Outlook 2024

After a year of revising and opening up its regulations for new drugs in 2023, Japan is aiming to add more reimbursement pricing premiums for innovative medicines in 2024, while cautiously discussing other detailed revisions to regulations and the pricing system.

“A lot of companies are hurting because of the higher interest rates,” one major CEO observed recently, summing up a year which saw little headline-grabbing news on the M&A front for generic and biosimilar sponsors.  

In Vivo caught up with Benedikt von Braunmühl at the recent BIO-Europe conference in Munich, Germany, to discuss his first six weeks as CEO at Rentschler Biopharma and the biggest trends impacting contract development and manufacturing organizations (CDMO).

With many medtechs restructuring for core growth in the post-pandemic era, Abbott relied on organic growth in 2022 to move to the top of the global medtech ranking. The strength of the US dollar was not kind to companies reporting in local currencies.

Drugmakers quickly adopt low-impact AI/ML models in quest to eventually automate manufacturing processes. Already, they are learning a lot about how these models can support their operations. One finding: innovative change management approaches may be required to unlock their full potential.

Pfizer dominated the Scrip 100 rankings of the top pharmaceutical companies in the world based on full year 2022 pharmaceutical sales, driven by its COVID-19 success.

Environmental demands, the evolution of care models, new delivery technologies and AI tools are influencing how medtechs must approach innovation.

New markets, a patent cliff, an M&A rebound and clinical trial catalysts. How will it all play out for the biopharma sector in 2024? 

Pfizer held the number one spot on the Scrip 100 on the strength of its COVID-19 products, while some others faced challenging financial comparisons in 2022 because of COVID-19 headwinds.

Nucleic acid-based therapies are poised to revolutionize medicine – just as antibodies did thirty years ago.