Big tech incumbents are moving into healthcare, tackling the many gaps in this industry. And their recent efforts suggest that revamping the pharma sector may be one of their top priorities. We take a closer look at these initiatives.
The line between technology and healthcare is increasingly blurred.
Tech companies are leveraging their strengths in data and user-friendly platforms to create new solutions in healthcare — and the $780B pharmaceuticals industry in particular stands to be strongly impacted, as major tech players look to transform many of pharma’s traditional functions.
As a result, new synergies are emerging, and pharma companies are reacting through partnerships, investments, acquisitions, and bolstering their own in-house capabilities. For example, pharma giant Roche acquired oncology data platform Flatiron Health for $1.9B in 2018, and AstraZeneca partnered with drug discovery startup BenevolentAI in April.