Senior management of biopharma companies across North America, Europe and the Asia Pacific (APAC) region were more optimistic about the COVID-19 pandemic’s impact on annual revenue in Q3 2020 compared to Q1, according to a recent survey by GlobalData.
Fiona Barry, Pharma Analyst at GlobalData, comments, “Biopharma executives and other senior staff were more likely to predict positive revenue forecasts and less likely to issue negative forecasts in Q3 compared to Q1. North America and Europe were significantly more optimistic in Q3, while APAC respondents showed a smaller but noticeable increase in revenue predictions. The rest of the world has also increased revenue predictions, although this was based off a small sample size – so the strength of this finding may be limited.”
GlobalData’s survey found that employee safety remains the primary business concern across all geographies, followed by the pandemic’s impact on supply chains.
Barry continues, “Companies with marketed drugs were more concerned about employee safety, as marketed drug companies have more staff than pipeline companies and a higher proportion of sales and manufacturing staff. Marketed drug companies were also concerned about supply chains, as marketed drugs are made and distributed in higher volumes than preclinical or clinical batches.”
No marketed drug companies expressed concerns about raising money in Q3, which shows a more optimistic view than in Q1.
Barry adds, “This optimism is a response to investors’ strong appetite for pharma companies, fed by low interest rates coupled with stock markets rallying after an initial downturn at the start of the pandemic.”