RD World Index Climbs as Tech Giants Focus on AI Investments
Eli Lilly Leads the Charge with 1,084-Point Gain
The RD World Index (RDWI) has risen by 257 points this week, with Eli Lilly contributing significantly to this upward trend, gaining 1,084 points. Tech giants have been ramping up their investments in artificial intelligence (AI), a move that is expected to impact the pharma research and development (RD) sector.
Traditional Metrics Signal Optimism
Despite concerns about the lagging return on investment (ROI) in pharma RD, traditional metrics such as funding levels, trial starts, drug launches, and RD success rates remain positive. Notably, the projected ROI for pharma RD in 2023 has rebounded to 41%, indicating a return to pre-2022 levels.
Insights on AI's Evolving Role and Data-Driven RD
Industry experts expect AI to play an increasingly significant role in pharma RD, particularly in areas such as drug discovery, clinical trial design, and data analysis. The 2024 pharma insights report will provide updates on AI's evolving role, as well as insights into virtual care strategies and the impact of data-driven RD on the industry.
Investment Growth Despite Plummeting Approvals
Over the past decade, investment in pharma RD has doubled, while the number of new molecular entity (NME) approvals has declined significantly. This disparity highlights the need for innovative approaches to boost RD productivity and improve the chances of success in drug development.
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