The BioWorld Drug Developers Index (BDDI) continued to track closely with the Nasdaq Biotechnology Index (NBI) and the Dow Jones Industrial Average (DJIA), maintaining its trend upward after a decline at the end of April. BDDI increased by 2.14% through the end of June, following a 1.82% rise through May, after ending April down 4.8% from the start of the year.

The BioWorld Drug Developers Index (BDDI) mirrored the movements of the Nasdaq Biotechnology Index and the Dow Jones Industrial Average, up in May after a decline at the end of April. BDDI ended May up 1.82% after closing in April down 4.8% from the beginning of the year.

Though down nearly 6% in January, the BioWorld Drug Developers Index (BDDI) rebounded in February, finishing the month with a 4.41% increase and outperforming both the Nasdaq Biotechnology Index (NBI; up 1.33%) and the Dow Jones Industrial Average (DJIA; up 3.47%). In 2023, BDDI concluded the year down 11.35%, trailing behind the NBI and DJIA.

In 2023, the BioWorld Drug Developers Index (BDDI) concluded the year down 11.35%. Although its performance trailed behind the Nasdaq Biotechnology Index (up 3.74%) and the Dow Jones Industrial Average (up 13.7%), BDDI nonetheless made a recovery from the end of October when it was down 31.4%. Notably, the top two performers on BDDI in 2023 had stock rises attributed to approvals in rare disorders. In 2022, the index concluded the year down 20.13%, and in 2021 BDDI was up 7.06% at year-end.

BioWorld’s Drug Developers Index continued to fall in October, down 31.4% for the year, compared to September when it ended down 22.8%. Among the 30 stocks tracked, only five saw gains, with the remaining 25 experiencing declines, aligning with the year’s overall trend through Nov. 16. In March, the index experienced a 12.56% drop, stayed around negative 12% through July, and has faced steady declines since.

Out of the 30 companies comprising BioWorld’s Drug Developers Index (BDDI), 22 stocks saw a decrease in their stock prices in September, while two remained stable, and six showed positive gains. At the end of the third quarter, 80% of companies on BDDI experienced a decline in their stock values, with only six recording an increase.

Chatter about an impending acquisition of Horizon Therapeutics plc sent its shares soaring 61% throughout November, making it the best performing stock of the month among the 30 companies that are part of BioWorld’s Drug Developers Index (BDDI).

A mega-deal and high-money buyouts may have given a boost to BioWorld’s Drug Developers Index in October, but safety issues, money troubles and failed trials continue to hold stocks down. Compared with the broader markets, drug development companies are showing the same ups and downs, influenced by rising inflation and a struggling economy, as well as uncertainties caused by war, the COVID-19 pandemic and politics.

Everything from regulatory approvals, clinical readouts and big money buyout offers can boost the stocks of biopharma companies. But restructurings, diminishing cash and safety issues can also push the prices down. Either way, since the end of July, BioWorld’s Drug Developers Index has shown minimal movement. It is still down by 21.95% for the year, but that is its highest point since the end of March. In comparison with the broader markets, it is following closely the path of both the Nasdaq Biotechnology Index, down 17.16% for the year, and the Dow Jones Industrial Average, down 13.09%.

After bottoming out at the end of May, BioWorld’s Drug Developers Index is making a slow, tedious climb back upwards. The index was down 23.18% for the year as of July 27, which is better than where it was at the end of each of the three prior months. It is following the same curve as the Nasdaq Biotechnology Index and the Dow Jones Industrial Average, which are down by 16.47% and 11.39%, respectively.