In the last couple of weeks, there has been a flurry of news articles surrounding job layoffs at a series of pharma and biotech organizations taking drastic cost cutting measures in response to financial pressures.

KPMG Life Sciences CEO Outlook has highlighted a range of challenges predicted by CEOs in the life sciences sector. Factors such as pricing pressures and patent expirations may affect the sector's growth, with many CEOs expecting subdued growth rates.

Whilst Amsterdam has long been considered the global home of cannabis use, Western countries are slowly changing their stance on its use.

AbbVie has announced Robert Michael, currently president and COO, will succeed Richard Gonzalez as CEO on July 1, moving into the role as executive chairman. The transition occurs as AbbVie faces significant market changes, notably biosimilar competition for its drug Humira.

In 2023, the biotech industry faced significant challenges, with a record number of companies, 18 in total, filing for bankruptcy, surpassing the preceding year’s record of eight.

Lonza has announced the closure of one of its plants in Guangzhou, China, closely following the news that its Hayward, California, facility will suffer the same fate.

Wednesday’s agenda opens with a keynote by Ken Keller, Chairman of the Board, President and Chief Executive Officer of Daiichi Sankyo, Inc., who uses his passion for innovation and compassion for patients as guiding principles of his leadership.