Nearly half of life science companies plan to focus on “breakthrough products and niche markets” in order to mitigate R&D risk, according to a survey by Deloitte Touche Tohmatsu and the Economist Intelligence Unit. The survey is based on responses from 360 life science industry executives from healthcare services (23% of respondents), pharmaceutical R&D (22%), biotech (11%), pharmaceutical manufacturing (11%), medical devices (9%) and contract research (6%). Of those surveyed, 41% plan to mitigate R&D risk through partnerships, 37% plan to respond by outsourcing noncore competencies, while 34% plan to respond by spending more on R&D. Asked to specify in what area they expect outsourcing to reduce their risk most significantly over the next 10 years, 23% responded manufacturing, 18% responded research and 15% responded development.

Source: Deloitee Touche Tohmatsu