A global pandemic will always shift our perception of reality and of what matters, serving as a brutal and unyielding reminder of the fragility of our physical and mental health. In the Covid-19 pandemic, the life sciences industry answered the call, saving countless lives in an unprecedented deployment of resources to create a vaccine. Yet, the pandemic did not create the industry, and Covid-19 was not the first illness - nor the last. In 2019 32% of Americans had a positive view of the pharma industry, ranking it the most negatively viewed industry after tobacco and the government. Today, 50% of people claim to have a more positive view, which accounts for a fast and radical change. In this report, we analyze the industry’s true contributions to society across the U.S. and Canada, looking at the successes but also the price scandals and other accusations that have been brought against the industry over the decades. Our research is supported by nearly 100 interviews with policy makers, industry associations, think tanks, as well as big and small pharma and biopharma companies alike.
This is an unprecedented time for the life sciences. Innovation, policy and funding are making unimaginable breakthroughs a reality. AI is accelerating drug discovery and development processes; blockchain technology posits itself as a firm option to tackle the use of counterfeit medicines and substantial drugs; mixed reality (MR), virtual reality (VR) and augmented reality (AR) are being explored as a groundbreaking tool for research, manufacturing, and education. Digital therapeutics are delivering evidence-based interventions using software to prevent, manage or treat both physical and mental conditions, while curative therapies such as gene and cell therapies are revolutionizing our way of dealing and understanding chronic diseases. Life sciences is an industry that touches everyone’s lives, one way or another - tune in in March to find out exactly how.
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