This report analyzes the state of pharmaceutical R&D at the end of 2020, a year dominated by the COVID-19 pandemic. It shows that while early-stage pipeline growth slowed, late-stage development remained resilient, and clinical trial activity quickly recovered after early disruptions. Oncology and rare disease trials continued to expand, with increased use of virtual and decentralized approaches. The report highlights historically low development productivity driven by complexity and long timelines, but notes short-term improvements due to simplified trial designs. R&D funding rose significantly, venture capital surged, and record numbers of novel active substances were launched, reinforcing the sector’s adaptability under crisis conditions.

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