Intelligent Biopharma

The rise of AI across biopharma

Although there is a high level of innovation in the industry, biopharma companies are facing a complex and challenging environment due to increased competition and research and development research and development (R&D) cycle times, shorter time in market, expiring patents, declining peak sales, pressure around reimbursement and mounting regulatory scrutiny.

As we have shown in our series of reports on ‘Measuring the return from pharmaceutical innovation’, these factors are contributing to an alarming decline in the projected return on investment that large biopharma companies might expect to achieve from their late-stage pipelines, threatening their long-term futures.

Digital transformation could provide a lifeline to biopharma research and development (R&D) and help reverse this trend. Digital transformation will also impact beyond research and development (R&D), as companies look to improve their operational performance, productivity, efficiency and cost-effectiveness across the entire biopharma value chain.

Digital transformation will also impact business models, the development of new products and services, and how companies engage with health care professionals, patients and other customers. Ultimately, digital transformation is the next step in the evolution of biopharma companies. Embracing digital transformation will enable biopharma companies to innovate new products and services, engage customers more effectively and execute processes more efficiently.