Digital technologies are here – but are they being used adequately?
Stephanie Sutton | | Interview
The pharma industry could not operate without regulations – drug development is complex and regulations ensure companies pay adequate attention to all essential aspects, ultimately ensuring patient safety. But many also perceive regulations as stifling innovation. In its study, “Pharma Insights 2019”, consulting firm MAIN5 found that 65 percent of processes in a pharma company are audit-focused; only 8 percent of processes are future oriented. Digitalization could have a huge impact on processes – if companies can overcome the challenges of implementation. We spoke with Tore Bergsteiner, Managing Director at MAIN5, to learn more about the survey respondents’ attitudes to new technologies.
What were the most surprising findings of the study?
We were astonished by how massive the impact of digitalization could be in life sciences (90 percent of respondents said the impact of digitalization on the pharma and life science sectors is high or very high). However, processes in pharma are still perceived as being primarily audit-focused, or even just historically evolved. Even though the digital transformation is present, it is currently not matched with a substantial change in the processes and cultures within pharmaceutical organizations. In particular, pharma is a rather data driven business and we can see high potential in the value that could come from computational mass analysis of the large data repositories.
We assume that the situation will change in the next 2-4 years.
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