The contract research organisation (CRO) completed its “New Health” report analysing the drug development industry’s evolution during what Norman described as a “period of constant change.”
He predicted that the tough pharmaceutical market is going to get tougher as industry adapts to managing relationships with new “constellation” of patient, payer and policy making stakeholders.
Norman also revealed that the focus of drug industry competition seems to be shifting away from capital expenditure and science to data and analytics, particularly when companies are deciding which drugs to take into clinical development and when.
“We expect to see increased information exchange between pharma competitors and payers…to share data around why products fail and what seems to be working,” he explained, adding that while pharma focuses on trials and getting to market, patients and payers are look at quality of life benefits post market.