Event: Discussion on the Struggling Pharmaceutical Sector
In a recent webinar hosted by BioSpace, industry experts discussed strategies for maintaining drug development quality amidst the financial challenges posed by tightening venture funding in the post-COVID era. The webinar, which featured senior leaders such as Marina Galvani, Vice President of Scientific Strategy, Drug Development at Evotec, and Josh Gillum, VP of Business Development at Evotec, provided insights based on their extensive experience in the field.
The webinar addressed the need for efficiency and integration in drug development processes, with experts emphasizing that these are now non-negotiable in the current climate. Integrated drug development strategies, which combine development, regulatory, and commercial considerations earlier in the pipeline, were highlighted as a way to streamline workflows and reduce redundant costs. Speakers encouraged leveraging cross-functional expertise to identify and eliminate inefficiencies throughout the drug development lifecycle.
Balancing budget and quality was another central theme of the webinar. The need to balance cost-cutting with quality assurance was discussed, including rigorous prioritization of projects to focus resources on those with the highest potential for patient impact and market success. Maintaining quality under financial pressure requires ongoing review and optimization of internal processes, including clinical trial design, data management, and manufacturing. Real-world data and analytics were mentioned as tools to support decision-making and reduce unnecessary expenditures while ensuring robust evidence for regulatory submissions.
The adoption of technology and innovation was also a key topic, with artificial intelligence (AI) and digital tools identified as necessities for overcoming long R&D cycles, patent bottlenecks, and overwhelming literature reviews. The use of real-world evidence (RWE) and AI-powered analytics can help uncover clinically meaningful insights from unstructured data, accelerating development and reducing costs.
Industry collaboration and experience sharing were also encouraged as a means to collectively raise standards and mitigate risks. Sharing lessons learned across the industry—especially on navigating regulatory, financial, and operational hurdles—was seen as vital for navigating the current challenging environment.
Marina Galvani, who has a specific expertise in scientific strategy for drug development, shared her insights on integrated drug development during the webinar. Josh Gillum, who has experience leading 16 INDs through to multiple mid-phase clinical trials, provided valuable insights based on his practical experience.
The webinar was interactive in nature, allowing for active participation and discussion among the industry experts. It was available to watch, with an option to register for viewing. For detailed methodologies, specific case studies, or step-by-step frameworks, viewers are directed to watch the full webinar recording.
BioSpace is a company known for providing news, insights, and resources in the life science and healthcare industries. By hosting this webinar, they continue to demonstrate their commitment to supporting the industry during these challenging times.
- During the webinar, experts suggested that integrated drug development strategies, which incorporate development, regulatory, and commercial aspects early in the pipeline, could help reduce redundant costs and streamline workflows, citing the need for cross-functional expertise to identify and eliminate inefficiencies throughout the drug development lifecycle.
- Balancing quality and finance was another topic broached in the webinar, with representatives emphasizing the requirement to prioritize projects based on their potential impact on patients and market success, while maintaining quality under financial strain necessitated continuous assessment and optimization of internal processes, such as clinical trial design, data management, and manufacturing, using real-world data and analytics to lower costs without sacrificing robust evidence for regulatory submissions.
