Introduction
This Ovum study examines top business challenges, IT budget outlook, and spending priorities among pharmaceutical and biotechnology companies in the US, Canada, the UK, France, Germany, Japan, China and India. It is based on the results of Ovum's Business Trends primary research, conducted in Q3 and Q4 2009, with a total of 150 life sciences companies.
Scope
*In-depth interviews with 150 pharmaceutical and biotechnology companies
*Geographic coverage includes: US, Canada, UK, France, Germany, Japan, China and India
*The study focuses on business challenges, IT budget outlook, and adoption rate of data and knowledge management solutions
*Respondents include IT decision-makers such as CIOs and CTOs
Highlights
For the life sciences industry, regulatory compliance is and will always be at the heart of every IT investment strategy. Moving past this, executives are increasingly turning to IT to help optimize business processes. As the end of the recession nears, life sciences companies will focus on completing IT projects that were put on hold in 2009.
With the patent cliff on the horizon, life sciences companies must have robust product pipelines to maintain steady revenue streams. Small pharma and biotech companies are especially under great pressure to develop a successful drug as they are relying on funding primarily from investors, with little or no revenue coming in.
As generic competition increases, pharma companies aim to globalize their brand and increase their market share in the emerging markets. To increase their presence, there is increased M&A activity with local organizations. In addition, pharma companies are outsourcing key business processes as they cut costs and become leaner.
Reasons to Purchase
*Validate your market messaging and positioning in the life sciences industry
*Compare pharmaceutical and biotechnology IT purchasing plans across geographies
*Identify emerging areas of concern for pharmaceutical and biotechnology companies
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