The combined total of biopharma nonprofit collaborations and grants in 2020 has reached about $24 billion, more than three times the amount recorded for 2019.
More than a third of the money raised through biopharma financings in 2020 was raised by companies developing either a therapeutic or a vaccine for COVID-19, yet completely wiping away those totals still leaves the year with $76.8 billion, a full 12% more than the next highest year.
Multiple companies have had their FDA reviews put on hold because coronavirus-related travel restrictions at the FDA has kept their manufacturing plants from being inspected.
Still not there yet, but close. Biopharma projected deal values are currently at $159.4 billion, just shy of the 2019 record of $160.3 billion. With about six weeks left in the year, it is highly likely that 2020 will come out on top.
In a world where the traditional way of conducting business has been disrupted for most of the year, companies for the most part appear to have adapted well to the prevailing environment. BioWorld conducted a short poll to determine readers’ own experiences during these challenging times and how they believed this new normal might reshape their approach to doing business going forward.
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