Summary: This keynote address presented by Pamela Spence, EY Global Life Sciences Leader (pspence2@uk.ey.com) at MAPS 2018 – the annual meeting for Medical Affairs Professional Society – discusses our latest life sciences report and the industry demands for a customer-focused, data driven approach to health care. We describe the accelerating pace of change as technological advances and the escalating expectations of payers, physicians and patient consumers are combining to disrupt the life sciences business model. Data and algorithms that maximize health outcomes based on individual needs and preferences are becoming the ultimate health care consumable. To create value now and in a future that we call Life Sciences 4.0, life sciences companies must build – or participate in – interoperable information systems that collect, combine and share data. For more on our report, Progressions 2018 – Life Sciences 4.0, please go to www.ey.com/progressions
A.T. Kearney 2017 State of Logistics Report: Accelerating into UncertaintyKearney
2017 could be a pivotal year for logistics. Demand patterns are shifting, technological advances are altering industry economics, and new competitors are challenging old business models. This year could bring significant moves that reshape individual sectors and even the industry as a whole. Major business combinations, large-scale shifts in distribution flows, deep capacity cuts, massive infrastructure investments–anything is possible. Here are the ten key takeaways from the 2017 State of Logistics report, as well as the four potential scenarios for the future of logistics.
A.T. Kearney reached out to more than 2,000 executives, business leaders, and heads of strategy functions to discuss their thoughts on the state of strategy today. Our findings indicate that while most leaders continue to believe in strategy, the return on their strategy initiatives has largely eroded over the past decade. In fact, when asked what it takes to secure a prosperous future, more than 80 percent of executives consider agility as important or more important than strategy when it comes to securing a prosperous future. Fortunately, the findings also point to promising ways to reclaim strategy—including using future-focused tools and techniques and engaging the organization in strategy formulation.
The 2016 Strategic Hospital Priorities Study examines the current direction of the industry and, in particular, how Medtech companies can capitalize on the many needs of hospital administrators.
While the healthcare market has steadily evolved since L.E.K. Consulting issued its first hospital study in 2010, many of the same trends remain in place — among them consolidation, non-acute care integration, accountability, technology enhancements and novel pricing schemes.
This Executive Insights addresses a number of key topics, including:
Hospital administrator’s chief priorities
Most valuable medtech services
Focus on IT spending
Outlook for outsourcing
Right Cloud Mindset: Survey Results Hospitality | Accentureaccenture
Looking two years ahead: Functional objectives along with technology related challenges and top five areas of investment for hospitality companies. Learn more: https://accntu.re/3uB9LL1
The Diversity Imperative: 14th Annual Australian Chief Executive StudyPwC's Strategy&
This report provides insight into the 2013 Australian Chief Executive Study findings, compares the results to the global market and identifies trends. Our analysis looks at trends relating to performance and tenure; reasons for CEO turnover; and the number of insider appointments versus outsider appointments.
Joining Forces: Interagency Collaboration and "Smart Power"Booz Allen Hamilton
Has U.S. defense, diplomacy and development adopted a “smart power” approach? In this follow-up to a 2010 report, the Government Business Council (GBC) evaluates progress towards increased interagency collaboration and how budget pressures may change foreign policy. Moderator is GBC's Associate Director of Research Erin Dian Dumbacher and Speakers include Booz Allen senior associate's Cheryl Steele and Jonathan Allen. Download the full report here: http://www.govexec.com/gbc/report/smart_power_2011/
Learn more about Smart Power: http://www.boozallen.com/smartpower
When, Where & How AI Will Boost Federal Workforce Productivityaccenture
Accenture developed an economic model to understand how AI will impact the U.S. federal workforce, through automation and augmentation. Learn more: https://accntu.re/3hsRG8O
The prosperity that Australia enjoys today will be challenged in the next decade. Disruptive technology will create fewer but bigger winners and more losers. Business has to increase its risk appetite, discover new ideas, pursue more radical strategies, and take bigger steps. In the face of adversity, Australia must respond.
A.T. Kearney 2017 State of Logistics Report: Accelerating into UncertaintyKearney
2017 could be a pivotal year for logistics. Demand patterns are shifting, technological advances are altering industry economics, and new competitors are challenging old business models. This year could bring significant moves that reshape individual sectors and even the industry as a whole. Major business combinations, large-scale shifts in distribution flows, deep capacity cuts, massive infrastructure investments–anything is possible. Here are the ten key takeaways from the 2017 State of Logistics report, as well as the four potential scenarios for the future of logistics.
A.T. Kearney reached out to more than 2,000 executives, business leaders, and heads of strategy functions to discuss their thoughts on the state of strategy today. Our findings indicate that while most leaders continue to believe in strategy, the return on their strategy initiatives has largely eroded over the past decade. In fact, when asked what it takes to secure a prosperous future, more than 80 percent of executives consider agility as important or more important than strategy when it comes to securing a prosperous future. Fortunately, the findings also point to promising ways to reclaim strategy—including using future-focused tools and techniques and engaging the organization in strategy formulation.
The 2016 Strategic Hospital Priorities Study examines the current direction of the industry and, in particular, how Medtech companies can capitalize on the many needs of hospital administrators.
While the healthcare market has steadily evolved since L.E.K. Consulting issued its first hospital study in 2010, many of the same trends remain in place — among them consolidation, non-acute care integration, accountability, technology enhancements and novel pricing schemes.
This Executive Insights addresses a number of key topics, including:
Hospital administrator’s chief priorities
Most valuable medtech services
Focus on IT spending
Outlook for outsourcing
Right Cloud Mindset: Survey Results Hospitality | Accentureaccenture
Looking two years ahead: Functional objectives along with technology related challenges and top five areas of investment for hospitality companies. Learn more: https://accntu.re/3uB9LL1
The Diversity Imperative: 14th Annual Australian Chief Executive StudyPwC's Strategy&
This report provides insight into the 2013 Australian Chief Executive Study findings, compares the results to the global market and identifies trends. Our analysis looks at trends relating to performance and tenure; reasons for CEO turnover; and the number of insider appointments versus outsider appointments.
Joining Forces: Interagency Collaboration and "Smart Power"Booz Allen Hamilton
Has U.S. defense, diplomacy and development adopted a “smart power” approach? In this follow-up to a 2010 report, the Government Business Council (GBC) evaluates progress towards increased interagency collaboration and how budget pressures may change foreign policy. Moderator is GBC's Associate Director of Research Erin Dian Dumbacher and Speakers include Booz Allen senior associate's Cheryl Steele and Jonathan Allen. Download the full report here: http://www.govexec.com/gbc/report/smart_power_2011/
Learn more about Smart Power: http://www.boozallen.com/smartpower
When, Where & How AI Will Boost Federal Workforce Productivityaccenture
Accenture developed an economic model to understand how AI will impact the U.S. federal workforce, through automation and augmentation. Learn more: https://accntu.re/3hsRG8O
The prosperity that Australia enjoys today will be challenged in the next decade. Disruptive technology will create fewer but bigger winners and more losers. Business has to increase its risk appetite, discover new ideas, pursue more radical strategies, and take bigger steps. In the face of adversity, Australia must respond.
Since last year ended on such a strong note, many of us were optimistic about the prospects for Q1. Though not as strong as the fourth quarter of 2014, the first quarter of 2015 kicked off on a positive note, with 23 technology companies raising US$6.1billion* in proceeds from their IPOs. That’s the second highest first quarter proceeds in the past five years and impressive given the increased US market volatility and consistent with the high pre-IPO valuations we’ve seen recently. Granted, if you look at the year over year comparison, offerings were down 12% and proceeds declined 11%. And sequentially, the number of technology IPOs declined 32% while proceeds fell by 19%. Still, it’s a promising start for 2015. Learn more at www.pwc.com/globaltechipo
*Deal size greater than US$40 million
The FDA and industry: A recipe for collaborating in the New Health EconomyPwC
Pharmaceutical and life science companies and their chief regulator – the FDA – must find new ways to collaborate to meet 21st century demands.
Web Page: http://www.pwc.com/us/en/health-industries/health-research-institute/hri-pharma-life-sciences-fda.jhtml
The Accelerating Growth of Frictionless Commerce | A.T. KearneyKearney
Traditional payments are being replaced by new "frictionless" options that use customer-provided data to make a purchase without an explicit customer decision.
Federal Technology Vision 2021: Full U.S. Federal Survey Findings | Accentureaccenture
Leaders don’t wait for a new normal, they build it. The Accenture Federal Technology Vision 2021 identifies five key trends that agencies must address to lead in the post-pandemic world. Explore the full survey findings here. https://accntu.re/3sIBI0k
IBOR transition: Opportunities and challenges for the asset management industryEY
EY Wealth & Asset Management explores the practical implications and the way forward for the transition to the new risk-free rates. This presentation aims to help asset managers and asset owners explore IBOR transition strategies that are compliant and future-focused.
A.T. Kearney Consolidation of the US Banking IndustryKearney
More and more banked consumers are migrating from small to large banks, flagging the accelerated consolidation of the retail banking industry in the years to come.
18th Annual Global CEO Survey - Technology industry key findingsPwC
Tech CEOs are optimistic about the global economy and both near term and future revenue growth. They view strategic alliances, including partnering with competitors, as a primary means to grow their businesses. We invite you to explore the analysis and contact us to discuss how we can help your business capitalise on the new - but challenging - opportunities for growth. Learn more http://pwc.to/1DaolqY
Website: http://www.pwc.com/gx/en/ceo-survey/2015/industry/technology.jhtml
EY Price Point: global oil and gas market outlook, Q2 | April 2022EY
The theme for this quarter is rearrangement. The loss, or potential loss, of Russian oil and gas supplies is forcing producers, refiners and traders to rethink the flow of crude oil and refined products from the wellhead to the gas pump in light of sanctions, potential sanctions and the risk of reputational damage. Countries, companies and consumers will all be searching for ways to adapt, and the outcome of the race to bring alternatives to market could alter the global energy landscape for years to come.
It is likely crude oil and LNG prices will remain elevated for some time. The process of diverting Russian oil through countries unwilling to sanction it will take time and there is little indication OPEC members are willing (or able) to increase production to make up for the loss of Russian crude. Spare capacity sat at 3.7 mbpd at the end of 2021, just above where it was in January 2020. Currently, sanctioned Venezuelan and Iranian production (about 3 mbpd below their peak) could fill the gap, but political and commercial obstacles remain. At today’s prices, US shale production is attractive, but the fastest the industry has been able to grow is between 1mbpd and 2mbpd per year. The LNG infrastructure was already stretched before the war in Ukraine and there is little prosect of finding new supplies soon.
As the largest buyer of Russian energy, Europe will be the epicenter. There is a deeply embedded bias there in favor for renewable energy, and the current crisis is certain to result in an all-out effort to accelerate the build-out of wind and solar power. The capacity to add new green energy is limited though by the project pipeline and supply chains for solar panels and wind turbines, and it is likely that much of the shortfall will be made up with the new LNG infrastructure.
Is your energy investment strategy built on the best evidence?
As the energy sector transforms, capital and investment plans must adapt too. Is it time to review your strategies in light of global utilities investment trends? Our latest Power transactions and trends report offers insight and evidence into the major themes and emerging trends driving global power and utilities M&A. Updated quarterly, the report delivers deep insights into each major region.
TMT Outlook 2017: A new wave of advances offer opportunities and challengesDeloitte United States
Important trends continue to shape the technology, media, and telecommunications (TMT) industry. What developments should you anticipate in 2017? https://subscriptions.deloitte.com/default.aspx?eventid=1323075
PwC’s new Golden Age Index – how well are countries harnessing the power of o...PwC
One of the key megatrends affecting the UK and most other developed countries is an ageing population. Harnessing the potential of older workers will therefore become an increasingly important source of competitive advantage for both nations and businesses.
To explore how the UK compares with other OECD economies in this regard, PwC has developed a new ‘Golden Age index’ comparing how well they are utilising workers aged 55 and over. The index includes relative employment, earnings and training rates for older workers for 34 OECD countries over the period since 2003.
Top 8 Insights From the 2018 Beauty, Health & Wellness SurveyL.E.K. Consulting
Think nutritional supplements and skincare are of interest only to consumers of a certain age? Think again. According to L.E.K. Consulting’s third installment of a biennial survey of the healthy living marketplace, this one focusing on nutrition and skincare, some 80% of health and wellness (H&W) consumers across generations — from millennials to baby boomers — are highly engaged with both categories.
The survey captured insights from more than 1,600 respondents, representing roughly 77% of the U.S. adult population who identify with H&W themes, and generated eight key insights across categories. Together these insights make clear that consumer interest in nutritional supplements and skincare often lasts a lifetime.
L.E.K. Consulting’s annual Media & Entertainment Study
was conducted between December 2018 and January
2019. We surveyed around 2,000 households on their
entertainment choices, preferences and viewing habits.
This Executive Insights analyzes key findings about
movie theater attendance and subscription services.
China Exit or Co-Investment Opportunities for German PE InvestorsL.E.K. Consulting
L.E.K.'s Karin von Kienlin recently presented at BVK on a study conducted by L.E.K. Munich and Shanghai. They wished to:
- Understand developments in Chinese equity investments in both the domestic China / pan-Asian market and cross-border investments between China and Germany / Europe
- Identify trends in likely future investment behavior and its drivers
- Defining success factors both for Chinese and German investors / corporates as to how to benefit from the potential opportunities of cross-border investments and cooperation
Learn more in the presentation here.
The Role Of Data and Emergent Technologies In Managing Health IFAH
Joanna Taylor, Partner - Advisory Markets & Life Sciences, Ernst & Young AG on the topic of 'The Role Of Data and Emergent Technologies In Managing Health ' at IFAH held at Le Meridien, Dubai on 16th - 18th December, 2019.
3º FÓRUM DA SAÚDE SUPLEMENTAR - CARMELLA BOCCHINOCNseg
Palestra de Carmella Bocchino no 3º Fórum Nacional da Saúde Suplementar, realizado pela Federação Nacional de Saúde Suplementar (FenaSaúde), no Sheraton WTC São Paulo Hotel, no dia 5 de outubro de 2017.
Since last year ended on such a strong note, many of us were optimistic about the prospects for Q1. Though not as strong as the fourth quarter of 2014, the first quarter of 2015 kicked off on a positive note, with 23 technology companies raising US$6.1billion* in proceeds from their IPOs. That’s the second highest first quarter proceeds in the past five years and impressive given the increased US market volatility and consistent with the high pre-IPO valuations we’ve seen recently. Granted, if you look at the year over year comparison, offerings were down 12% and proceeds declined 11%. And sequentially, the number of technology IPOs declined 32% while proceeds fell by 19%. Still, it’s a promising start for 2015. Learn more at www.pwc.com/globaltechipo
*Deal size greater than US$40 million
The FDA and industry: A recipe for collaborating in the New Health EconomyPwC
Pharmaceutical and life science companies and their chief regulator – the FDA – must find new ways to collaborate to meet 21st century demands.
Web Page: http://www.pwc.com/us/en/health-industries/health-research-institute/hri-pharma-life-sciences-fda.jhtml
The Accelerating Growth of Frictionless Commerce | A.T. KearneyKearney
Traditional payments are being replaced by new "frictionless" options that use customer-provided data to make a purchase without an explicit customer decision.
Federal Technology Vision 2021: Full U.S. Federal Survey Findings | Accentureaccenture
Leaders don’t wait for a new normal, they build it. The Accenture Federal Technology Vision 2021 identifies five key trends that agencies must address to lead in the post-pandemic world. Explore the full survey findings here. https://accntu.re/3sIBI0k
IBOR transition: Opportunities and challenges for the asset management industryEY
EY Wealth & Asset Management explores the practical implications and the way forward for the transition to the new risk-free rates. This presentation aims to help asset managers and asset owners explore IBOR transition strategies that are compliant and future-focused.
A.T. Kearney Consolidation of the US Banking IndustryKearney
More and more banked consumers are migrating from small to large banks, flagging the accelerated consolidation of the retail banking industry in the years to come.
18th Annual Global CEO Survey - Technology industry key findingsPwC
Tech CEOs are optimistic about the global economy and both near term and future revenue growth. They view strategic alliances, including partnering with competitors, as a primary means to grow their businesses. We invite you to explore the analysis and contact us to discuss how we can help your business capitalise on the new - but challenging - opportunities for growth. Learn more http://pwc.to/1DaolqY
Website: http://www.pwc.com/gx/en/ceo-survey/2015/industry/technology.jhtml
EY Price Point: global oil and gas market outlook, Q2 | April 2022EY
The theme for this quarter is rearrangement. The loss, or potential loss, of Russian oil and gas supplies is forcing producers, refiners and traders to rethink the flow of crude oil and refined products from the wellhead to the gas pump in light of sanctions, potential sanctions and the risk of reputational damage. Countries, companies and consumers will all be searching for ways to adapt, and the outcome of the race to bring alternatives to market could alter the global energy landscape for years to come.
It is likely crude oil and LNG prices will remain elevated for some time. The process of diverting Russian oil through countries unwilling to sanction it will take time and there is little indication OPEC members are willing (or able) to increase production to make up for the loss of Russian crude. Spare capacity sat at 3.7 mbpd at the end of 2021, just above where it was in January 2020. Currently, sanctioned Venezuelan and Iranian production (about 3 mbpd below their peak) could fill the gap, but political and commercial obstacles remain. At today’s prices, US shale production is attractive, but the fastest the industry has been able to grow is between 1mbpd and 2mbpd per year. The LNG infrastructure was already stretched before the war in Ukraine and there is little prosect of finding new supplies soon.
As the largest buyer of Russian energy, Europe will be the epicenter. There is a deeply embedded bias there in favor for renewable energy, and the current crisis is certain to result in an all-out effort to accelerate the build-out of wind and solar power. The capacity to add new green energy is limited though by the project pipeline and supply chains for solar panels and wind turbines, and it is likely that much of the shortfall will be made up with the new LNG infrastructure.
Is your energy investment strategy built on the best evidence?
As the energy sector transforms, capital and investment plans must adapt too. Is it time to review your strategies in light of global utilities investment trends? Our latest Power transactions and trends report offers insight and evidence into the major themes and emerging trends driving global power and utilities M&A. Updated quarterly, the report delivers deep insights into each major region.
TMT Outlook 2017: A new wave of advances offer opportunities and challengesDeloitte United States
Important trends continue to shape the technology, media, and telecommunications (TMT) industry. What developments should you anticipate in 2017? https://subscriptions.deloitte.com/default.aspx?eventid=1323075
PwC’s new Golden Age Index – how well are countries harnessing the power of o...PwC
One of the key megatrends affecting the UK and most other developed countries is an ageing population. Harnessing the potential of older workers will therefore become an increasingly important source of competitive advantage for both nations and businesses.
To explore how the UK compares with other OECD economies in this regard, PwC has developed a new ‘Golden Age index’ comparing how well they are utilising workers aged 55 and over. The index includes relative employment, earnings and training rates for older workers for 34 OECD countries over the period since 2003.
Top 8 Insights From the 2018 Beauty, Health & Wellness SurveyL.E.K. Consulting
Think nutritional supplements and skincare are of interest only to consumers of a certain age? Think again. According to L.E.K. Consulting’s third installment of a biennial survey of the healthy living marketplace, this one focusing on nutrition and skincare, some 80% of health and wellness (H&W) consumers across generations — from millennials to baby boomers — are highly engaged with both categories.
The survey captured insights from more than 1,600 respondents, representing roughly 77% of the U.S. adult population who identify with H&W themes, and generated eight key insights across categories. Together these insights make clear that consumer interest in nutritional supplements and skincare often lasts a lifetime.
L.E.K. Consulting’s annual Media & Entertainment Study
was conducted between December 2018 and January
2019. We surveyed around 2,000 households on their
entertainment choices, preferences and viewing habits.
This Executive Insights analyzes key findings about
movie theater attendance and subscription services.
China Exit or Co-Investment Opportunities for German PE InvestorsL.E.K. Consulting
L.E.K.'s Karin von Kienlin recently presented at BVK on a study conducted by L.E.K. Munich and Shanghai. They wished to:
- Understand developments in Chinese equity investments in both the domestic China / pan-Asian market and cross-border investments between China and Germany / Europe
- Identify trends in likely future investment behavior and its drivers
- Defining success factors both for Chinese and German investors / corporates as to how to benefit from the potential opportunities of cross-border investments and cooperation
Learn more in the presentation here.
The Role Of Data and Emergent Technologies In Managing Health IFAH
Joanna Taylor, Partner - Advisory Markets & Life Sciences, Ernst & Young AG on the topic of 'The Role Of Data and Emergent Technologies In Managing Health ' at IFAH held at Le Meridien, Dubai on 16th - 18th December, 2019.
3º FÓRUM DA SAÚDE SUPLEMENTAR - CARMELLA BOCCHINOCNseg
Palestra de Carmella Bocchino no 3º Fórum Nacional da Saúde Suplementar, realizado pela Federação Nacional de Saúde Suplementar (FenaSaúde), no Sheraton WTC São Paulo Hotel, no dia 5 de outubro de 2017.
2016 IBM Interconnect - medical devices transformationElizabeth Koumpan
Emerging technologies such as Internet of Things, 3D Printing are driving the creation of new business models and forcing the Industry for transformation. The product centric model where the Industry main objective was to develop the device, is moving to software and services model, with the focus on Big Data & Analytics, Integration and Cloud.
The maturation of technologies such as social, mobile, analytics, cloud, 3D printing, bio- and nanotechnology are rapidly shifting the competitive landscape. These emerging technologies create an environment that is connected and open, simple and intelligent, fast and scalable. Organizations must embrace disruptive technologies to drive innovation
Advanced health technologies and their budgetary implications - Valérie Paris...OECD Governance
This presentation was made by Valérie Paris, OECD Secretariat, at the 6th meeting of the joint OECD DELSA-GOV network on fiscal sustainability of health systems held in Paris, on 18-19 September 2017
Advanced health technologies and budgetary implications -- Valerie Paris, OECDOECD Governance
This presentation was made by Valérie Paris, OECD Secretariat, at the 6th Meeting of the Joint OECD DELSA-GOV Network on Fiscal Sustainability of Health Systems, held at the OECD Conference Centre, Paris, on 18-19 September 2017
Wendy Mayer, VP of Worldwide Innovation at Pfizer presented this at the Health Hackathon at Cornell Tech on April 9, 2015 to the audience of Cornell, MIT, Harvard, and Weill students. #HealthHack2015
Healthcare data and its impact upon the patient care decision process via accurate, real-time, reliable data from disparate sources is creating a digital health revolution. Data-driven healthcare is beginning to have a huge impact addressing the challenges of every provider, through efficient handling of huge volumes of patient care data.
Providers need to move towards real-time analytics that have become critical to demonstrate their quality of care, as reimbursement by government programs can be contingent upon how providers are measured in “Quality of Care”. For example, the Medicare Access and CHIP Reauthorization Act (MACRA) of 2015, also called the Permanent Doc Fix, changes the way Medicare doctors are reimbursed with the implementation of a merit based incentive. The performance-based pressure is huge, which makes it imperative that every provider consider technology solutions. Read more at https://www.solix.com/solutions/data-driven-solutions/healthcare/
Similar to MAPS2018 Keynote address on EY report: Life Sciences 4.0 – Securing value through data-driven platforms (20)
The theme for this quarter is momentum meets uncertainty. The upward trend in crude oil, natural gas, LNG and refined product prices that began in Q1 continued into Q2. Crude oil markets began the quarter just below $100/bbl and have closed below that level on only two days since late April. As we begin Q3, there are increasing concerns about the health of the global economy and how that might affect oil and gas demand.
Quarterly analyst themes of oil and gas earnings, Q1 2022EY
Financial questions continued to attract the most attention of the analyst community, with major focus on how companies will respond to the war in Ukraine, elevated commodity prices and improved cash flows. Strategic questions focused on how the changing geopolitical environment will affect capital allocation in the short and long term. Operationally, all eyes were on the capacity of companies to step up asset utilization and bring new projects to market quickly. Explore the latest EY quarterly analysts themes.
EY Price Point: global oil and gas market outlookEY
As the last quarter of the second pandemic year draws to a close, we continue to see heightened contrast
between the medical and economic points of view. While COVID-19 cases are close to their all-time highs, so
are equity prices, and a leading investment bank declared (on 2 December, 2021 after the Omicron outbreak in South Africa) that it was “optimistic about the possibility of a vibrant 2022.” When news of the variant hit in
late November, the markets were rocked by the prospect of yet another round of local mobility restrictions and
an interrupted return to normal international travel patterns, on top of the Biden Administration’s announced
release of 50 million barrels of crude from the US Strategic Petroleum Reserve. So far though, with OPEC
standing by its planned gradual return to normal production, oil prices have stabilized, albeit below where they
were in mid-November. Henry Hub prices, always at the mercy of the weather, responded predictably to a
warmer-than-normal early winter in the US, falling from US$6.60/MMBtu in early October to below
US$4.00/MMBtu by mid-December. In Europe and Asia, following a short reprieve at the start of the quarter,
piped natural gas prices have spiked again on concerns triggered by Russian troop buildups on the Ukraine
border and uncertainties surrounding the Nordstream 2 pipeline. Looking forward, OPEC and the U.S. Energy
Information Administration (EIA) in their last forecasts of the year both projected that 2022 oil demand would
be above what we saw in 2019. Although time will tell if those forecasts are realized and other events could
intervene, the response to new virus outbreaks is well-practiced and the trade-off between public health and
economic reality has tipped toward a cautiously optimistic view.
EY Price Point: global oil and gas market outlook, Q2 April 2021EY
The theme for this quarter is governed. Apparent market balance at prices that could be sustainable is the product of calculated choices by market leaders and the cooperation of those who follow them. Economics played their customary role as well, with capital scarcity in North America taking about 2 million barrels per day out of the market, about half of the remaining gap in demand. While inventories are close to their pre-COVID-19 levels, there is still uncertainty. The resolution of the pandemic is in sight, but timing is unclear. Vaccine distribution in the US is having an impact but Europe is struggling to contain a third wave of infections. The taps have opened on economic stimulus, but it remains to be seen if policymakers have done enough or if they have overshot the mark.
The shape of the crude oil forward curve has fundamentally changed since the end of the last quarter. In late December of last year, the Brent forward curve was gradually increasing while today, the curve is backwardated. This is a clear sign that the market sees a short-term dynamic that is disconnected from the medium-to-long-term fundamentals. The lasting impact of the COVID-19 pandemic remains to be seen. While many have opined that COVID-19 marks a turning point in energy transition, the IEA recently released a five-year forecast of oil demand that shows steady growth, albeit at rates that are below historical expectations.
Gas markets are a paradox. At the Henry Hub and at LNG destinations, demand grows, investment lags and prices will occasionally attract attention. Traders, so far though, are unconvinced and futures prices don’t indicate imminent scarcity at any link in the value chain.
EY Price Point: global oil and gas market outlookEY
We enter 2021 on a note of cautious optimism for global health, the world economy, and the oil and gas markets. The first weeks of December brought approval in the US and the UK of the first of several COVID-19 vaccines. The speed with which vaccine development occurred is unprecedented, but certainly welcome. In the weeks following the early November announcement of 90+% effectiveness by the manufacturer of the first approved vaccine, the price of WTI crude oil increased by US$10/bbl to US$48/bbl, the highest level since early March. Sustainability hasn’t returned yet, and whatever time it takes to get the world to normal, it will take even longer for normalization within the oil and gas markets. Inventories remain at historically high levels and, optimistically, it will take until April before inventory returns to levels observed in the preceding five years. That’s an estimate, and there has obviously been some difficulty properly calibrating the expectations of how balance will return and how long it will take. In late November, OPEC met to adjust its output plans because of the anemic rebound in demand. In mid-December, the IEA lowered its demand forecast for 2021 due mostly to continued sluggishness in aviation fuel demand.
A mild winter has interrupted a recovery in North American natural gas prices after a run-up motivated by curtailed capital expenditures, upstream activity and production. After an initial meltdown, with cargo cancellations and dramatic price reversal, LNG markets have made a remarkable comeback, and the spread between Asia and Henry Hub has reached a level we haven’t seen in almost three years. It may be the case that interruption in FIDs has brought us to the cusp of a balance that can support reliable returns.
EY Price Point: global oil and gas market outlook (Q4, October 2020)EY
Oil and gas prices have recovered steadily from their lows and are relatively stable, but that stability is supported by the combination of purposeful withholding of production by oil-producing countries and economic stress on upstream independents. Oil prices closed the quarter roughly where they started it, while refining spreads were down slightly. LNG spreads were substantially higher at the end of Q3 than they were at the beginning of the quarter but are still roughly half of what is generally thought of as sustainable.
Going forward, the market will be looking closely at how the economy and demand respond to new developments with respect to a potential COVID-19 vaccine and the US election.
EY Price Point: global oil and gas market outlookEY
As we close the second quarter of 2020, in most of Europe and Asia, the first (and hopefully last) wave of the COVID-19 crisis appears to be abating. In the parts of the US where the virus hit early, the profile has largely matched Europe’s, while in other parts, the urge to reopen businesses has trumped the desire to contain the virus and uncertainty looms. In the developing world, the crisis has just begun, but without the economic headroom and resources necessary to contain it. As the crisis unfolded, the effect on oil and gas demand has been predictable but difficult to gauge precisely and therefore difficult to manage.
Oil prices have crept up steadily as production has been curtailed through coordinated action (OPEC+) and because of economic reality (unconventional oil in North America). That trend has been subject to momentary spasms when bad news hit the market. It would be understandable if traders were nervous, and it seems that they are. Although nowhere near where it was at the peak of the crisis, option implied volatility is still at historically high levels. Gas markets, without the benefit of coordination on the supply side, continue to deal with the market implications of storage at or near capacity. Interfuel competition in power generation has always provided something of a floor, but those lows have been, and will continue to be, tested.
Zahl der Gewinnwarnungen steigt auf RekordniveauEY
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MAPS2018 Keynote address on EY report: Life Sciences 4.0 – Securing value through data-driven platforms
1. When the human body is
the biggest data platform,
who will capture the value?
Medical Affairs Professional Society
26 February 2018
2. Page 2
As a patient/consumer
As a policymaker
As a physician/care provider
As a biopharma or medtech
As a payer
How can I get the right, affordable treatment and support to
be healthy?
How can I have a transparent market with a balance of health
improvement versus cost?
How can I deliver the most cost-effective treatment to achieve
health improvement?
How can I get appropriately paid for providing the right
treatment solution?
How can I provide the most cost-effective health solutions to get
impact, and transition to them?
What do industry stakeholders really want?
Progressions 2018: Life Sciences 4.0
3. Page 3
We are entering a fourth industrial revolution … a fusion across
the physical, digital and biological worlds
Source: EY, World Economic Forum.
Artificial intelligence
• Drug discovery
• Diagnosis
• Patient monitoring
Device miniaturization
• Smart tattoos and bandages
• Digital pills
• Medical-grade wearables
Health care
technology
Internet of everything
• Smart appliances
• At-home diagnostics
• Connected clothing
Robotics and automation
• Robotic surgery
• Robotic caretakers/caregivers
• Exoskeletons
Blockchain
• Patient medical records
• Drug supply chain integrity
• Clinical trials
3-D printing
• Bioprinting — organs, bones, teeth
• Surgical instruments
• Devices, e.g., pacemakers
Cheaper computing
power and storage
• Private data cloud
• Big data analytics
Automated delivery
• Drones
• Self-driving cars
Genetic technologies
• Low-cost genetic
sequencing
• Gene editing
Augmented reality
• Connected eyewear
• Operating room of the future
Progressions 2018: Life Sciences 4.0
4. Page 4
Uninformed patients, payers
and providers
Disconnected health care
Blockbuster drugs
Sick care
Enhanced stakeholder demands and super consumers are
redefining health
Connected
health care
Integrating health care data; “man and
machine” delivering better interventions
Super
consumers
Patients, payers and providers
empowered by data
Health
care
Focusing on prevention and
addressing affordability
Precision
medicine
Mining data to deliver tailored medicine
Progressions 2018: Life Sciences 4.0
5. Page 5
Technology advancement and disruption are creating
opportunities for power to shift among stakeholder groups
* “Other sectors” includes retail, technology, manufacturing and industrial products, and consumer products.
Biopharma and medtech
Patients/consumers
Physician/care provider
Payers
Policymakers
Other sectors*
Traditional power Future power Power shift
Progressions 2018: Life Sciences 4.0
6. Page 6
Customers
Payer
Physician/care provider
Policymaker
Patient/consumer
Payer
Physician/care provider
Policymaker
Patient/consumer
Payer
Physician/care provider
Policymaker
Patient/consumer
Payer
Physician/care provider
Policymaker
Patient/consumer
Forces • R&D productivity
• Patent cliff
• Regulatory hurdles
4.0
Life Sciences
3.0Health
outcomes
Life Sciences
2.0Diversified
portfolios
Life Sciences
1.0Blockbuster
products
Life Sciences
Data-driven
platforms
• Provider/payer
consolidation
• Empowered patients
• Reimbursement
pressures
• Speed of technology
advancement
• Super consumers
• Aging populations and
chronic disease
Personalized experiences, products or services will be
increasingly demanded – Life Sciences 4.0
Progressions 2018: Life Sciences 4.0
7. Page 7
Future value will be captured by those who can fuel innovation
by unlocking the power of data through platforms
Future
value
Innovation
Outcomes x Personalization
For people
For physicians
For payers
For policymakers
Participatory
Precise
Predictive
Proactive
Data streams Traditional and
nontraditional
partners
Platforms
of care
(Connect + Combine + Share)
=
FV=ID
Data
Building Life Sciences 4.0
Progressions 2018: Life Sciences 4.0
8. Page 8
Technology giants are already significantly investing in health,
blurring the lines between health and technology
Source: EY, United States Patent and Trademark Office. Analysis as of 31 January 2018. Analysis is based on year of patent filing filtered by company for select search terms in the patent abstract or claim: health, medical, patient, disease,
wellness and physical activity.
9
14
19
128
21
28
7
9
48
23
42
40
33
0
20
40
60
80
100
2013 2014 2015 2016 2017
Alphabet
Microsoft
Apple
Progressions 2018: Life Sciences 4.0
9. Page 9
The challenge: health data is siloed across stakeholder groups
and within organizations
Biopharma
and medtech
companies
Physicians
and
hospitals
PayersPharmacies Laboratories
Consumers
and
caregivers
Governments
and
NGOs
• Preclinical
research
• Clinical
trial data
• Biomarker
analyses
• Post-market
analyses
• Health record
data
• Hospital
admissions
• Longitudinal
patient
outcomes
• Product sales
• Script volumes
• Medication
adherence
• Diagnostic
results
• Biomarker and
genetic
assessment
• Claims data
• Actuarial
analyses
• Cost data
• Cost data
• Demographic
data
• Biomedical
data
• Environmental
data
• Social media
commentary
• Sensor data
• Quantified
self/fitness
tracking
Progressions 2018: Life Sciences 4.0
10. Page 10
As health data is aggregated, more advanced platform
opportunities will emerge, placing the consumer at the center
Therapeutic-specific platforms of care
E M E R G I N G
Supra-platform aggregation
F U T U R E S T A T E
.
Point solutions
E V O L V I N G R A P I D L Y
Company
1
Genetic
testing
Multiple
sclerosis
Healthy
aging
Depression
Diabetes Asthma
D A T A
Asthma
Heart
disease
Company
2
Rheumatoid
arthritis
Oncology
Kidney
disease
Diabetes
DepressionHealthy
aging
Diabetes
Health
and
fitness
AsthmaHeart
disease
Company
3
P A T H 1
Companies
contribute solutions
to create a platform
in a specific
therapy area
Diabetes
Company
2
Company
1
Company
5
Company
4
Company
6
Company
3
P A T H 2
The individual is
surrounded by
multiple platform
solutions in the same
therapy area
Asthma
5
P A T H 3
The individual is
surrounded by
multiple platform
solutions in different
therapy areas
DepressionHealthy
aging
Diabetes
Health
and
fitness
Asthma
Heart
disease
Asthma
6
Asthma
1
Asthma
2
Asthma
3
Asthma
4
Rare
disease
Heart
disease
Genetic
testing
Depression
Rheumatoid
arthritis
Multiple
sclerosis
Oncology
Kidney
disease
Hospital
of future
Healthy
aging
Health
and
fitness
Progressions 2018: Life Sciences 4.0
D A T A
11. Page 11
The health care business of today has arranged itself in a
combination of four basic business models
Breakthrough
innovator
Developer of
best-in-class
products that
command high
prices and are
primarily paid for by
health insurance
Disease
manager
Developer of
products and
solutions to manage
chronic conditions
end-to-end
Efficient
producer
Developer of
“good enough”
products that are
cheaper than
the competition
Lifestyle
manager
Developer of
products aimed at
prevention and
overall health
maintenance sold
directly to
the consumer
Progressions 2018: Life Sciences 4.0
12. Page 12
How is
value
created?
High
dollar
value
capture
Low
dollar
value
capture
Who demands value?
Wealthy
individuals
Highly
innovative
products
and
services
Institutional
health care
systems
Efficient
operations
and supply
chain
Mass
market
consumers
Customer
understanding
and
relationships
Breakthrough
innovator
Efficient
producer
Disease
manager
Lifestyle
manager
Optimal value will come when companies create products and
services to match demands from different customer segments ...
Source: EY. Concept developed from an
initial idea first profiled by Prof. Brian D.
Smith in his book, The Future of Pharma,
published by Gower Publishing in 2011.
Progressions 2018: Life Sciences 4.0
13. Page 13
… creating opportunities for platform technologies
Breakthrough
innovator
► Scale in
digital capabilities
► External
collaborations
to access
emerging science
► Services to
provide customer
engagement and/or
integrated data
capture across the
value chain
Disease
manager
► Consumer-facing
solutions based on
individual preferences
► Behavioral science
skills to influence
adherence
► Understanding of
disease risk to
optimize care for those
at greatest risk
Efficient
producer
► Predictive analytics
capabilities to
improve inventory
management,
distribution
and forecasting
Lifestyle
manager
► Systems that
promote frictionless
customer engagement
► Algorithms
to anticipate
consumer needs
Progressions 2018: Life Sciences 4.0
14. Page 14
Agile networks, often short term, will deliver complementary
skills to core offerings
Source: Specific extract from EY research. Based on sample data; non-exhaustive.
Digital or new entrant
Life sciences company
Technology incumbent
Other
Progressions 2018: Life Sciences 4.0
15. Page 15
0
50
100
150
200
250
300
350
400
450
1 2 3 4 5
Source: EY; Fortune 500. The Fortune 500 is an annual list published by Fortune that ranks companies by total revenues for their respective fiscal years. Companies included in the directory are incorporated in the US, operate in the US, and
file financial statements with a government agency. The 2018–2023 estimate is determined by extrapolating linear or exponential trend lines in Microsoft Excel.
AveragenumberofnewcompaniesaddedtotheFortune500
If there is any doubt … without intervention, companies in the
Fortune 500 will be displaced
Linear forecast Exponential forecast
Progressions 2018: Life Sciences 4.0
16. Page 16
Progressions 2018 – Life Sciences 4.0
Securing value through platform based businesses
Future
value
Innovation
Outcomes x Personalization
For people
For physicians
For payers
For policymakers
Participatory
Precise
Predictive
Proactive
Data streams Traditional and
nontraditional
partners
Platforms
of care
(Connect + Combine + Share)
=
FV=ID
Data
Building Life Sciences 4.0
Progressions 2018: Life Sciences 4.0
17. Conclusions
► To create future value, life sciences companies must determine how they
can seize the upside of disruption in today’s transformative age.
► The ubiquity of data and analytics creates new opportunities for life sciences
companies to rethink innovation and create personalized health outcomes
that the wider ecosystem of health stakeholders are now demanding.
► Platforms that connect, combine and share data will be a central enabler
of this future value creation.
► These platforms create a mechanism for companies to quickly and safely
tap into diverse data streams and link them to scientific and clinical data.
► Companies will also need to consider developing new capabilities linked
to customer engagement, personalization and data literacy that are central
to emerging platforms of care.
► Life sciences companies can access these capabilities by building them
organically or through flexible partnerships or acquisitions.
Progressions 2018: Life Sciences 4.0Page 17