Figure - PMC

Skip to main content

An official website of the United States government

Here's how you know

Here's how you know

Official websites use .gov
A .gov website belongs to an official government organization in the United States.

Secure .gov websites use HTTPS
A lock ( ) or https:// means you've safely connected to the .gov website. Share sensitive information only on official, secure websites.

View full-text article in PMC

. 2022 Jan 11;56(2):313–322. doi: 10.1007/s43441-021-00364-y

Search in PMC
Search in PubMed
View in NLM Catalog
Add to search

© The Author(s) 2022

Open AccessThis article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/.

PMC Copyright notice

Fig. 1 — Company valuation, investment multiples, and annual returns by lead drug’s FDA orphan designation status and number of indications. Graphs in the first row compare the valuation (A), investment multiples (B), and annual returns (C) for companies with orphan- and non-orphan-designated lead drugs by development stage. Graphs in the second row compare the valuation (D), investment multiples (E), and returns (F) for companies with multi-indication and single-indication lead drugs by development stage. Valuation data from our sample of 311 Biopharma acquisitions (2005–2020) were inflation adjusted to 2020 values and combined with previously published success rates and development periods to calculate multiples and returns [11, 16]. No valuation data exist for the Pre-Clinic orphan category given that the FDA only issues the orphan designation status after IND approval. P values calculated based on ANOVA with Dunnett’s test: *p < 0.05, **p < 0.01, ***p < 0.001. FDA US Food and Drug Administration