“New Science” is Leading Growth While Changing the Market Dynamics of the Biopharma Industry, According to New Research from Accenture
Summary
This ‘New Science’ is filling an unmet need to advance the standard of care, and Accenture research found that companies that are leading in New Science are investing six to seven times as much money — US$250 million annually or more — in digital, data and genomics than their peers to develop more precise treatments and interventions that improve patient outcomes. “This is weakening investor confidence in the industry’s future earnings, indicating it is facing compressive disruption where a series of innovations, macroeconomic factors and other changes combine to squeeze profits over a decade or more. The good news is there is an exciting new growth engine where science is combining with novel ways of using technology to discover, develop and deliver much more targeted and effective treatments. Contrary to conventional wisdom, the research also found that by adopting a New Science approach, a company is up to 50 percent more likely to obtain Probability of Technical and Regulatory (PTRS). “While New Science can carry a higher price tag than traditional medicines, our research shows that many regulatory bodies recognize the profound impact these more specialized treatments have in improving the standard of care for patients,” Henderson said.