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5 things to know in life sciences: Week of March 18, 2024 

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Life sciences 5 things

Each week we highlight five things affecting the life sciences industry. Here’s the latest.

Revolutionizing surgery: Nvidia and Johnson & Johnson’s AI collaboration

  • Per CNBC, Nvidia and Johnson & Johnson are collaborating to develop new artificial intelligence applications for surgery, aiming to enhance surgical procedures from pre-op to post-op by integrating AI within devices and platforms.
  • The partnership focuses on using AI to analyze surgical video and automate documentation post-procedure, potentially transforming surgical education and decision-making by making surgical videos more accessible and analyzable for real-time support and training.

Expanding horizons in women’s health

  • Per Medtech Insight, President Biden signed a comprehensive executive order to enhance women’s health research, marking the most extensive executive action in this area to date.
  • The executive order aims to bridge research gaps in women’s health, particularly focusing on conditions prevalent or intensifying post-menopause, such as rheumatoid arthritis, heart attacks and osteoporosis.

EU’s strategic push for biotechnology and biomanufacturing innovation

  • The European Commission has unveiled a comprehensive package of actions aimed at advancing biotechnology and biomanufacturing within the EU, reports EFA News.
  • The proposed actions include stimulating research and innovation, facilitating the use of research infrastructures, and stimulating market demand for bio-based products.

New graduates face biopharma job market challenges

  • Per BioSpace, new graduates are encountering significant difficulties entering the biopharma industry, with increased competition and fewer job openings.
  • The downturn follows a period of layoffs and reduced research investment, leading to a surge in applications per job and a decline in available positions.

Schott Pharma’s strategic expansion with facility in North Carolina

  • Schott Pharma is investing $371 million in a new facility in North Carolina to enhance its production of glass and polymer syringes, addressing drug shortages and supporting the growing demand for GLP-1 and mRNA therapies in the U.S., reports Fierce Pharma.
  • This expansion will mark the first U.S. site capable of manufacturing refillable polymer syringes for mRNA medications, aiming to triple its market offerings by 2030.

For more insights in life sciences, check out RSM’s industry outlook.

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About Justin Culbertson

Justin has more than 10 years of experience serving publicly traded and privately held companies through technical accounting and financial reporting services. He focuses on clinical research organizations and similar service organizations in the constantly evolving life sciences industry. He has previously advised clients in the areas of new standard implementation, external audit, internal audit, risk management, mergers and acquisitions, process design and improvement, and internal and external financial reporting. He is also a member of RSM’s life sciences national industry leadership team.

In May 2021, Justin was selected as a senior analyst in RSM’s cutting edge industry eminence program, which positions its senior analysts to understand, forecast and communicate economic, business and technology trends shaping the industries RSM serves.

About Amanda Laskey

Amanda is a senior manager in the tax services practice in the New York City office of RSM US LLP, focusing on clients within the life sciences industry. In addition, she is a member of the firm’s Industry Eminence Program and works alongside RSM’s chief economist and other senior analysts to understand, forecast and communicate economic, business and technology trends affecting middle market businesses. She has nearly 10 years of experience assisting clients with claiming research and development tax credits at both the federal and state levels.

About Brian Winne

Brian Winne is a senior manager in RSM’s audit services focused on the life sciences industry. He was selected for the firm’s Industry Eminence Program in 2022 as a senior analyst covering the life sciences industry, working alongside the firm’s chief economist and other program participants to analyze trends and themes affecting life sciences companies in the middle market.

Brian has experience providing audit and business advisory services to his clients. He provides diverse accounting and compliance services to public and private clients in a variety of industries with a focus on biotech, life sciences and technology companies.

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