The BioWorld Biopharmaceutical Index (BBI) made an upward turn to end November with a 4.37% increase for the year. It has been a dynamic year for BBI, which reached a low point at the end of February (down 3.65%) and peaked at the end of August (up 7.87%). In October, BBI ended the month up 0.98% and outperformed both the Nasdaq Biotechnology Index and the Dow Jones Industrial Average.
Total med-tech deal value through November is up 34.42% over the same period last year and is also higher than every comparable period from 2019-2022. Conversely, med-tech M&A value experienced a decline of 64.07% compared to the first 11 months of 2022.
In November, the biopharma industry raised $5.65 billion in total financings. While down from $11.6 billion tracked by BioWorld in October, overall financings are tracking ahead of last year. Biopharma funding has maintained an average of $6.1 billion per month in 2023, surpassing the $5.07 billion monthly average throughout 2022.
In November, the biopharma industry raised $5.65 billion in total financings. While down from $11.6 billion tracked by BioWorld in October, overall financings are tracking ahead of last year. Biopharma funding has maintained an average of $6.1 billion per month in 2023, surpassing the $5.07 billion monthly average throughout 2022.
RSS
