The U.S. FDA approved 10 drugs in November, down from 15 in October, 24 in September and 22 in August. Four new molecular entities were approved by the agency in the month, bringing the year-to-date total to 42.
The BioWorld Biopharmaceutical Index (BBI) closed November with a modest 3.58% gain for the year, a sharp decline from its 16.92% rise in September and peak of 25.19% in August. The BBI has now fallen behind the Nasdaq Biotechnology Index, which posted a 6.27% year-to-date gain, and the Dow Jones Industrial Average, up 19.16% at the end of the month.
Biopharma deal activity in November reached $29.18 billion, up from $22.29 billion in October. Year-to-date deal values have increased 3.6%, from $194.13 billion in the first 11 months of 2023 to $201.19 billion through November this year, overtaking 2023 to be the highest year on record through the month.
Biopharma deal activity in November reached $29.18 billion, up from $22.29 billion in October. Year-to-date deal values have increased 3.6%, from $194.13 billion in the first 11 months of 2023 to $201.19 billion through November this year, overtaking 2023 to be the highest year on record through the month.
Med-tech deal values climbed to $424.5 million in November, after October ranked as the lowest monthly total of the year with $15.9 million in deal value.
By the end of November 2024, the BioWorld Neurological Diseases Index had dropped 13.4%, deepening its decline of 9.4% at the end of August. Meanwhile, the Dow Jones Industrial Average surged 19.16% in the first 11 months of the year, building on a 10.81% gain reported at the end of October. The Nasdaq Biotechnology Index posted a year-to-date increase of 6.27% through November, retreating from its peak gain of 11.7% in August.
Biopharma companies have raised $97.42 billion through November 2024, up 46% from $66.79 billion during the same period in 2023 and also more than $56.56 billion in 2022.
Med-tech firms raised $23.65 billion in financings through November, an increase of 42% from $16.61 billion raised in the first 11 months of 2023. November’s value totaled $919.99 million, down from October’s $1.43 billion and $1.02 billion in September, but up from August's $3.67 billion.
Biopharma companies have raised $97.42 billion through November 2024, up 46% from $66.79 billion during the same period in 2023 and also more than $56.56 billion in 2022. However, this year’s total still trails the record highs of 2020-2021. November financings totaled $3.6 billion, a significant decline from $7.13 billion in October and $9.11 billion in September.
In October 2024, BioWorld logged 219 clinical trial updates, marking a decrease from 252 in September but a rise from 92 in August. The month featured 14 positive phase III trial outcomes and one unsuccessful trial.
