For biopharma, the 2023 post-pandemic reality check has been harsh, replete with sagging stock prices, bankruptcy filings and restructurings, as well as IPOs at their lowest levels in a decade. The good news, according to a handful of industry experts, is that it could be coming to an end, possibly as early as 2024.

Clinical trial updates for the period of January to October 2023 saw an increase of 4.6% compared to the same time period last year. Comparatively, clinical data from January to September 2023 was up 1.79% compared to the same period last year.

Clinical trial updates for the period of January to October 2023 saw an increase of 4.6% compared to the same time period last year. Comparatively, clinical data from January to September 2023 was up 1.79% compared to the same period last year.

BioWorld’s Drug Developers Index continued to fall in October, down 31.4% for the year, compared to September when it ended down 22.8%. Among the 30 stocks tracked, only five saw gains, with the remaining 25 experiencing declines, aligning with the year’s overall trend through Nov. 16. In March, the index experienced a 12.56% drop, stayed around negative 12% through July, and has faced steady declines since.

In October, U.S. FDA approvals experienced a significant upswing, reaching a total of 27 for the month, a 92.86% increase from 14 approvals recorded by BioWorld in September. In the initial 10 months of this year, FDA approvals hit 155, an increase of 22.05% from the 127 drugs approved last year, although approvals are down from 2018-2021. Approved new molecular entities are at 29 in 2023, up from 28 in the corresponding period last year but a decline from 2017-2021.