THE IMPACT OF THE COVID-19 PANDEMIC ON THE RESEARCH AND DEVELOPMENT PROCESS OF GLOBAL LIFE SCIENCES COMPANIES

Abstract

Objective: The objective was to better understand the level of impact of the Covid-19 pandemic on the research and development process in global life sciences companies. The study was conducted with USA, Europe, and Turkey leaders.

Methods: This study was conducted with twenty functional leaders of leading global life sciences companies thru an online survey. The study was carried out between 2020 and 2021. The results were analyzed by using the Statistical 25 package.

Results: Research findings showed that there had been an impact on the research and development process of the life sciences companies, mainly the productivity and effectiveness. The primary issue was the lack of university collaborations. Although several therapeutic areas were somewhat impacted, cancer was mentioned as the most affected area due to the Covid-19 pandemic. Although the respondents indicated no change was done concerning research and development strategies due to the Covid-19 pandemic, most mentioned employing some new tools, such as remote patient monitoring. Additionally, the majority mentioned that their companies developed a crisis management plan.

Conclusion: The Covid-19 pandemic offered some challenges and opportunities to some life sciences companies. While the major challenge was to continue performing phase III trials, the significant opportunity was to develop vaccines and medical treatments for Covid-19ies.