While the FDA’s Center for Drug Evaluation and Research met all action dates for the 53 new molecular entities approved in 2020, despite the COVID-19 pandemic, developers of at least 8 drugs continue to wait for a decision beyond their expected timelines.

As solid efficacy data are reported for at least four more front-runner vaccines, and while biopharma companies join arms with combination antibodies, SARS-CoV-2 variants continue to spread and countries are racing to vaccinate. None of the research is slowing, and governments are determined to make sure another COVID-19 pandemic never again takes the world by surprise. Global deaths are up to 2.2 million, with 102.9 million confirmed cases, according to the World Health Organization. At least 865 therapeutics and vaccines to fight the virus have entered development in the last year.

While the FDA’s Center for Drug Evaluation and Research met all action dates for the 53 new molecular entities approved in 2020, despite the COVID-19 pandemic, developers of at least 8 drugs continue to wait for a decision beyond their expected timelines.

About 91% of funds recorded in 2020 for all biopharma collaborations with nonprofit entities and 75% of all grant money went directly to therapeutic and vaccine efforts to fight COVID-19. BioWorld has tracked 912 bio/nonprofit deals worth $19.86 billion and 658 grants awarded to the industry and valued at $12.98 billion for a combined total this year of 1,570 and $32.84 billion.

From nearly every angle, med-tech financings in 2020 are at a four-year high, raising the industry a whopping $59.7 billion, a 47% increase over the prior year. The records were set despite the deadly SARS-CoV-2 virus that shut down global economies throughout 10 months of the most disruptive year in a lifetime. The pandemic highlighted a widespread need for med-tech technologies, such as diagnostics, for which the industry delivered hundreds of options. Likewise, ventilators, personal protective equipment, telemedicine capabilities and wearables were in high demand.

The volume of med-tech deals and M&As in 2020 reached impressive levels, well above 2019, primarily due to the demands of a global pandemic, although the disclosed values of those alliances fell dramatically short. Even so, the spotlight that shined on digital health and diagnostics throughout the challenging year has potentially set up the med-tech industry for an influx of attention going forward.