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The pace at which companies are integrating the sophisticated tools of artificial intelligence (AI) and machine learning (ML) into their drug discovery and development programs continues to accelerate.
The top 100 public biopharmaceutical companies with market caps greater than $1 billion, and excluding big pharma companies, spent a total of almost $12 billion on R&D in the first quarter of 2021, compared to $9.4 billion invested last year. A BioWorld analysis of the quarterly filings of this group found that the 24% year-over-year increase in spending was driven, in part, by companies involved in developing COVID-19 vaccines and therapeutics.
Global regulatory activity in 2021 has risen by 25% over this time last year, but the proportion of the activity associated with COVID-19 has dropped in recent months.
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