This is our fourth annual survey of pharma R&D productivity. Last year we noted that there has been a year-on-year increase in R&D productivity to the tune of 46% from 2014 to 2016. (Also see "Biopharma R&D Productivity And Growth 2016: Innovation Performance Improves" - In Vivo, 15 December, 2016.) However, this trend has not continued in 2017, where the overall R&D productivity of the top pharma companies has decreased by roughly 15%. The major driver of this is a decline in the metric that looks at pipeline value versus spending (momentum ranking), while the decrease in the metric that includes products launched within the last five years (long-term ranking) is relatively small by comparison. (See sidebar for a detailed description of the methodology.)
After years of growth, what has contributed to this decline in R&D productivity? To investigate, we looked at the eNPV...
