The BioWorld Drug Developers Index extended its decline through year-end, closing 2024 down 15.25%. After dropping 11.3% by October, the index briefly rebounded, narrowing losses to 5.36% in November, before slipping again.

The former head of the U.S. NIH has sounded a warning that the uncertainty caused by the Trump Administration’s funding cuts and layoffs is blocking “critical work” and “paralyzing” biomedical research. “Every time we launch a new program, every time we continue to commit resources to ongoing work, those are important decisions that we make every single day, and in times like this, that decision-making is paralyzed,” said Monica Bertagnolli, who stood down as director of the NIH on Jan. 17.

The former head of the U.S. NIH has sounded a warning that the uncertainty caused by the Trump Administration’s funding cuts and layoffs is blocking “critical work” and “paralyzing” biomedical research. “Every time we launch a new program, every time we continue to commit resources to ongoing work, those are important decisions that we make every single day, and in times like this, that decision-making is paralyzed,” said Monica Bertagnolli, who stood down as director of the NIH on Jan. 17.

Med-tech M&As saw a strong start in January, totaling $4.51 billion, a significant jump from $18 million in December 2024 but lower than November’s $12.68 billion. Dealmaking reached $57.94 billion in 2024, averaging about $4.8 billion per month.

Biopharma deal activity in the first month of the year saw the largest January raise thus far, with $28.63 billion in collective funds. While down slightly month over month, the value was comparable to December 2024’s $29.02 billion and November 2024’s $29.34 billion.