The June dip in biopharma deal value was short-lived, with July seeing 106 deals worth $17.57 billion, up 72.03% from $10.22 billion in July 2022. In the first seven months of 2023, 778 deals were completed worth $105.39 billion, compared to 995 deals worth $105.9 billion in the same period last year, a decrease of 0.48% by value and a decrease of 21.8% by volume. The same timeframe in 2021 saw 1,240 deals valued at $107 billion, 1,228 deals worth $112.23 billion in 2020, and 963 deals totaling $93.39 billion in 2019.

Biopharmas raised $5.87 billion through 96 financings transactions in July 2023. The total amount raised is similar to the first six months of 2023 average of $5.48 billion per month, ranging from $3.74 billion in February to $8.02 billion in March of this year. Including July, the 2023 monthly average of money raised in all transactions is $5.46 billion.