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While advancing medical treatments worldwide, the rapid pace of innovation in the healthcare sector has brought about cost and productivity challenges for the pharmaceutical and biotech industry. Life Science organizations are faced with steadily rising research and development (R&D) costs and an increasing squeeze on revenues. For each new treatment, R&D expenses have roughly doubled every nine years and are forecasted to continue to grow exponentially for years to come. On the other hand, payers are forcing outcome-based models for innovations, while revenue from existing portfolios are under mounting price pressure.

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