Six in 10 pharma executives anticipate COVID-19 will ‘greatly improve' business outlook, reveals survey

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29th April 2021 14:42 - Pharmaceutical

Six in 10 pharma executives anticipate COVID-19 will ‘greatly improve' business outlook: A survey of pharma industry executives has revealed that 60% believe that thee business outlook for pharma manufacturing in the coming year and beyond will greatly improve as a result of Covid-19. 

More than 500 industry executives were polled for the CPhI post-pandemic executive pharma survey, which comes ahead of a virtual gathering in May.

Some of the top line findings have been shared ahead of the CPhI Discover (17th-28th May, 2021) – global pharma’s 'largest ever virtual gathering' – including that half the respondents polled believing that it is it is now realistic to localise the manufacture of starting materials (currently 80% are sourced from suppliers in China). This compares to a third who believe that a potential mass move would be 'too disruptive to a complex industry' and 15% saying it would be a 'desirable' move.

The survey also found that there has been an expansion and modernisation of finished dose manufacturing. Almost a quarter of respondents  said they will be investing in 'filling and packaging systems' machinery in 2021, driven by the desire for drug product CMOs/CDMOs to become one-stop shops so they can aid simplifying and streamlining outsourcing as well as overcoming the challenge of filling billions of vaccines.

Another research insight shared ahead of the of CPhI Discover event is that 13% of executives polled are looking to expand their capabilities and invest in large-scale bioreactors and fermenters over the coming year.

Brand Manager at Informa, Nicola Souden, said:

“Our industry survey shows that pharma, ingredients providers, manufacturers and the contract services pipeline have fared well through the last year, but structural changes in the industry and an expansion in the pipeline means demand is growing quickly. In response, we have designed a detailed agenda to explore the biggest opportunities at CPhI Discover.”

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