Let’s just say what we’re all thinking: 2020 was rough. It threw every element of our lives into disarray. We suddenly had to become experts at navigating a new way of working, schooling and socialising. It was disruptive and it was challenging, but it was also transformative. And although the past 12 months might have felt like 12 years, it’s time to look forward to what the future holds. If 2020 was the year of disruption, 2021 will be the year of mastering change.
To survive in a competitive and unrelenting industry, pharmaceutical and biotech companies must continually focus on improvement. But when the pace and magnitude of change renders traditional improvement approaches ineffective, companies must evolve to survive. That’s the crisis facing all organisations throughout the global pharma industry in 2021, and those who implement new operational models and technologies sooner will be far better positioned for adaptability and success.
In the full article linked below, SeerPharma's business partner MasterControl explores the following key topics:
Improved Data Access Expedites Drug Development and Approvals
In the frantic race to research, develop and distribute COVID-19 vaccines, regulators and pharma companies industrywide reached the same conclusion: nothing is more important than up-to-date, accurate data. Although drug development speed may have been the most concerning issue to the public during the pandemic, regulatory heads like U.S. Food and Drug Administration (FDA) Commissioner Stephen Hahn have repeatedly stressed that new product acceleration must be tempered by the assurance of reliable data.
AI and Emerging Technologies are Game Changers
Once widely viewed as having revolutionary potential but few practical applications in traditional industry settings, artificial intelligence (AI) and other advanced technologies like deep learning and predictive analytics are yielding an increasing number of impressive, tangible results every day.
Resilience is the Key to Overcoming Supply Uncertainties
The pandemic magnified how issues occurring anywhere in the world — from shutdowns of active pharmaceutical ingredient (API) plants to government-imposed transportation restrictions — can throw an entire supply chain into disarray.
Infrastructure and Accessibility Upgrades Stimulate Agility
The most conspicuous lesson we’ve learned from COVID-19 is that a pharma business can only succeed if it has a digital infrastructure capable of supporting the flow of business processes when work is performed remotely. Companies that lacked robust remote access and virtual business process management and monitoring capabilities fell flat in 2020. Pharma leaders are preparing for the challenges of 2021 and beyond by moving forward full throttle to build on existing digital infrastructures, ensure secure connections and enhance real-time collaboration between remote and on-site workers.
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