LONDON – Medical research charities that form an integral part of the U.K. health research system are still reeling from the impact of COVID-19 and now expect it will be three years before funding returns to pre-pandemic levels.
After Moderna Inc. lowered its revenue expectations earlier this month, the company’s swollen stock price plunged over the next two weeks by more than 32%, signifying that BioWorld’s Drug Developers Index can no longer rely solely on one company to keep industry stocks in positive territory.
A busy regulatory environment globally throughout most of 2021 has translated into more than 15% of all actions taken relating to the COVID-19 pandemic, yet only one product has been approved in the U.S. for the SARS-CoV-2 virus.
Continuing its downward trend, BioWorld’s Cancer Index (BCI) has fallen by 19.16% this year, a stark contrast with the broader Nasdaq Biopharmaceutical Index and the Dow Jones Industrial Average, both of which are tracking up by 4.49% and 19.03%, respectively.