drug discovery costs for companies by as much as 70%. So, we think that integrating AI solutions that expedite pre-clinical trial processes should provide some padding to offset the high price tag of bringing a drug to market — thus reducing the overall R&D costs for pharma firms in the long run.
— and we predict pharma companies will start acquiring startups to bring these capabilities in-house. The biggest names in pharma are placing their bets on AI for drug discovery startups: San-Francisco-based Atomwise — an AI startup making strides in drug discovery and design — deals with pharma giants Bayer, Merck, and AbbVie.
We know that deep-pocketed pharma companies aren't shy when it comes to acquisitions: Through the beginning of December 2019, pharma and biotech companies spent a record Want to read more stories like this one? Here's how you can gain access: Join other Insider Intelligence clients who receive this Briefing, along with other Digital Health forecasts, briefings, charts, and research reports to their inboxes each day. >>
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