Drug approvals by the U.S. FDA increased 20.48% compared to the first seven months of 2022, even with July approvals slightly down to 13 from the previous six months’ average of 14.5 per month. Worldwide approvals from January to July are down 13.8% from the same period last year.

The June dip in biopharma deal value was short-lived, with July seeing 106 deals worth $17.57 billion, up 72.03% from $10.22 billion in July 2022.

Med-tech deal values the first seven months of the year are up more than 50% from last year. Meanwhile, M&As decreased almost 70% from the same time period in 2022.