Trump’s reign, what will this mean for clinical trial supply?
Prior to the U.S. election, the clinical supply industry maintained focus on challenges such as forecasting and comparator sourcing to reduce delays & interruptions as well as eliminate excess waste and emergency remediation. However since the U.S. election in November, a major question roaming around the industry is how Trump’s term will affect clinical supply; is this a sense of relieve because Clinton would have cracked down on prescription drugs, or anxiety amongst clinical supply experts as Trump’s actions are unpredictable.
The surprising victory created instant impact as global markets plunged dramatically including firms in clinical supplies; however the storm calmed and transformed into a substantial rise as the NASDAQ biotech index finished above the initial falling figure. These results provide a calming measure for now, but as the time draws closer, it is unknown how Trump will impact the clinical supply industry.
Drug prices – ‘Getting away with murder’
The pressure that remains on pharmaceutical firms has taken a further hit with the President elect expressing the pressure he is going to impose on drug prices, as he aims to implement the protectionist approach to the economy. What will this mean for supplies coming into the country from abroad and will we see more trials directed in the U.S.?
Furthermore, in his first press conference, he mentioned a bidding process will be implemented for government business in regards to drug purchases. Consequently, clinical supply will be affected, causing major alterations in the business environment, will this damage businesses or be a driving force for businesses to further explore cost effective methods to reduce costs?
The influence of Twitter:
Furthermore, the influence of Twitter has amplified Trump’s opinions; its dramatic impact can be demonstrated with the automobile industry in recent months. With this in mind, will the president elect make his point on the clinical supply industry via the same channel, with the public’s support, how will this affect the pharma industry?
As this becomes a major discussion point, this year’s Clinical Trial Supply Southeast conference will provide you the opportunity to come together with peers in the region to discuss the issue, along with challenges which have floated in clinical supplies prior to the election result. See you in May!
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