New ecosystem report demonstrates the growing importance of partnerships in advancing biomedical innovation.
New report demonstrates the growing importance of partnerships in advancing biomedical innovation
As we mark a full year since COVID-19 was declared a global pandemic, it’s impossible to overstate the significance of collaborations. The unprecedented level of strategic collaborative efforts that have taken place across the biopharmaceutical ecosystem have been central to efforts to ensure efficient development, manufacture and distribution of critical COVID-19 vaccines and treatments. The coronavirus outbreak has brought new attention to the importance of these innovative cross-stakeholder partnerships. A new report from PhRMA looks broadly at the collaborative ecosystem and illustrates biopharmaceutical industry’s long history and vast experience with a diverse breadth of collaborative efforts.
The report Power and Promise of a Collaborative Biopharmaceutical Ecosystem provides a look at the various collaborative partnerships currently taking place across the research ecosystem and healthcare system, playing a crucial role in:
As COVID-19 has demonstrated, the complexity of biopharmaceutical ecosystem – from R&D, and scaling production, to manufacturing, distribution and educating on the importance of biopharmaceutical innovation to public health – means the ability of any one organization or sector to advance alone can be limited. The partnership report emphasizes that, as a result of a growingly complex process, health care stakeholders—including biopharmaceutical companies – are increasingly moving towards strategic intra- and cross-sector collaboration to best address critical biomedical and public health challenges.
Together, these collaborations and partnerships work to deliver new treatments and potential cures to patients, ultimately contributing to improved public health and patient outcomes. Policy and regulatory environments that support and promote these partnerships are critical for these collaborative efforts to continue and flourish.
In addition to providing a snapshot of the diverse array of collaborative efforts currently being pursued across the biopharmaceutical ecosystem, the report evaluates and makes the case for the importance of encouraging policy and regulatory frameworks. An environment that fosters, supports, incentivizes and enables innovative and collaborative efforts will ultimately give way to large-scale groundbreaking progress and biomedical advances for patients. Furthermore, the new report reinforces why policymakers must ensure that these partnerships continue to drive scientific progress and safeguard America’s place as a global leader in biomedical innovation.
Learn more about partnerships in the biopharmaceutical ecosystem and read the full report here. To see the latest on the biopharmaceutical industry’s efforts to beat coronavirus visit www.phrma.org/Coronavirus.
