The top 100 public biopharmaceutical companies with market caps greater than $1 billion, and excluding big pharma companies, spent a total of almost $12 billion on R&D in the first quarter of 2021, compared to $9.4 billion invested last year. A BioWorld analysis of the quarterly filings of this group found that the 24% year-over-year increase in spending was driven, in part, by companies involved in developing COVID-19 vaccines and therapeutics.

Global regulatory activity in 2021 has risen by 25% over this time last year, but the proportion of the activity associated with COVID-19 has dropped in recent months.

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The top 100 public biopharmaceutical companies with market caps greater than $1 billion, and excluding big pharma companies, spent a total of almost $12 billion on R&D in the first quarter of 2021, compared to $9.4 billion invested last year.

Although more than a third of U.S. citizens are fully vaccinated from COVID-19 and society moves closer to normalcy in many parts of the world, the SARS-CoV-2 virus continues to dramatically impact biopharma dealmaking with nonprofit entities, as well as grant awards.

A quick look back at top stories.