2024: A Year of Successes and Setbacks in Biopharma

Pharma and BioTech Daily

Good morning from Pharma and Biotech Daily, the podcast that gives you only what's important to hear in Pharma and Biotech world.In 2024, the biopharma industry experienced both successes and setbacks in the field of neuroscience drug development. Companies like Bristol Myers Squibb, Eli Lilly, and AbbVie saw highs and lows throughout the year. Despite a still-tight business environment, there were some breakthroughs in the industry. Layoffs continued to be a trend, with companies like Bayer, Bristol Myers Squibb, and Johnson & Johnson cutting hundreds or thousands of employees. Clinical trial flops were also prevalent, especially in the neuro space where success rates are particularly low. Mergers and acquisitions remained relatively small in 2024, with Novo Holdings' acquisition of Catalent being the largest deal at $16.5 billion. The year also saw significant advancements in areas such as immuno-oncology, obesity clinical programs, and next-generation oncology drug classes. Additionally, there were legal challenges and regulatory developments that impacted the industry. The FDA approved landmark drugs and therapies throughout the year, including Lilly's GLP-1 for sleep apnea. Job opportunities in the biopharma industry continued to be available across various roles and companies.