Best Biotech/Healthcare Groups for SA 2025

Rising sophomore interested in biotech/healthcare IB. Was curious on how the current tier list looking like for healthcare (specifically biotech/biopharma) in terms of best banks/groups? How are banks like Piper and Cowen looking like in these groups right now? What banks would be considered "mid-tier"?

4 Comments
 

Just my perspective as another rising soph-mostly based on networking.

S tier is CVP SF Biopharma - undisputed king of Life Sciences M&A, are on more or less every single large cap sell-side.

I’d say next is JPM/LAZ/EVR/GS currently and potentially PJT (see Amgen/Horizon) in the future. MS and BofA are great too.

MMs- Jeffries is probably the best, not so much with M&A though. Cowen, MTS, Blair are also good.

 

Yeah I'd say Guggenheim is probably just below Jeffries for Biotech. With MedTech and other healthcare sectors though, it is absolutely goated, along with PWP

 

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