The Changing Pharma Climate and Opportunities for Growth
The industry has experienced significant changes over the last two decades. There has been a shift in the nature of the products being manufactured and sold by the
innovative biopharmaceutical companies. The global biopharmaceutical portfolio today reflects in a greater prevalence of biologic medicines, expansion of the number of personalized or targeted products, and a rise of treatments for many rare diseases. However, there are still many open questions about what the future in pharma industry brings. We tried to answer some of them.
What is the biggest story in pharma today?
Probably the rapidly increasing cost and development time of a new medicine. Nowadays it takes 12 to 15 years from the discovery to the market. Success rates are very low and estimated below 10%. Costs of development have risen up to € 10 billion per medicine.
How can we improve the outcomes of medical research?
Big data and artificial intelligence will be crucial in solving pharma’s productivity challenge. This could help better predict the potential of each molecule.
In which areas around the world can the pharma industry make the biggest differences in the next 10–20 years?
100% curative therapies are the next mission in research and development. There is lots of interest in gene editing, cell therapies in particular. In the near future, there is a possibility that certain severe patients could be completely cured with one single injection.
What are the crucial success factors for the widespread adoption of advanced therapies?
The advanced therapies are very challenging to manufacture, as each batch is different. A lot of medicines will be personalized. High costs of these medicines present a big challenge, even for the richest countries in the world. Payers are looking for different payment models that could support access to a wider group of patients.
How will Medis cope with these innovations?
Medis is well-prepared for these new challenges. It has all capacities in place to fully support the partners with innovative medicines. So far Medis has successfully launched several breakthrough products for patients suffering different genetic disorders, and is looking forward to bring new treatment options for several unmet medical needs also in the future.