GSK, Gunnels Wood Road, Stevenage SG1 2NY
Sponsored by Stevenage Bioscience Ctalayst
The global pharmaceutical market will be worth more than $1.5 trillion by 2023. This represents an annual growth of 3%−6% over the next five years and an attractive area for big investment. Challenged with developing the next generation of therapies from purely internal R&D, global pharmaceutical and biotech companies are increasingly looking to form innovative new partnerships to drive portfolio value and growth. Many new investors are also attracted to enter the market from well-established classical CROs, to giant tech companies. With big ambitions and even bigger monetary resources, companies like Amazon, Google, Apple and Microsoft are poised to make significant moves into the global healthcare market, thereby creating an even more diverse ecosystem.
Currently neither traditional Pharma nor big tech companies have the full end-to-end capabilities to compete effectively in the future healthcare market alone, which has led to an evident and significant increase in their partnerships. These partnership aims to exploit the many new scientific breakthroughs, to empower consumers to take control of their own health, to increase development of personalised therapies, to speed up drug discovery and ultimately decrease the healthcare cost at the global level.
Despite the promise of many benefits for these partnerships, the industry must proceed with caution. The speed of technological innovation means that regulation and monitoring can struggle to keep pace. This could potentially jeopardise patients’ confidentiality, genetic privacy and even their health.
A panel of experts from industry, CROs, medical charities and VCs will share some of their experiences and lessons learned on how these institutions have developed strategies to deal with this evolving landscapes.
Confirmed speakers include: