The patient affordability gap in developed markets would be an estimated $300B by 2028.
Almost 30% of US patients report not taking their medicine as prescribed due to cost.
R&D has a pivotal role to play
The cost of bringing a successful medicine to market is between $2.6B and $6.7B including the cost of capital and cost of failure.
The rising ratio of R&D spend per each new treatment approved, has increased 7% per approval annually over the last ten years.
Biopharma should intensify their focus on three strategic plays: New Science portfolio, digital and data-led research, and faster, smarter development.
Driving billions to millions
Three strategic plays suggest savings of $1.2-1.7B per successful treatment.
Accenture’s model suggests it will create additional revenue opportunities of $150-450M.
Realizing value from transformation
Establishing enterprise-level strategy, budget, and oversight for strategic plays and enablers through redistribution of budget for the enterprise and tracking of value realization.
Creating asset-centered teams with the objective of delivering business and patient value. Companies will need to evolve how teams operate and align incentives to asset outcomes.
Assessing the current maturity of enabling capabilities and making coordinated cross-enterprise investments to be able to scale the strategic plays.
Biopharma companies are already in innovation mode. Now is the time to shift strategy and generate a new “future-fit” R&D organization.