Welcome to the era of 'mega biotechs'

Hello,

Welcome to Insider Healthcare. I'm Shelby Livingston, and I cover how healthcare is paid for and delivered in the US for the Insider healthcare team. Today in healthcare news:

• The era of "mega biotechs" has arrived, and these startups are drawing high valuations that they could fail to live up to;
• Pfizer outlined a busy 2021 for its coronavirus shot, which the company projects will bring in $26 billion in revenue this year;
• Experts believe the US is getting closer to achieving herd immunity against COVID-19, but that threshold's a moving target.

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Do you have comments or tips about health insurers or healthcare providers? Email me at slivingston@insider.com or tweet @ShelbyJLiv.

A new wave of drug startups with big portfolios and precarious valuations has burst onto the scene. Welcome to the era of 'mega biotechs.'

• At least 6 biotech startups launched in the past year after creating or acquiring smaller ventures.
• These "mega biotechs" are fueled by record amounts of VC flowing into the drug industry.
• Insiders say they are "priced for perfection" and could fail to live up to their early valuations.

Catch up on the latest here>>

One slide lays out Pfizer's busy 2021 plans for its COVID-19 vaccine, including when it could start being used in kids

• Pfizer outlined Tuesday a busy 2021 for its COVID-19 vaccine.
• The drugmaker expects to apply for full US approval in May.
• Additional studies are testing a temperature-stable version and giving it to younger children.

Read the full story>>

Herd immunity in the US could be around the corner - but maintaining it is likely to be a perpetual battle

• The US could reach herd immunity for COVID-19 in weeks or months, but the metric is a moving target.
• Vaccines bring the US closer to that goal. More-contagious variants make it harder to reach.
• Maintaining herd immunity could require annual booster shots.

Find out more>>

More stories we're reading today:

• A biotech VC accuses his Proskauer lawyers of bungling a hedge fund deal, costing him 'hundreds of millions' (Insider)
• Denmark bans Johnson & Johnson's coronavirus vaccine, citing the risk of rare blood clots (Insider)
• A Crisis of Undiagnosed Cancers Is Emerging in the Pandemic's Second Year (ProPublica)
• Pennsylvania is keeping its mask mandate until 70% of adults are vaccinated, governor says (Insider)
• A doctor trained nurse practitioners to do colonoscopies. Critics say his research exploited Black patients (STAT)

- Shelby