Day:** Gilead Sciences [acquired](https://www.finsmes.com/2024/03/gilead-sciences-completes-acquisition-of-cymabay-for-approximately-4-3-billion.html?ref=newsletters.qs.com) CymaBay Therapeutics, a biopharmaceutical company, for $4.3B. **What's New?** - ๐Ÿฆ… **Nigeria.** Nigeria stock index down 3% - **๐Ÿ’ฐ Funding.** Precision meds, biotech, eco-sourcing & mineral exploration - ๐Ÿ’ผ **M&A.** Deals in the biopharmaceutical sector - ๐Ÿ“… **Economics.** Inflation, US GDP, personal income & spending + more ## ๐Ÿฆ… Nigeria Stock Index Down 3% ![](https://storage.ghost.io/c/f1/d4/f1d411df-6f49-4c75-a302-f8c9e9f59495/content/images/2024/03/HolonIQ_HolonIQ_Nigeria_HIQNGRA_HCHC87DT371TKOPKWCCY-2.png) HolonIQโ€™s Nigeria stock index declined by 3% over the past year, reflecting a correction following economic reforms in the country. President Bola Tinubuโ€™s policy decision to withdraw fuel subsidies had a chain reaction that led to 31.7% inflation levels in February 2024\. The peg on Nigeriaโ€™s currency was also removed in 2023\. Since then, it has observed declines of more than 200%, leading to higher import costs for businesses. This was compounded further by price increases as a result of inflationary effects globally. As firms grapple with this uncertainty, stocks in the index, including Guaranty Trust Holding Co. ($990M MCap) and Zenith Bank ($865M MCap), have observed declines. On February 27th, the monetary board increased its interest rate by 400 bps to 22.75%. Monetary tightening has been in place since 2022 and has been welcomed by the IMF as a means of containing inflation levels. The high-interest rates will likely incentivize investors to move away from equities towards fixed income, similar to what was seen during Sri Lanka's economic crisis. ## ๐Ÿ’ฐ Funding ๐Ÿ’‰ **Mirador Therapeutics,** a California-based precision medicine company, raised [$400M Series A](https://www.finsmes.com/2024/03/mirador-therapeutics-raises-over-400m-in-funding.html?ref=newsletters.qs.com) from ARCH Venture Partners to develop its therapeutic programs. ๐Ÿงฌ **Edgewood Oncology,** a Massachusetts-based biotechnology company, raised a [$20M Series A](https://www.finsmes.com/2024/03/edgewood-oncology-raises-20m-in-series-a-funding.html?ref=newsletters.qs.com) from Alta Partners to advance its clinical pipeline of treatments for acute myeloid leukemia. ๐ŸŒฑ **Circular,** a California-based platform developed to simplify sustainable sourcing of post-consumer recycled (PCR) plastic, raised [$10.5M](https://www.finsmes.com/2024/03/circular-raises-10-5m-in-funding.html?ref=newsletters.qs.com) to expand its team. โ›๏ธ **Aberdeen Minerals**, a UK-based mineral exploration company, raised [$6.9M](https://www.marketscreener.com/quote/stock/GUNSYND-PLC-4005967/news/Gunsynd-investees-raise-GBP5-5-million-for-battery-metal-exploration-46277252/?ref=newsletters.qs.com) from Central Asia Metals to fund its battery mineral exploration programs. ## ๐Ÿ’ผ M&A ๐Ÿ’Š **Gilead Sciences**, a California-based biopharmaceutical company, [acquired](https://www.finsmes.com/2024/03/gilead-sciences-completes-acquisition-of-cymabay-for-approximately-4-3-billion.html?ref=newsletters.qs.com) CymaBay Therapeutics, a New Jersey-based biopharmaceutical company focused on developing therapies for patients with liver and other chronic diseases, for $4.3B. ๐Ÿงฌ **AstraZeneca** has entered into a definitive agreement to [acquire](https://www.finsmes.com/2024/03/astrazeneca-to-acquire-fusion-pharmaceuticals-for-up-to-2-4-billion.html?ref=newsletters.qs.com) Fusion Pharmaceuticals, a Canadian clinical-stage biopharmaceutical company developing radioconjugates, for approximately $2.4B. ## **๐Ÿ“…** Economic Calendar Inflation, US GDP, Personal Income & Spending + More ### Tuesday, March 26th 2024 ๐Ÿ‡ฉ๐Ÿ‡ช [Germany GfK Consumer Confidence Index, April](https://www.gfk.com/de/home?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Durable Goods Orders Data, February](https://www.census.gov/?ref=newsletters.qs.com) ### Thursday, March 28th 2024 ๐Ÿ‡บ๐Ÿ‡ธ [US Core PCE Price Index Data, February](https://www.bea.gov/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US GDP Growth Data, Q4](https://www.bea.gov/?ref=newsletters.qs.com) ### Friday, March 29th 2024 ๐Ÿ‡ซ๐Ÿ‡ท [France Inflation Data (Preliminary), March](https://www.insee.fr/fr/accueil?ref=newsletters.qs.com) ๐Ÿ‡ฎ๐Ÿ‡น [Italy Inflation Data (Preliminary), March](https://www.istat.it/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Personal Income & Spending Data, February](https://www.bea.gov/?ref=newsletters.qs.com) ### Monday, April 1st 2024 ๐Ÿ‡ฏ๐Ÿ‡ต [Japan Tankan Large Manufacturers Index, Q1](https://www.boj.or.jp/?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ณ [China Caixin Manufacturing PMI, March](https://www.pmi.spglobal.com/public?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US ISM Manufacturing PMI, March](https://www.ismworld.org/?ref=newsletters.qs.com) ### Tuesday, April 2nd 2024 ๐Ÿ‡ฆ๐Ÿ‡บ [Australia RBA Meeting Minutes](https://www.rba.gov.au/?ref=newsletters.qs.com) ๐Ÿ‡ฉ๐Ÿ‡ช [Germany Inflation Data (Preliminary), March](https://www.destatis.de/DE/Home/%5Finhalt.html?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US JOLTs Job Openings, February](https://www.bls.gov/?ref=newsletters.qs.com) ### Wednesday, April 3rd 2024 ๐Ÿ‡ช๐Ÿ‡ฆ [Euro Area Inflation Data, March](https://ec.europa.eu/eurostat/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US ISM Services PMI, March](https://www.ismworld.org/?ref=newsletters.qs.com) ### Friday, April 5th 2024 ๐Ÿ‡ฆ๐Ÿ‡บ [Australia Balance of Trade Data, February](http://www.abs.gov.au/?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ฆ [Canada Balance of Trade Data, February](https://www.statcan.gc.ca/?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ฆ [Canada Employment Data, March](https://www.statcan.gc.ca/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Employment Data, March](https://www.bls.gov/?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ฆ [Canada Ivey PMI, March](https://www.ivey.uwo.ca/?ref=newsletters.qs.com)[](https://www.ivey.uwo.ca/?ref=newsletters.qs.com) [](https://www.bea.gov/?ref=newsletters.qs.com) [](https://www.ifo.de/?ref=newsletters.qs.com) [](http://www.sca.isr.umich.edu/?ref=newsletters.qs.com) [](https://www.ifo.de/?ref=newsletters.qs.com) --- **Like getting this newsletter?* For unlimited access to more deals and economic updates,* [*request a demo*](https://webforms.pipedrive.com/f/1uMbIPRqUeVuZ31jVtKWMWIuqU2ga1nKo8aotNdGihU16zgOzuTfRMb9XfIIGmcOT?ref=newsletters.qs.com)*.* --- **Thank you for reading. 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