The life sciences and medical technology space is growing rapidly; trends in this space for 2020 reflect this growth. This article addresses the trends to expect, and how that may impact the work their attorneys will be facing in 2020 and beyond.

  • Data can be A client’s most important asset.

For some time, life sciences companies have been collecting information without an efficient means to monetize the data. Increasingly, artificial intelligence (AI) and machine-learning tools are informing the analytics companies can provide their customers using this data. These technologies are impacting research, testing, patient care, diagnostics, therapeutic approaches and outpatient care. They provide alternative revenue streams, but also complicate partnerships necessary for development, growth and marketing. Attorneys representing life sciences companies will need to not only be aware of data development and ownership considerations in development, partnership, customer and vendor agreements, but proactively educate themselves on the potential uses of such data. Frequently, the value of data becomes apparent to a client well after the contract is executed—and it will be up to the attorney to raise these issues for consideration beforehand. This will be complicated by the patchwork quilt of data privacy laws that these companies face; HIPAA, common law, the California Consumer Privacy Act (CCPA) and more will all need to be considered to ensure that a client’s data needs are not curtailed.