06Jun

Big Pharma is poised for a financial comeback this year, even as both industry leaders and ambitious upstarts will navigate through choppy waters.

J.P. Morgan analyst Chris Schott wrote in mid-December that 2020 will be a recovery year for the stocks of major pharmaceutical companies. After a year in which the S&P 500 was up 25%, the S&P 500 Pharmaceuticals grew not even half that.

Schott basis his forecast on several new drug launches and significant growth for the category of cancer drugs known as PD-1 inhibitors. He also discounts the possibility of drug pricing legislation, suggesting “there appears to be more headline risk than fundamental risk.”

Meanwhile, a CPHi outlook article discusses 10 trends pharma leaders expect the industry to confront during the year. Artificial intelligence and its application in developing, not drugs or clinical outcomes surprisingly, but in predicting timelines and in compliance and regulatory matters.

Cell and gene therapies (CGT) will likely continue to be one of the focus areas in 2020, while the importance of biologicals will continue to grow. Pharma will increasingly turn to CDMOs to take their research from clinical development through regulatory approval.

Peter Bigelow, president of xCel Strategic Consulting, sees more “transformational partnerships between CDMOs and big pharma” in 2020, as the major companies refocus their traditional methods of operation.

“Whereas in the past Big Pharma has been very transactional and has put driving product costs down as a priority, they are instead looking now at partnerships on baskets of products. This means the CDMOs must operate differently, be longer-term in the way they envision these relationships and they must commit to very high degrees of operational and quality improvement.”

Another prediction, this from Jim Miller, founder and former president of Pharmsource, is that CDMOs will continue to be the targets of acquisition. He expects some of the bigger private equity firms to be attracted to the mid-size CDMOs as will larger, public firms.

Morgan analyst Schott agrees. Rather than more mega-mergers, “We see biz dev pivoting towards bolt-on deals in 2020 with focus on building out existing therapeutic verticals and adding potential mid-2020s launch opportunities.”

Strategic Networking: A Secret Weapon in Job Searching

Networking is more than connecting with other professionals on LinkedIn or collecting contacts; it’s about building relationships that can lead you to your dream job.

Jun 6, 2023

Career Advice From Clinical Research Pros

In an industry with many roles, seek out the one you love, the one where your passion lies.

That’s good job advice for all seasons and all professions, but in this it refers to finding your niche in clinical research.

It’s among a wealth of career advice from industry veterans, published in two parts this month on the ACRP’s Clinical Researcher site. These professionals describe their own career journey, offering up anecdotes and advice for both those new to the field and those looking to take the next rung on the ladder.

In part one, trustees and Fellows of the Association of Clinical Research Professionals share such career counsel as saying “YES! Yes to every opportunity afforded you. The more experience gained, the more useful it will be in your future.”

Sergio Armani, vice president for business development, North America, with Advarra and a trustee of the Academy of Clinical Research Professionals, echoes that advice. He entered the field after 22 years in financial services, so, he said, he had to “keep an open mind, raise my hand to volunteer for as many assignments as I could handle and be willing to learn as much as I can.”

Similarly, Elisa Cascade, MBA, executive vice president with ERT and an academy trustee, advised, “When an opportunity to work on a special assignment arises, take it. In addition to expanding your skill set you will gain visibility to a broader network of people, which in turn may open the door to new career options.”

Part two participants answered a call for veterans to provide career advice, with several describing their own experience explaining honestly and in detail how they came to the job they now have.

Laura Menck admits falling into clinical research, beginning as a back office medical assistant at a practice that did studies to today holding the position of senior manager of clinical operations at Philips.

“Twenty years in and I could not be more proud and happy that I found such a rewarding career!” she says, before providing a series of bullet-pointed suggestions for those looking to enter the field, move between roles or advance in their chosen niche.

Learn about various roles, earn an advanced degree and network, she says. And like the thought leaders in part one, she adds, “Take on stretch goals and assignments.

“Ask your manager if he or she has some task they have just not gotten to yet that you can help with. Yes, you are probably already drowning in your own work, but if you can make time, this can give you an opportunity to demonstrate what you can do outside your usual tasks.”

Passion, too, is important. Says Christine Senn, PhD, chief implementation and operations officer with IACT Health and a trustee of the ACRP, “What I would advise people new to the field is to discuss their strengths and the activities that give them passion with someone else in the field to see what the best fit might be.”

Writing her advice in verse, Joy Jurnack, research program director, Innovo Research and an Academy member, concludes the two parts of the career advice with this:

“Write blogs, publish papers, give lectures galore,

Collaborate with work mates, join committees, share your knowledge some more;

Don’t keep it to yourself, share your newfound smarts with all,

And volunteer! Volunteer! Volunteer cause it’s a ball.”

Photo by LinkedIn Sales Solutions on Unsplash

[bdp_post_carousel]