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Biotech bankruptcies reached a record high in 2023 with over 20 companies announcing insolvency. Financial struggles in a post-COVID-19 economy and rising inflation have adversely impacted the global biotech industry. The company eventually filed for bankruptcy in 2023.
His career highlights include igniting US reimbursement pathways for Prescription Digital Therapeutics (PDT), pioneering value-based collaboration between payers and manufacturers, and introducing groundbreaking biotech and healthtech solutions. His role involves fostering alliances within the pharmaceutical and biotech industries.
Evolving legal and ethical standards , such as end-of-life care, reproductive rights, and genetic testing, also drive regulatory changes in healthcare. Compliance with these regulations can involve significant costs, including staff training, system upgrades, legal consultations, and process overhaul expenses.
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