Without a mega-merger like 2023’s Pfizer/Seagan takeout, M&A deals grew smaller during the first half of 2024, while volume rose. In alliance deals, H1 2024 activity somewhat mirrored activity from H1 2023.

A Pink Sheet analysis finds US approval preceded European Union clearance for 80% of products approved in both areas, but when EU approval came first, it beat the FDA by a median of 13 months. US-first approvals came close to six months before the EU.

Oculis’s licaminlimab showed ability to treat a sign of dry eye disease in a genetic subpopulation, but data in the fuller Phase IIb trial enrollment were less impressive.

While Lupin is “truly excited with the potential” ahead, the uncertainty around upcoming product launches paints a different financial picture.