As the coronavirus pandemic rages on, biopharma companies are being forced to respond to multiple challenges that could derail their existing business plans. Already companies are reporting that, in therapeutic indications not involving COVID-19, their ongoing and planned clinical trials are being interrupted or delayed by the pressures now being imposed on global health care systems.
A comparison of the last three years puts 2019 on top for having brought the most money into the biopharma industry across 15 key therapeutic markets – a total of $299.78 billion vs. $284.7 billion in 2018 and $201.56 billion in 2017. The analyses includes financings tracked by BioWorld and deals and grants that are within the Cortellis database, all covering therapeutic areas included within the corresponding BioWorld Financings Reports for 2019.
A survey of 149 companies by Tufts Center for the Study of Drug Development found more than two-thirds of clinical trial sponsors were using or piloting at least four different data sources in their clinical trials.