While the $118.3 billion raised by biopharma companies in 2021 through public and private transactions is 12% lower than the amount raised the prior year, it still represents an impressive financings record, led primarily by IPOs and venture capital rounds.

The pandemic has forced pharma and biotech to be more agile to better navigate the obstacles and still find success. Supply chain gaps are part of the problem, as are clinical trial delays. Yet the industry has successfully forged ahead in the past year to produce the seven drugs Clarivate believes in the next five years will each earn more than $1 billion annually.

Biopharma money raised to-date and by quarter in 2021, including public, private and other financings.

While the $118.3 billion raised by biopharma companies in 2021 through public and private transactions is 12% lower than the amount raised the prior year, it still represents an impressive financings record, led primarily by IPOs and venture capital rounds.

Just as the world appeared to be winning the battle against COVID-19, the rules of the game changed. Omicron and concerns about future variants flipped the board. Vaccines and monoclonal antibodies are attracting fresh scrutiny as SARS-CoV-2 evolves. Cases are climbing closer to the highest levels recorded since the pandemic began. Antivirals are aiming to fill treatment gaps, but whether they will or not is about as clear as the virus’ next move.