The BioWorld Drug Developers Index (BDDI) continued to track closely with the Nasdaq Biotechnology Index (NBI) and the Dow Jones Industrial Average (DJIA), maintaining its trend upward after a decline at the end of April. BDDI increased by 2.14% through the end of June, following a 1.82% rise through May, after ending April down 4.8% from the start of the year.

In the first half of 2024 (1H24), biopharma deal and M&A values have outpaced those of last year. Deal values reached $97.59 billion through June this year, marking an 11% increase from 1H23 and setting a new record for the highest amount raised in the first half of any year, according to BioWorld. Additionally, biopharma M&As more than doubled, soaring from $29.59 billion in the first half of 2023 to $67.44 billion in the same period this year.

Biopharma firms raised a total of $22.94 billion in the second quarter (Q2) of 2024. Although a 51% decline from Q1's $47.25 billion, with more than $70 billion raised in the first half of the year, financings in 2024 are already approaching 2023’s full-year total of $70.97 billion.

The U.S. FDA approved 28 new drugs in June, marking the third-highest month in BioWorld’s records, following March 2024’s 30 approvals and June 2020's 29 approvals, and a significant increase from May’s 11 FDA drug approvals. For context, the FDA approved an average of around 16 drugs per month in 2023, 12.5 per month in 2022, and 17 per month in both 2021 and 2020.

In the first half of 2024 (1H24), biopharma deal and M&A values have outpaced those of last year. Deal values reached $97.59 billion through June this year, marking an 11% increase from 1H23 and setting a new record for the highest amount raised in the first half of any year, according to BioWorld. Additionally, biopharma M&As more than doubled, soaring from $29.59 billion in the first half of 2023 to $67.44 billion in the same period this year.

The U.S. FDA approved 28 new drugs in June, marking the third-highest month in BioWorld’s records, following March 2024’s 30 approvals and June 2020's 29 approvals, and a significant increase from May’s 11 FDA drug approvals. For context, the FDA approved an average of around 16 drugs per month in 2023, 12.5 per month in 2022, and 17 per month in both 2021 and 2020.

Biopharma firms raised a total of $22.94 billion in the second quarter (Q2) of 2024. Although a 51% decline from Q1's $47.25 billion, with more than $70 billion raised in the first half of the year, financings in 2024 are already approaching 2023’s full-year total of $70.97 billion. Biopharma financings in the first half of 2024 reached $70.19 billion, marking a 130% increase over the first half of 2023. Only the first half of 2021, which saw $71.58 billion raised, has been higher.

Biopharma deal value in June decreased to $12.82 billion, down from $18.76 billion in May, $15.28 billion in April, and $27.9 billion in January.