In November, the U.S. FDA approved a total of 12 drugs, a decrease from 27 the previous month that marked the highest number of approvals since June 2020, as reported by BioWorld. From January to November, FDA approvals reached 167, an increase of 21.9% from 137 drugs approved during the same time period the previous year.

Biopharma deals totaled $18.97 billion in November, marking a notable decrease from October’s historic deal value of $44.91 billion. Even still, through the first 11 months of 2023 cumulative deal value reached $194.26 billion, an 18.65% gain over the $163.73 billion recorded in the same period in 2022.

Biopharma deals totaled $18.97 billion in November, marking a notable decrease from October’s historic deal value of $44.91 billion. Even still, through the first 11 months of 2023 cumulative deal value reached $194.26 billion, an 18.65% gain over the $163.73 billion recorded in the same period in 2022.

The BioWorld Biopharmaceutical Index (BBI) made an upward turn to end November with a 4.37% increase for the year. It has been a dynamic year for BBI, which reached a low point at the end of February (down 3.65%) and peaked at the end of August (up 7.87%). In October, BBI ended the month up 0.98% and outperformed both the Nasdaq Biotechnology Index and the Dow Jones Industrial Average.