The COVID-19 pandemic has thrown multiple operational and financial challenges for organisations and businesses across the world.
GlobalData has conducted a survey to assess the primary concerns for pharmaceutical businesses related to the COVID-19 outbreak in Q1 and Q3 2020.
Primary concerns for pharmaceutical businesses related to the COVID-19 outbreak
Analysis of the survey results shows that employee safety remained the primary concern between Q1 and Q3 and the concern has only increased.
A majority 21% of the respondents opined that employee safety was their primary business concern in Q1, which increased to 23% in Q3.
Impact on supply chains was the next biggest concern as opined by 20% in Q1 and 19% in Q3.
While 16% of the respondents opined that clinical trial disruption was the primary concern in Q1, the percentage declined to 15% in Q3. Concerns over CRO disruptions increased in Q3 to 12%, from 10% in Q1.
Money raising was considered as the primary concern by 10% of the respondents in Q1, but declined to 9% in Q3. Respondents considering business development as a primary concern increased from 8% in Q1 to 9% in Q3.
Another 7% voted that medical meeting closures were the primary concern in Q1, which declined to 4% in Q3, while 6% voted for sales representatives’ access to physicians as the primary concern in Q1, which declined to 5% in Q3 and 2% listed other reasons as their primary concerns in Q1, which increased to 3% in Q3.
The analysis is based on responses received from the Pharmaceutical Trade and Supply Chain Survey fielded between 07 July and 30 July 2020.