COVID-19 Windfalls Carry Pharma Into Stormy Times: Key Takeaways From Scrip 100 And Outlook 2023

Highlights From In Vivo's Annual Industry Ranking And Report

 
• By Eleanor Malone
  
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The past couple of years have generated important growth for the pharma industry thanks to its drugs and vaccines for COVID-19. But with the IRA, high inflation, rising interest rates and chilly public markets, biopharma faces challenges this year. Here, we summarize key messages from In Vivo’s Outlook 2023.

Outlook 2023
stormy times ahead • Source: Shutterstock

Big pharma enters 2023 facing a significant patent cliff that will play out over the next few years. Added to its woes is the US Inflation Reduction Act (IRA), which will allow the US government to negotiate certain drug prices for Medicare from September. With inflation and rising interest rates further increasing the pressures, the year is shaping up to be something of a rollercoaster, according to the annual industry ranking and report Outlook 2023, published by Scrip’s sister publication In Vivo.

In Vivo spoke to three industry experts for their analysis of the year ahead. Key predictions from Fred Hassan, chairman...

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