Lazard releases global healthcare industry study

NEW YORK, September 27, 2021 – Lazard Ltd (NYSE: LAZ) today released its fourth annual in-depth study of strategic challenges and opportunities in the global healthcare industry, surveying 200 C-level executives and investors across three global sectors: Biopharmaceuticals; Medical Devices and Diagnostics; and Healthcare Services. As the COVID-19 pandemic continues to evolve, this year’s study focuses on the healthcare leaders’ pandemic-related challenges and expectations, as well as the strategic priorities for their businesses.

In last year’s study, there was a high correlation between healthcare industry leaders’ responses and the subsequent course of events. This year’s study finds that most healthcare leaders expect a protracted battle with the global health crisis, with the majority of respondents expecting the pandemic to continue through 2022 and beyond. They also have significant concerns about scenarios that could create risk for resurgence, such as vaccine hesitancy, distribution shortfalls in developing countries, and new variants. In addition, the majority of respondents expect the pandemic to have lasting impacts, both positive and negative, on their industry, the business world and socioeconomic trends globally.

“Most healthcare industry leaders expect the pandemic to permanently accelerate the digital revolution, technology and automation, but a significant number also expect worsening national and global inequity, worsening political divides and protectionist trends,” said David Gluckman, Global Head of Lazard’s Healthcare Group.

“In a challenging environment for the healthcare industry, scientific innovation and advances in digital technologies are seen as the greatest forces for positive transformation.”

“The need for growth and innovation continues to drive companies toward strategic transactions, including M&A, alliances and licensing activity,” said Stephen Sands, Chairman of Lazard’s Global Healthcare Group. “The majority of respondents predict increased strategic activity for the remainder of this year and into 2022 and beyond.”