ZS致盛咨询：2025年生物制药商业化报告：驱动上市模式现代化的趋势分析（英文版）

Pharma's underperforming launches have been long lamented. From 2019-2021, about 60%of pharma launches didn't meet analyst expectations. in the last two years, the picturehas improved slightly, but roughly half of all launches have still underperformed. At thesame time, the industry has shifted to an "always be launching" mindset, with many largecompanies readying for more than 10 new launches each in the next two years. But while thenumber of launches is increasing, the pea