Week of June 10, 2024

Each week we highlight five things affecting the life sciences industry. Here’s the latest.

  • Biopharma companies are increasingly creating inclusive workplaces through employee resource groups (ERGs), with 75% of employers now having LGBTQ+ ERGs, per BioSpace.
  • Despite progress, however, 33% of respondents still perceive discrimination based on sexual orientation, highlighting challenges in achieving full inclusivity.
  • Companies are entering the GLP-1 market with a focus on pets, aiming to replicate the success of human weight-loss drugs.
  • Per Bloomberg, about 60% of American pets are overweight or obese, driving demand for new treatments despite skepticism from veterinarians who prefer traditional diet and exercise interventions over pharmaceutical solutions.
  • The biopharma industry is seeing renewed optimism because of falling inflation and increased funding, improving growth prospects for the sector.
  • Per Fierce Pharma, 73% of health care professionals are optimistic about near-term growth, up from 47% last year, driven by reduced supply chain disruptions and a stable funding environment.
  • Indian contract development and manufacturing organizations (CDMOs) are positioning themselves to capitalize on opportunities created by the BIOSECURE Act, which limits U.S. collaborations with certain Chinese entities.
  • Per BioPharma Reporter, these companies are expanding their capacities and capabilities to meet the increasing demand for biologics and advanced manufacturing technologies from Western pharmaceutical firms.
  • The National Institutes of Health has launched a $30 million pilot program to integrate clinical research into primary care facilities in underserved communities, aiming to address unique health care needs.
  • Per Fierce Biotech, the program will collaborate with existing NIH research networks and community organizations to design and conduct studies, enhancing health care delivery and preventive care.

For more insights in life sciences, check out RSM’s industry outlook.

Source link: https://realeconomy.rsmus.com/5-things-to-know-in-life-sciences-week-of-june-10-2024/ by Amanda Laskey at realeconomy.rsmus.com