2021 LS&HC Horizons - Flipbook - Page 4
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Hogan Lovells
Welcome
Companies in the life sciences and health
care industry, like most companies, navigated
unparalleled challenges in 2020. But unlike other
industries, they had to do so while simultaneously
facing the biggest challenge of all – being at the
epicenter of the global effort to manage, treat,
and prevent further spread of COVID-19. For
that, we first and foremost thank you for your
tireless efforts, determination, and continued
innovation to protect and improve human health.
It is your efforts to make the world healthier, and
our work alongside you that allows us to better
navigate the uncertain, but hopeful future.
The pandemic forced the development and
adoption of new technologies and innovations
resulting in massive investments into virtual
health solutions, telehealth products, and
related cybersecurity measures. It also spurred
new debate over drug and medical device
regulatory standards, as many regulators
permitted emergency use authorizations and
granted temporary waivers for compliance
obligations. One silver lining to 2020 may
be the opportunity for regulators to take the
experience gained from the need for rapid
response, and apply the learnings to find
ways to expedite development and review
processes even after the health crisis subsides.
In the transactional space, companies found
new ways to collaborate virtually, as the need
for cooperation grew. After a brief hiatus in
deal making, indications point to a robust
M&A and partnering market in 2021. Similarly,
stronger alliances were formed between
government, industry, and academia, with
all sectors recognizing the importance of
defeating COVID-19. We advised clients on
how new government initiatives presented new
opportunities, while also educating companies
on the compliance and litigation risks likely
coming to fruition in 2021 as companies
that have taken advantage of the regulatory
adaptability offered in 2020 may find themselves
needing to come into quick compliance with the
requirements that were enforced pre-pandemic.
In addition to the seismic shifts stemming from
the novel coronavirus, life sciences and health
care companies are being affected by unique
issues in each geographic region. In the United
States, a renewed awareness of racial justice
issues helped focus attention on the need to
address health equity and promote diversity in
clinical study populations. Mexico has prioritized
procurement reform, and medicinal use of
cannabis has become a reality. Post-Brexit, the
UK started differentiating from the EU in areas
such as medical device regulation, and companies
started adapting to the new arrangements
under the EU-UK Trade and Cooperation
Agreement. In Japan, a new system of annual
drug price cuts and evolution of their patent
linkage system affected investments. Similarly,
we have been advising clients doing business in
China on important amendments to the patent
law and new expedited drug review programs.
These are just some of the current and evolving
trends that are shaping the future of the
industry, which we discuss in the following
pages. Our global Life Sciences and Health Care
team — comprised of more than 500 lawyers
around the world who support more than
1,000 clients in the industry — stands at the
ready to provide you with creative strategies
for your most promising opportunities and
integrated solutions that protect and support
your business when issues arise. We hope
that you find our view of the horizon thoughtprovoking and look forward to working together,
and hopefully seeing each other, again soon.
