Pharma 2020:
Companies will use virtual R&D to increase innovation and reduce commercial deficit
By 2020 the Pharma R&D process may be shortened by two-thirds, success rates may dramatically increase, and clinical trial costs could be cut substantially, according to research launched today by PricewaterhouseCoopers, entitled Pharma 2020: Virtual R&D, which path will you take? New computer based technologies will create a greater understanding of the biology of disease and the evolution of ‘Virtual man’ to enable researchers to predict the effects of new drug candidates before they enter human beings. Along with changes underway in the regulatory and socio-political environment, this will enable Pharma to overcome one of the most fundamental issues it needs to resolve over the next decade.
As outlined in PricewaterhouseCoopers previous report Pharma 2020: The Vision, Pharma is at a pivotal point in its evolution, particularly in relation to R&D. The patents on many of the medicines launched in the 1990s will expire over the next few years, leaving Pharma very exposed and only four out of the top 10 companies have enough products in their pipelines to fill the impending revenue gap.
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Pharma 2020: Virtual R&D - Which path will you take?
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