Contract Discovery and Analytics for the pharmaceutical, biotechnology, and medical technologies industries.
The Life Sciences industry is dynamic and highly regulated, making it hard for companies to consistently grow revenues and profits, and stay competitive. Experts signal strong demand ahead, but hitting profitability objectives is challenging due to high discounts, price controls, public sector purchasing policies, and the move to value-based care.
It has never been as harder for Life Sciences companies than now. Companies must deal with mandates such as the Sunshine Act, Stark Act, and strict HIPAA regulations which add costs and time to product development and marketing. The cost to develop a new drug is growing, and estimated to average $2.6B¹, and with regulatory and industry pressures on drug prices, there is increasing the financial risk for pharma and biotech companies.
Life Sciences companies are working hard to position themselves for growth and profitability through portfolio adjustments and restructuring, cost-cutting measures, increased focus on high-performing therapeutic areas and geographic markets and targeted deal-making.