The COVID-19 pandemic led to a sudden surge in R&D activities across the world. Both small and large pharmaceutical and biotech companies were engaged in tremendous efforts to either develop new molecules or repurpose existing therapies as potential drugs for COVID-19 treatment.
The trend is likely to continue with small-to-medium-segment and emerging biopharma participants introducing novel therapies across various indications, primarily oncology, infectious diseases, and neurology. Per Pharma Intelligence's annual R&D review, global non-clinical and clinical pipelines have grown by leaps and bounds--more than 10,000 molecules were in preclinical development and about 6,000 molecules were in clinical development as of January 2022.
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