McKinsey January 9, 2025
Rapid advancements in science and technology are challenging pharma and biotech companies’ approaches to talent. What R&D skills do they need today, and how can they sustain this workforce?
We are in a moment of vast potential in life sciences—of diversified investments, breakthrough discoveries, and rapid expansion of therapeutics into new modalities and platforms. And AI is increasingly enabling data-driven decision-making across the product life cycle, from AI-supported drug candidate selection to real-time clinical trial site monitoring.
However, overall industry productivity—whether measured in terms of speed, cost-effectiveness, or ROI—has been stagnant for decades. While there are undoubtedly multiple causes of that stagnation, our experience suggests one cause is that biopharma has largely failed to reinvent its talent model to meet...
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