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Sanofi says the virtual innovation lab it will create with Google will enable precision health care and optimize R&D and commercial operations. Incoming CEO Hudson has been tasked with improving the pharma’s R&D and digital capabilities.
Biopharmas and other life sciences firms risk getting left behind by technology firms if they don't begin addressing patient needs more directly through data-driven technological advances, such as those to aid clinical development or treatment decisions with real-time patient data.
More than 75% of Fortune 500 life-science companies may fall out of that ranking by 2023 amid rising competition from tech giants like Apple, Microsoft and Alphabet, as well as smaller tech players that offer data-driven health services and products that meet the needs of a changing value-based and consumer-driven health-care environment, according to a new Ernst & Young report.
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