Biotechnology in Thoughts from the Centre
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By Krissie Ferris, Research Analyst, Centre for Health Solutions
This is my last week in the Deloitte Centre for Health Solutions, my home at Deloitte for almost two years. I'm not moving far though as I’m joining Deloitte’s Technology Digital Risk (TDR) Public Sector Health team, where I’ll be working with clients across the NHS and the wider healthcare industry to digitise ways of working and to help realise the huge opportunities for operational efficiencies and improved patient outcomes that can be enabled through technology. Having started my career in the NHS, I’m excited to start this new chapter and bring with me the knowledge and skills I’ve developed in my research role at the Centre. This blog reflects on my fabulous time at Deloitte so far and shares some of the reasons I’m looking forward to joining the health team.
By Jonathan Fox, Managing Director, Deloitte Consulting US, and Hanno Ronte, Partner, Monitor Deloitte UK
Let’s talk about trust, specifically, consumer trust in biopharmaceutical (biopharma) manufacturers. Why do consumers trust or distrust biopharma companies? What do consumers think biopharma should do to increase trust? Can companies use digital capabilities to build, or in some cases rebuild, consumer trust? Why is trust important? These were some of the questions we discussed at a digital leader’ roundtable event at LSX’s World Congress USA event which Deloitte was a sponsor. This week’s blog provides our personal take on the key takeaways to emerge from that discussion.
By Dr Maria João Cruz, PhD, Assistant Manager, Centre for Health Solutions
Following the launch of our eleventh annual report ‘Seeds of change: Measuring the return from pharmaceutical innovation 2020’, our UK and US Life Sciences R&D lead partners, Colin Terry and Neil Lesser, hosted a webinar with R&D executives from Pfizer and Novartis to discuss R&D productivity. The discussion also covered the impact of the COVID-19 pandemic on productivity. This week’s blog covers the main takeaways from this insightful discussion that resonated the most with me.
Integrating climate commitments into Pharma’s DNA: Good for business, the environment and public health
By Emily May, Research Analyst, Centre for Health Solutions
Last week, our Life Sciences & Healthcare UK leader James Gregson moderated a Reuters’ webinar, Pharma’s climate goals: The roadmap to delivery, with leaders from AstraZeneca, Roche and Health Care Without Harm. The discussion focused on the current pharma sustainability landscape and how to collaborate, accelerate and deliver climate commitments and embed them into pharma organisations’ DNA.1 Healthcare’s carbon footprint is estimated to have increased by 40 per cent since 1990 providing the pharma industry with an opportunity and responsibility to make a real difference. While there are promising signs across the sector of an increased willingness and commitment to counteract climate change, including adopting a more stringent timetable by which to meet carbon net-zero goals, the panel discussion and the focus of this blog is whether the pace of change is advancing fast enough and what more do companies need to do?
By Dr Maria João Cruz, PhD, Assistant Manager, and Emily May, Research Analyst, Centre for Health Solutions
Each year, Deloitte produces a report exploring the outlook for the life sciences sector. This year’s report, 2021 global life sciences outlook: Possibility is now reality, sustaining forward momentum, explores the many ways COVID-19 has accelerated change for the life sciences and MedTech sectors and what can be reimagined and made better. As a result of the pandemic, novel technologies that were expected to advance over a decade were adopted in a few months, weeks, and sometimes, even days and many organisations embraced this unprecedented pace of change. This week’s blog covers highlights from the report, with a specific focus on how sustaining and institutionalising new ways of working, collaborating and operating digitally, can help companies succeed and contribute towards a more compassionate and equitable world.
By Dr Maria João Cruz, PhD, Assistant Manager, UK Centre for Health Solutions, and Sonal Shah, Senior Manager, US Center for Health Solutions
This week we launched Seeds of change: Measuring the return from pharmaceutical innovation 2020, the 11th report in our series on biopharmaceutical (biopharma) R&D. Since 2010, we have provided insights into the state of biopharma R&D by tracking the returns that leading global biopharma companies might expect to achieve from their late-stage pipelines. While the past few years has seen an increase in breakthrough advances in science and technology, the growing complexity of development and longer cycle times have reduced the average internal rate of return (IRR) for the cohort of companies covered by our research and placed mounting pressures on the industry. In addition, over the past 16 months, the search for treatments and vaccines against the COVID-19 virus have galvanised innovation at an unprecedented pace and scale. At the same time, many non-COVID-19 clinical trials have been delayed or even halted. This week’s blog explores our 2020 report findings and how companies can realise a productive future for drug development.
By Emily May, Research Analyst, and Karen Taylor, Director, Deloitte Centre for Health Solutions
Biosimilars are biological medicines made or derived from living organisms and comprise complex molecules that are highly similar and therapeutically equivalent to an approved reference biologic. As original biologics lose their patent protection, companies can develop biosimilar medicines in a shorter time frame and price them at around 20-30 per cent lower.1 The increased competition generated has the potential to deliver significant savings to healthcare systems. At last month’s Westminster Health Forum on ‘Priorities for biosimilars in the NHS’2 we discussed biosimilar competition, cost-effectiveness and access. This week’s blog summarises our related research on the benefits, market position and future implications of biosimilars for healthcare stakeholders.
By Karen Taylor, Director, and Maria João Cruz, PhD, Assistant Research Manager, Deloitte Centre for Health Solutions
Trust is critical for the biopharma industry, from influencing their chances of gaining and maintaining customers to their ability to recruit talent. Consumer’s trust in biopharma also gives the industry the incentive to innovate to provide life-saving therapies. Yet, biopharma still ranks as one of the least trusted industries, even though consumer polls show that the COVID-19 pandemic has helped improved trust. In January 2021, Deloitte’s US and UK Centres for Health Solutions conducted consumer research, using digital focus group discussions in four countries (the US, UK, India and South Africa) seeking to answer crucial questions around consumer trust in pharma. This week marks the launch of our research report, Overcoming biopharma’s trust deficit: Why people mistrust the biopharma industry – and what to do about it, and this blog highlights our take on the report and what companies can do to build and maintain trust.
By Dr. Maria João Cruz, PhD, Assistant Research Manager, Deloitte Centre for Health Solutions
This week marks the launch of the fifth report in our Intelligent biopharma series, which highlights the role of artificial intelligence (AI) in accelerating and driving digital transformation across the biopharma value chain. This report, Intelligent drug launch and commercial: Optimising value through AI, focuses on how companies can use AI to radically change and improve drug launches and their commercial models. The report also reflects on the challenges and disruptions caused by the COVID-19 pandemic and the response of commercial teams, including adapting new marketing and engagement channels to meet the needs of the different stakeholders.
By Leena Gupta, manager, Deloitte Center for Health Solutions, Deloitte Services, LP
Next week will mark a full year since the WHO declared COVID-19 a pandemic. Since then, over 116 million cases have been reported globally and around 2.6 million people have lost their lives.1 In addition to its mounting human and societal impact, COVID-19 has significantly impacted most businesses and sectors, including the biopharmaceutical (biopharma) industry. This week, we share a blog by our colleague Leena Gupta, Manager at the US Center for Health Solutions, which explores how the pandemic has impacted biopharma’s various functions across the value chain and the strategies that have been adopted to help the industry respond and, ultimately, thrive. While Leena’s blog and research focussed on primarily on US policies, there are wider lessons that all geographies could benefit from. Over to Leena.