Biopharma financing activity surged in the first eight months of 2024, reaching $77.5 billion, a 91.25% increase from the $40.52 billion raised during the same period in 2023. August saw a slight dip in funding, with $3.48 billion raised compared to $3.71 billion in July.

On news that drove shares up by 36% on Sept. 3, San Carlos, Calif.-based Vaxcyte Inc. priced a $1.3 billion follow-on offering a day later. It is the fourth highest amount raised through a follow-on offering of shares in BioWorld’s records, as well as the second largest financing of all types for 2024, behind New York-based Pfizer Inc.’s $3.1 billion global sale of shares in March.

Technological breakthroughs are changing the biopharmaceutical landscape and forcing regulators to think on their feet and facilitate (not impede) innovation, experts said at the Global Bio Conference (GBC) 2024. “Regulatory speed and agility are necessary amid emergencies to cater to unmet medical needs,” Choong May Ling, CEO of Singapore’s Health Sciences Authority, told audience members in Seoul, South Korea.

Biopharma IPOs have faced tough conditions in recent years, but 2024 is showing signs of improvement in terms of value, while stumbling on overall performance. IPO values remain significantly lower than the peak years of 2020-2021 and are still below collective values seen in 2014-2019, however, this year's value marks a recovery compared to the challenging environment of 2023.

Through July 2024, biopharma firms received $2.52 billion in grants, marking a 52% increase from $1.66 billion in grants during the same period last year. However, nonprofit deals are at their lowest level on record, according to BioWorld’s records. Although nonprofit deal values were initially higher in April compared to 2023, they have since dropped and are now well below the levels seen in prior years.

Although last year’s massive U.S. launch of Humira biosimilars captured headlines, the market adoption of those competitors has been nothing to write home about, even with discounts as low as 85% off the innovator price.

During a webinar arranged by Demy-Colton, panelists discussed a wide range of potential outcomes that might occur depending on which political party ends up in power next year. From tweaks to the Inflation Reduction Act to new laws to the Federal Trade Commission's regulation of M&As, there’s potential for the government to have substantial effects on the drug development industry.