The biopharma industry is undergoing a dramatic transformation fueled by technological advancements, talent shortages, evolving regulations, and a growing emphasis on sustainability. These forces are reshaping the landscape of drug discovery, development, and delivery, creating both opportunities and challenges for industry players.
Emerging Technologies Transforming the Industry
Artificial intelligence (AI) and machine learning are revolutionizing biopharma, enabling faster and more efficient drug discovery and development. AI is capable of evaluating massive datasets in record time, providing powerful predictions and reliable information from the inputs. Machine learning empowers AI to steadily improve its processes over time from the tasks it performs. AI can:
- Identify novel proteins or genes that can counteract diseases. In 2021, an AI system predicted 330,000 protein structures.1
- Generate new drug molecules. In 2020, Exscientia put an AI-designed drug molecule into clinical trials for the first time, and in 2023, generative AI created and validated de novo antibodies in silico.1
- Produce high-fidelity molecular simulations or create digital twins to supplement and enhance drug trials.
Morgan Stanley Research predicts that drug development platforms powered by AI technology could generate 50 novel therapies in a 10-year period, creating a $50 billion opportunity in the pharmaceutical industry. AI-powered data analytics could reduce preclinical development costs by up to 40%, saving enough money to fund development for four to eight novel molecules.2
Navigating the Complex Regulatory Landscape
Biopharma companies exist in a complex regulatory landscape that demands detailed oversight and robust documentation at every stage of development, testing, and manufacturing processes. Globally, there are five distinct regulatory bodies overseeing public health:
- The U.S. Food and Drug Administration
- Australia’s Therapeutic Goods Administration
- The European Medicines Agency
- Health Canada
- Japan’s Pharmaceuticals and Medical Devices Agency
Pharmacovigilance guidelines across the globe demand careful evaluation of a drug’s performance, effectiveness, and risks across the entire process, including preclinical development, clinical trials, product approval, and postmarketing surveillance. Biopharma companies must properly collect and report adverse effects data, evaluate its relevancy, and implement appropriate responses at every stage.
Though the stringent regulations for drug research and production require a significant investment, governments around the world are enacting regulatory changes that demand lower-cost production. The U.S. is implementing government-mandated price controls3; Germany recently passed a regulation stating that new medicines must cap their price to match patent-protected comparators, and the European Union is proposing a reform that would limit new drugs to a shorter two-year exclusivity period.4
These and other stringent regulatory requirements mean that biopharma companies need experienced staff members who know how to skillfully navigate the ever-changing regulatory landscape to ensure compliance while keeping costs low. Medix’s expertise in biopharma staffing can streamline the hiring process so employers have easy access to skilled employees.
Addressing Talent Shortages and Retention Challenges
By 2030, the pharmaceutical and life sciences industry is expected to have a 35% talent deficit.5 Even now, a massive 83% of pharmaceutical and life sciences companies struggle to find skilled talent, and filling a non-executive role typically takes two or three months. Companies routinely experience a shortage of data scientists and analysts, regulatory affairs specialists, project managers, and clinical research coordinators and managers.
Biopharma industry trends are leaning heavily toward tech-based solutions for some of these shortages. Emerging technologies in biopharma, such as advanced production technologies, can streamline routine tasks in drug trials, increasing employee productivity so companies can get more done with fewer individuals. Digital manufacturing and analytics technologies could reduce conversion costs by as much as 80% while doubling asset utilization and labor productivity.6 Electronic documentation systems enable the seamless flow of information across all stages of development, trials, planning, and production.
These advancements can help smaller teams accomplish more, but they also create a need for a new kind of talent acquisition in biopharma. There’s a growing need for AI engineers, cybersecurity analysts, digital transformation leads, and data scientists who can properly design, utilize, and optimize the tech-forward advancements driving the evolution and development of the biopharmaceutical industry.
Medix’s biopharma staffing solutions help companies streamline the process of attracting, recruiting, and retaining talent. When Medix partnered with a well-established life sciences company on the West Coast, they were able to fill 15 open positions in just a month, expertly sourcing skilled medical device specialists to support increased production that doubled the company’s output. Medix targets not only industry experience and expertise, but also cultural fit, for enhanced talent acquisition in biopharma that’ll improve employee retention and deliver lasting results.
Sustainable and Ethical Considerations in Biopharma
The biopharmaceutical industry is held to high standards when it comes to ethical and sustainable operations. These companies must find effective ways to align with evolving stakeholder expectations and maintain processes and procedures that prioritize eco-friendly practices, transparent supply chains, and patient-centric drug development.
The pharmaceutical industry has a significant environmental impact in the form of air pollution, waste disposal, plastic usage, and carbon dioxide emissions. The industry’s CO2 emissions alone are 13% higher than the car industry7, and it generates 300 million tons of plastic waste each year.8 Fortunately, a Deloitte Center for Health Solutions survey revealed that 64% of biopharma supply chain executives are actively working to minimize their impact on water quality, 59% are working to source sustainable raw materials, and 57% aim to design a sustainable value supply chain.
Regarding the supply chain, biopharma companies are facing a growing demand for transparency. Supply chain transparency can help expose unethical practices, identify counterfeit drugs, protect cross-border commerce, and proactively address supply shortages. Though Tier 1 transparency is robust, visibility decreases further down the chain, as does market regulation. Gaining more detailed insights into the supply chain end-to-end can resolve many ethical concerns in the industry.
Utilizing patient-centric drug development programs can address some of the industry’s ethical concerns as well. This approach shines a spotlight on the patient experience to make the individual’s voice heard. Forming strong partnerships with patient organizations, caregivers, and clinicians can help drive innovation in this area.
Take the Next Step: Partnering With Medix for Biopharma Talent Solutions
Medix has over 20 years of industry experience providing staffing solutions for pharmaceutical and biotechnology companies. With over 3 million specialized candidates in our staffing pool, we can connect you with the skilled professionals you need throughout the research and development life cycle. We streamline talent acquisition in biopharma for prompt results, improved fill rates, and increased retention. Contact us now to learn more about how we can take your staffing processes to the next level.
