Innovation, progress in clinical trials, and new breakthrough therapies have been and will continue to be the bedrock of value creation for investors in the biotech sector. We expect the sector will announce strong achievements in 2023, but investors may react with restraint as we have seen in 2022, which led to generally poor stock performance. A continuation of rising interest rates, ongoing Congressional scrutiny over drug pricing, and a subdued financing environment will be just a few of the headwinds the sector must contend with as we move through 2023. This underscores the need for a back-to-basics investor relations strategy that should position companies for the challenges that lie ahead. A well-planned investor relations strategy should include the following:
ICR Westwicke Blog
The ICR Westwicke Blog is designed to deliver information and insights into the ever-changing world of healthcare communications.
While layoffs in the technology sector haunted 2022, the role of Artificial Intelligence (AI) and Machine Learning (ML) and all things digital in healthcare continue to gain traction in the quest to improve patient care and reduce healthcare costs. In fact, AI and ML in healthcare are expected to surpass $20 billion in 2023 due to increasing adoption at record pace. Its application spans from drug discovery/development, a competitive race comprised of both the pharmaceutical and technology industries, to actual clinical use as evidenced in algorithms now used in identifying and better managing disease and in particular, neurodegenerative diseases such as multiple sclerosis, Parkinson’s Disease and Alzheimer’s.
Healthcare continues to change at breakneck speed. Some of that change is clearly linked to effects of the COVID-19 pandemic, but other factors — politics, the courts, research, regulatory decisions, supply chain issues, a looming recession — are poised to have an outsized influence on an industry that has already undergone a radical transformation. What’s in store for healthcare and health policy in 2023? We took a look at a few critical areas.