> ## 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 Pharma Grows 7% YOY. $1.3B+ VC Funding. - URL: https://newsletters.qs.com/pharma-grows-7-yoy-1-3b-vc-funding/ - Published: 2024-06-24T12:12:52.000Z - Updated: 2024-06-24T12:12:52.000Z - Description: Impact Capital Markets #121 looks at our Pharmaceutical Stock Index, major impact deals, M&A, and upcoming economic releases. - Author: QS - Tags: Deals [**Hei**](https://en.wikipedia.org/wiki/Norwegian%5Flanguage?ref=newsletters.qs.com) ๐Ÿ”๏ธ ๐Ÿ“ˆ **Today's Global Economic Update:** Japan's inflation rate [increased to 2.8% from 2.5% in April](https://www.stat.go.jp/data/cpi/sokuhou/tsuki/index-z.html?ref=newsletters.qs.com), propelled by a notable increase in electricity prices after the energy subsidies ended. The data comes as minutes from the Bank of Japan's June meeting highlighted concerns about potential inflationary overshooting. ๐Ÿ”ฌ **Deal of the Day:** BillionToOne, a precision diagnostics company, raised a [$130M Series D](https://www.prnewswire.com/news-releases/leading-molecular-diagnostics-company-billiontoone-raises-130-million-in-oversubscribed-series-d-funding-over-1b-valuation-302179324.html?ref=newsletters.qs.com) to expand and scale its prenatal and oncology businesses. **What's New?** ๐Ÿ’Š **Pharmaceutical.** Pharma grows 7% YOY **๐Ÿ’ฐ Funding.** Precision diagnostics, e-grocery services, AI drug formulation + more ๐Ÿ’ผ **M&A.** Medical devices and solar solutions ๐Ÿ“… **Economics.** US GDP, Euro area inflation, balance of trade + more ## ๐Ÿ’Š **Pharma Grows 7% YOY** [![](https://storage.ghost.io/c/f1/d4/f1d411df-6f49-4c75-a302-f8c9e9f59495/content/images/2024/06/HolonIQ_HolonIQ_Pharmaceutical_HIQPHARM_HCHYK7ZTCIF4P2SV2I5W--1-.png)](https://index.holoniq.com/charts/HCHYK7ZTCIF4P2SV2I5W/HolonIQ-Pharmaceutical-%28HIQPHARM%29?ref=newsletters.qs.com) HolonIQโ€™s Pharma Index has risen 7% over the past 12 months. Eli Lilly ($840B MCap) and Novo Nordisk ($488B MCap) have driven growth with their GLP-1 drugs for obesity treatment, reflecting a 90% and 82% YOY stock price growth, respectively. Strategic initiatives from pharmaceutical companies, such as Eli Lilly's direct-to-consumer website and Novo Nordisk's partnerships, are aiming to expand market reach. Combined sales of their diabetes and obesity drugs are projected to reach approximately $36.9B by 2024, with expectations of nearly doubling by 2028. Despite challenges such as high R&D investments and revenue pressures from declining COVID-19 treatment sales affecting major players like Pfizer, Moderna, and Merck, the outlook for biotech and pharma stocks in 2024 remains optimistic. Anticipated advancements in AI-driven technologies are poised to revolutionize biotech, enhancing drug development efficiencies and clinical study designs, further bolstering growth prospects for the sector. ## **๐Ÿ’ฐ** Funding ## ๐Ÿ›’ **Zepto**, an Indian e-grocery provider, raised a [$665M Series F](https://www.business-standard.com/companies/news/quick-commerce-firm-zepto-raises-665-mn-in-funding-valued-at-3-6-bn-124062100289%5F1.html?ref=newsletters.qs.com) from Lightspeed Venture Partners and Avenir Growth Capital to expand its market reach. ๐Ÿ”ฌ **BillionToOne**, a California-based precision diagnostics company, raised a [$130M Series D](https://www.prnewswire.com/news-releases/leading-molecular-diagnostics-company-billiontoone-raises-130-million-in-oversubscribed-series-d-funding-over-1b-valuation-302179324.html?ref=newsletters.qs.com) from Premji Invest to expand and scale its prenatal and oncology businesses. ๐Ÿ’Š **METiS Pharmaceuticals**, a Chinese AI-driven drug formulation company, raised a [$100M Series C](https://www.dealstreetasia.com/stories/metis-series-c-round-401031?ref=newsletters.qs.com) from CICC Capital to advance its AI-driven drug delivery and discovery platform. ๐Ÿฆพ **Vecna Robotics**, a Massachusetts-based robotics and technology company, raised a [$100M Series C](https://www.morningstar.com/news/business-wire/20240620842548/vecna-robotics-closes-100-million-in-series-c-funding-to-streamline-and-automate-warehouse-workflows?ref=newsletters.qs.com) to fund new workflow-specific innovations ๐ŸŽฅ **HeyGen**, a California-based AI video generation platform, raised a [$60M Series A](https://www.finsmes.com/2024/06/heygen-raises-60m-in-series-a-funding.html?ref=newsletters.qs.com) from Benchmark to scale its operations. ๐Ÿ›๏ธ **Daydream**, a California-based AI-powered search and discovery shopping platform, raised a [$50M Seed](https://www.finsmes.com/2024/06/daydream-raises-50m-in-seed-funding.html?ref=newsletters.qs.com) from Forerunner Ventures and Index Ventures to further enhance shopping with their fashion search engine. ๐Ÿ›ก๏ธ **Amplify Life Insurance**, a California-based digital insurance platform, raised a [$20M Series B](https://www.finsmes.com/2024/06/amplify-life-insurance-raises-20m-in-series-b-funding.html?ref=newsletters.qs.com) from Crosslink Capital and Anthemis to launch a suite of proprietary products. ## **๐Ÿ’ผ** M&A ## ๐Ÿ”ฌ **Boston Scientific Corporation**, a Massachusetts-based medical technology company, [acquired](https://www.finsmes.com/2024/06/boston-scientific-acquires-silk-road-medical.html?ref=newsletters.qs.com) Silk Road Medical, a California-based medical device company. โ˜€๏ธ **Nextracker**, a California-based Intelligent solar solutions provider, [acquired](https://www.finsmes.com/2024/06/nextracker-acquires-ojjo.html?ref=newsletters.qs.com) Ojjo, a California-based energy company. ## **๐Ÿ“…** Economic Calendar US GDP, Euro Area Inflation, Balance of Trade + More ### Monday, June 24th 2024 ๐Ÿ‡ฆ๐Ÿ‡บ [Australia Westpac Consumer Confidence Change, June](https://www.westpac.com.au/?ref=newsletters.qs.com) ### Tuesday, June 25th 2024 ๐Ÿ‡จ๐Ÿ‡ฆ [Canada Inflation Data, May](https://www150.statcan.gc.ca/n1/daily-quotidien/240521/dq240521a-eng.htm?HPA=1&indid=3665-1&indgeo=0&ref=newsletters.qs.com) ### Wednesday, June 26th 2024 ๐Ÿ‡ฉ๐Ÿ‡ช [Germany GfK Consumer Confidence, July ](https://www.gfk.com/de/home?ref=newsletters.qs.com) ### Thursday, June 27th 2024 ๐Ÿ‡บ๐Ÿ‡ธ [US Durable Goods Orders, May](https://www.census.gov/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US GDP Growth Data, Q1](https://www.bea.gov/?ref=newsletters.qs.com) ### Friday, June 28th 2024 ๐Ÿ‡ซ๐Ÿ‡ท [France Inflation Data (Preliminary), June](https://www.insee.fr/fr/accueil?ref=newsletters.qs.com) ๐Ÿ‡ฎ๐Ÿ‡น [Italy Inflation Data (Preliminary), June](https://www.istat.it/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Core PCE Price Index, May](https://www.bea.gov/news/2024/personal-income-and-outlays-april-2024?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Personal Income & Spending Data, May](https://www.bea.gov/news/2024/personal-income-and-outlays-april-2024?ref=newsletters.qs.com) ### Monday, July 1st 2024 ๐Ÿ‡ฏ๐Ÿ‡ต [Japan Consumer Confidence, June](https://www.cao.go.jp/?ref=newsletters.qs.com) ๐Ÿ‡ฉ๐Ÿ‡ช [Germany Inflation Data (Preliminary), June ](https://www.destatis.de/DE/Home/%5Finhalt.html?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US ISM Manufacturing PMI, June](https://www.ismworld.org/?ref=newsletters.qs.com) ### Tuesday, July 2nd 2024 ๐Ÿ‡ช๐Ÿ‡ฆ [Euro Area Inflation Data, June](https://ec.europa.eu/eurostat/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US JOLTs Job Openings, May](https://www.bls.gov/?ref=newsletters.qs.com) ### Wednesday, July 3rd 2024 ๐Ÿ‡จ๐Ÿ‡ฆ [Canada Balance of Trade, May](https://www.statcan.gc.ca/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US ISM Services PMI, June](https://www.ismworld.org/?ref=newsletters.qs.com) ๐Ÿ‡ฆ๐Ÿ‡บ [Australia Balance of Trade, May](https://www.abs.gov.au/?ref=newsletters.qs.com) ### Friday, July 5th 2024 ๐Ÿ‡จ๐Ÿ‡ฆ [Canada Unemployment Data, June](https://www.statcan.gc.ca/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Employment Data, June](https://www.bls.gov/?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ฆ [Canada Ivey PMI s.a, June](https://www.ivey.uwo.ca/?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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