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Biopharma 2020: A landmark year and a reset for the future

Biopharma in 2020 has shown what it can achieve when it works at its best. How can the industry build on this renewed sense of purpose in the years ahead?

McKinsey biopharma 2020

3 Overarching trends
  • Operating under a spotlight - expectation of innovation
  • Navigating protracted economic uncertainty - COVID-19 recoveries
  • Embracing the flexibility and convenience of the digital world

10 Critical themes
  • Harnessing the power of science - external engagement (especially public)
  • Adopting a new model for drug development - how to accelerate to meet expectations
  • Surging in digital, data, and analytics - more ambition greater urgency
  • Investing in enterprise technology - turning away from the sunk costs of legacy technology pre-2019
  • Scaling up the next wave of innovation - are cell and gene therapies at the same stage biologics were in the 1980s?
  • Recognizing China's growing importance in opportunity and innovation - huge growth in market capitalization
  • Leveraging partnership as a competitive strength - finding innovation outside the walls of the company
  • Shaping a compelling environmental, social, and governance (ESG) agenda
  • Playing a part in preventing future healthcare crises - consider antimicrobial resistance, future outbreaks
  • Rethinking talent and leadership - more could be done remotely

Source: www.mckinsey.com