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A study by MilliporeSigma and the Economist Intelligence Unit reviews growth drivers and approaches to mitigate risk.
Biopharmaceutical executives are optimistic about their abilities to launch new drugs, in the next five years, but nearly one-third voiced concerns about potential regulatory roadblocks, according to a survey sponsored by MilliporeSigma and conducted by the Economist Intelligence Unit. The survey results were released at the 2016 BIO International Convention in San Francisco in early June 2016.
The survey of 250 global biopharmaceutical executives assessed how companies will manage new risks associated with the changing biopharma landscape.
Nearly half of the respondents (48%) are developing or will develop novel therapies, such as gene and cell therapies and 80% are ‘highly optimistic’ about company’s ability to bring new drug products to market over the next five years. Nearly one-third (32%), however, said regulatory uncertainty tops the list of risks that might disrupt their company’s strategy in the next five years. A lack of funding for growth was the second greatest concern (25%) .
The study also examined how new growth strategies, drug product types, and geographic regions are creating exposure to different types of risk and approaches to address that risk. A majority of respondents (70%) believe that new products will increase the importance of risk management “somewhat”, “considerably” or “entirely”.
Survey respondents represented a global audience: 31% from Europe, 30% from North America, 29% from Asia and 10% from the rest of the world. Half of the participants were from biopharmas with less than $500 million in revenues and half from larger players.
The survey report is available for download (registration required).