Pharma Value Chain - Digital Technologies
Digital technologies are being instituted across all three stages of the pharma value chain to increase productivity and efficiency in R&D, clinical trials, create transparency in the supply chain, and in dealing with regulators and commercialization. Ten reports are summarized below.
1. Digital in R&D: The $100 billion opportunity
- The free report by McKinsey can be found here.
- This article discusses the potential for digital R&D to address the current issues surrounding R&D in the pharmaceutical world and gives the size of this opportunity to be around $50 to $150 billion of EBITDA. They provide the key areas of disruption and transformation of R&D productivity, namely the use of analytics to accelerate research, digitally connecting with the patient to aid in receiving precise information immediately and can reinvent clinical trials and the customer experience.
2. Digital R&D: Transforming the future of clinical development
- The free article by Deloitte can be accessed here.
- In the article they state that the current high-risk, high-cost R&D models is unsustainable and some clinical trials use processes that were used in the 90s. Digital technologies can transform this approach by incorporating insights from multiple data sources, improve the patient experience, enhance the productivity of clinical trials and the amount and quality of that data from the trials.
3. Top 7 Trends In Pharmaceutical Research In 2018
- This free article by BioPharmaTrend can be accessed here.
- This article gives 7 trends that are affecting the pharmaceutical research industry. They state that AI-driven companies are gaining traction with big pharma and life science players, and the potential of using AI tools is being explored at every stage of drug discovery and development.
4. DIGITAL’S TRANSFORMATIVE POWER ACROSS R&D
- This free article can be downloaded here.
- This article by Accenture discusses the digital transformation across R&D due to internal factors like inability to understand how to leverage the opportunities of going digital and external factors such as an aging demographic and increased regulatory scrutiny. They discuss how R&D departments can harness digital technologies to better understand diseases, enhance the patient experience and outcomes, improve decisions earlier in the process, and shift R&D to an informed and predictive approach.
5. Digital R&D: Transforming the future of clinical development
- The free Deloitte report can be accessed here.
- Deloitte states that it is imperative that the healthcare industry undergo a complete digital transformation to maximize R&D productively and deliver the next scientific breakthroughs. The analysis focuses on emerging technologies to maximize the value chain and produce higher R&D returns and optimize the pharma value chain.
SUPPLY CHAIN MANAGEMENT
6. Using technology to boost clinical supply chain performance
- This free article by Deloitte can be accessed here.
- Deloitte analyzed 12 large biopharma companies and found that they were not generating an appropriate ROI from their spending on R&D, and they are reorganizing their operations and clinical trials to " increase efficiency, reduce cost, and better connect with patients". They give five capabilities to improve clinical supply chain, namely in the Cloud, performance driven by analytics, IOT, blockchain, and mobile-centric patient experiences.
7. How digital health care can give providers an edge
- The free article from Deloitte can be accessed here.
- This article discusses the need for digital supply chains in the healthcare industry to optimize costs, reduce unnecessary variations, enhance patients' care and delivery, and address new value-creation priorities. They give examples of how digital supply chains help in planning and tracking influenza medication, track assets across the continuum of care and aid in opioid tracking, improve the visibility of inventory, and automate accounts payable.
8. 2019 Global life sciences outlook: Focus and transform | Accelerating change in life sciences
- The free Deloitte analysis can be downloaded here.
- The article discusses digitization and partnerships to meet the needs of transparency and disclosure in the supply chain, better manage the capacity gap and improve time-to-market, and are critical for maintaining compliant operations. They give the transformative digital technologies, namely AI, IoMT, SaMD, Blockchain, DIY diagnostics and virtual care, and the future of mobility.
COMMERCIALIZATION OF PHARMA
9. A bold future for life sciences regulation: Predictions 2025
- The free Deloitte report can be downloaded here.
- This article explores Deloitte's key predictions for the life science industry through 2025, and one of those predictions is a digital transformation to Regulation 4.0. Digital trends will align and connect global regulators to improve the efficiency and cost-effectiveness of regulation and the productiveness and quality of regulations. These improvements will enable faster decision-making in the approval process and thus commercialization.
10. Digital Healthcare Growth Drivers In 2019
- The Forbes article can be accessed here.
- The article discusses the need for pharmaceutical companies to invest resources in digital offerings for product development and commercialization. They use examples of big pharma companies like Pfizer that are hiring digital and technology officers to be the new class of digital chiefs to create impact and make deals. They also point out partnerships that have resulted in significant investments for virtual clinical trials and how digital technologies increase regulatory accessibility with the modernization of a digital regulatory pathway and frameworks.