Biotech R&D: a target-rich environment

Realizing return on investment capital amid an explosion of innovation

Drug development today is a tale of two sharply countervailing trends. On the one hand, approvals of new drugs are at twice the historical rate, opening new avenues to intervene in disease; on the other, biotech valuations fell remarkably during 2021, calling into question the ability of many preclinical and clinical stage companies to attract the capital needed to advance their programs.

This report reviews today’s drug research and development landscape and shares how the expanding number and diversity of new drugs across modalities and targets is impacting clinical and commercial performance, development strategy and investment priorities.