Global economic downturn likely to change face of life sciences industries for years to come, claims Deloitte/EIU report

Curbing costs in response to the global economic downturn, as well as the continuing capital crunch, is likely to have a long-term impact on the life sciences industries, according to a new white paper released by Deloitte Touche Tohmatsu (Deloitte).

Developed in collaboration with the Economist Intelligence Unit, the Deloitte white paper, titled, The Future of Life Sciences Industries: Aftermath of the global recession, is based on an on-line survey of 281 senior industry executives during fall 2009. The report sought to assess the short- and long-term impact of the global recession on the life sciences industries.

Nearly one-third of the executives surveyed see a reduction of R&D spend in the future, and nearly half believe that up to 40% of biotechnology companies will cease to exist in five years.