After reaching their peaks in late November, both the BioWorld Drug Developers Index and the Nasdaq Biotechnology Index finished the year slightly down from those highs.

Full-year biopharma deal value in 2025 reached $292.55 billion, the highest annual total in BioWorld’s records, following $78.93 billion in the fourth quarter (Q4). The annual total is a 27% increase from the $230.53 billion recorded in 2024.