Clinical trial data from January-September 2023 was up 1.79% compared to the same time period last year. In the first three quarters of this year, BioWorld reported on 2,611 drugs in phase I-III, compared to 2,565 in Q1-Q3 2022. The number of trial updates is down 13.74% from 3,027 in 2021 and also down from the 2,738 in 2020, but up from 2,251 updates noted in 2019.
Out of the 30 companies comprising BioWorld’s Drug Developers Index (BDDI), 22 stocks saw a decrease in their stock prices in September, while two remained stable, and six showed positive gains. At the end of the third quarter, 80% of companies on BDDI experienced a decline in their stock values, with only six recording an increase.
The first three quarters of 2023 delivered a mix of approval news, with an uptick in U.S. FDA clearances over the previous year, but still tracking lower than 2017-2021. Global approvals are on a different trajectory, down year over year.
The official end of the COVID-19 public health emergency in the U.S. in May did not mark the end of interest and investment in the area. In the shifting landscape, attention has pivoted to new markets, emerging strains, boosters, and the commercialization and distribution of COVID-19 vaccines and therapies.
Through Q3 2023 biopharma values are down 4.5% year over year, with 1,007 deals valued at $130.58 billion this year, compared to 1,179 deals worth $136.73 billion in the same time period in 2022. Biopharma deals have averaged $14.51 billion per month this year, a decrease from 2022’s average of $17.18 billion per month. September deals outpaced the average of both years, reaching $18.46 billion.
Med-tech deals are up 49.01% year over year, with the industry raising $9.83 billion through September in 2023, up from $6.59 billion in the same time frame last year. The number of deals, meanwhile, has decreased from 1,510 through Q3 2022 to 1,278 this year.
Through Q3 2023 biopharma values are down 4.5% year over year, with 1,007 deals valued at $130.58 billion this year, compared to 1,179 deals worth $136.73 billion in the same time period in 2022. Biopharma deals have averaged $14.51 billion per month this year, a decrease from 2022’s average of $17.18 billion per month. September deals outpaced the average of both years, reaching $18.46 billion.
Through the third quarter 2023 med-tech firms raised $14.35 billion in financings, down 43.82% from $25.55 billion raised in the same period last year. Money raised is also down from $42.04 billion raised in 2021, $47.61 billion in 2020 and $29.66 billion in the first nine months of 2019.
The BioWorld Biopharmaceutical Index (BBI) has fallen from its highest point this year to close September up 5.91% since the start of the year. BBI was down 3.65% at the end of February, peaked at 7.87% at the end of August, then closed up 5.91% on Sept. 29, tracking higher than both the Nasdaq Biotechnology Index (NBI) and Dow Jones Industrial Average.
Through September 2023, biopharmas raised a total of $49.15 billion, up 7.46% in value from the $45.74 billion raised in the same period last year. Value is down from $93.98 billion raised in 2021 and $104.09 billion in 2020, but up from $42.17 billion raised in 2019 in the same time period.