The issue of medication shortages has been a growing concern globally, with the US experiencing a record high of 323 drug shortages in 2024, affecting over half a million patients.

These shortages can last for over two years, with manufacturing and quality problems being the primary causes, followed by supply chain gaps and downtime.

The lack of transparency in the pharmaceutical industry hinders efforts to address these shortages, making it challenging for healthcare systems to cope with the crisis.

In the US, 90% of prescriptions are for generic drugs, which are often the ones in short supply, with over 250 medications on the US prescription drug shortage list.

The year 2023 marked the worst year for shortages in about a decade, with prescription drug shortages leading to higher prices, a 16.6% increase.

Alternative drugs can be priced at least three times higher than the original drugs, causing economic burdens on patients.

The FDA has reported that manufacturing issues with Accord Healthcare contributed to a medication shortage, and Pfizer increased production by 40% to meet increased demand.

Healthcare providers have had to mitigate shortages by switching medication regimens, posing ethical issues of who gets available medication.

Cancer patients face potential treatment delays due to shortages, with 15 cancer drugs in shortage due to manufacturing issues.

The Biden Administration has recognized the shortage, and the FDA monitors the supply chain to address drug shortages.

A significant proportion of active pharmaceutical ingredient manufacturers are overseas, with 80% of them located outside the US.

Production and quality problems, as well as shipping issues, cause drug shortages, and pharmacies struggle to fill employee vacancies and cope with disruptions.

The pharmaceutical industry's lack of transparency and prioritization of short-term profit over production exacerbate the problem, with companies like Teva reducing production of generic drugs to focus on profitable products.

The US companies' reliance on foreign suppliers for raw materials causes fluctuations in the supply chain, leading to shortages.

Restrictions on generic drugs limit supply and investment returns, affecting patients with ADHD, cancer, and other conditions.

The FDA tracks drug shortages, with over 135 reported currently, and experts urge pharmaceutical companies to strengthen supply risk management.

To address medication shortages, healthcare authorities and pharmaceutical companies can work together to improve transparency, invest in sustainable practices, and develop resilient supply chains.

Collaboration across departments and stakeholder groups is key to investing in resilience and withstanding disruptions.

Data analytics and predictive modeling can be used to identify and manage risks, and investing in reliable IT infrastructure can strengthen technical resilience.

The development of a pan-European medicine reserve has been proposed as a solution to medicine shortages, which would enable countries to share resources and respond to emerging shortages.

Economic incentives can affect pharmaceutical industry production, and low-wage countries may produce medicines with low margins, highlighting the need for sustainable pricing models.

State-controlled drug reserves and secured supply chains with multiple manufacturers can help to prevent shortages and ensure patient access to essential medicines.

Technology can also play a crucial role in improving supply chain resilience, with digital platforms providing real-time data and enhancing transparency in supply chains.

Data analytics can help predict medication shortages and address them proactively.

Automation and analytics can be used in the pharmaceutical industry to create patient-centric ecosystems and improve supply chain transparency.

The use of digital technologies, such as artificial intelligence and machine learning, can help mitigate supply chain risks and improve operational effectiveness.

Investing in IT infrastructure and adopting digital transformation can strengthen resilience in the pharmaceutical supply chain.

Cybersecurity measures are essential to protect sensitive data and ensure the integrity of the supply chain.

Long-term resilience planning and risk management procedures are crucial in addressing medication shortages.

Digital supply networks can improve supply chain resiliency and agility by providing real-time data and enabling end-to-end visibility.

Advanced analytics and AI can identify critical problems and alternatives in the supply chain, reducing the risk of shortages.

Cloud platforms can manage the full data lifecycle for supply chains, enabling real-time data exchange and automation.

The use of digital platforms and data analytics can improve inventory management, reducing shortages and improving customer satisfaction.

Pandemic preparedness and investment in supply chain resilience can help mitigate the impact of global health crises on medication shortages.

AI and machine learning can enhance data processing and provide precise stock projections, helping hospitals and pharmacies manage their inventory more effectively.

Digital platforms can aggregate suppliers and customers, making healthcare more affordable for patients and reducing costs for hospitals.

Technology adoption can enhance productivity and efficiency in the biopharma sector, boosting access to lifesaving treatments.

Regulators can enable innovations to thrive, allowing digital platforms to increase manufacturing agility and data analytics to transform the biopharma sector.

In conclusion, medication shortages are a complex issue that requires a multi-faceted approach to address, involving improved transparency, sustainable practices, resilient supply chains, and the use of technology to enhance supply chain resilience and predictability.

The issue of medication shortages has been a growing concern globally, with the US experiencing a record high of 323 drug shortages in 2024, affecting over half a million patients.

Title:

Content: General Supervision
Elham Aboul Fath
Editor-in-Chief
Thank you for your patience.
General Supervision
Elham Aboul Fath
Editor-in-Chief
Thank you for your patience.
An Unexpected Catastrophe in the World ’ s Largest Country: The Complete Story of U.S. Drug Shortages
The deficit is at a record level.
According to data from the American Society of Health System Pharmacists and the University of Utah Drug Information Service, organizations began tracking drug shortages for the first time in 2001. Steady since 2021 – now reaching a record high of 323 drugs in the first three months of 2024.
Paul Abramowitz, CEO of the American Society of Health System Pharmacists, wrote in a blog post on Thursday: “It ’ s been a long time to end drug shortages, ” and wrote:“ All drug classes are vulnerable to shortages, some of the most worrisome shortages include sterile injectable generic drugs, including cancer chemotherapy drugs and emergency drugs stored in hospital vans and procedural areas. It is dangerous for doctors and patients. ”
In addition to the 32 chemotherapy drugs that are deficient, the five categories of drugs with the greatest deficiency include central nervous system stimulants, antimicrobials, hormonal agents, and intravenous fluids. [1] The Drug Deficiency Database maintained by the American Society of Health System Pharmacists and the University of Utah is based on voluntary reports from practitioners, patients, and others that have been confirmed by manufacturers. The U.S. drug is in short supply, because it captures broader effects on service providers and patients.
The crisis has lasted a year and a half.
More than half of the treatment shortages have lasted for more than two years, according to an analysis by health consultancy IQVIA, and the average shortage affects at least half a million patients, many of them elderly, according to the US Office of Health and Human Services under the Assistant Secretary for Planning and Evaluation, which shared its analysis with Congress in May.
Growing demand can play a role in drug shortages, as with the recent shortage of weight-loss drugs, but often manufacturing and quality problems, such as supply chain gaps and downtime, are the root cause. And varied.
But the American Society of Health System Pharmacists has “serious concerns ” about parts of this proposal, especially financial sanctions imposed on hospitals that lack the resources to comply with the recommendations, Abramowitz wrote:“ We all know that managing shortages is not enough and is not a sustainable solution to the worsening crisis, and there is still a lot of work to be done at the federal level to fix the root causes of drug shortages. ”
Why Shortage Occurs
Shortages can be caused by high demand, as with the recent shortage of weight-loss drugs, but this is not usually the main problem.
The FDA also blames manufacturing and quality problems, supply chain gaps, and downtime, and Dr. Emily Tucker, a drug shortage expert and an assistant professor of industrial engineering at Clemson University, says that when there is an indication of shortages, large health systems often also proactively place large orders, adding to the system ’ s stress.
“I don ’ t blame anyone.
“When I talk to all the stakeholders – whether it ’ s wholesalers, manufacturers, or the government – everyone wants this problem to end, ” she said.
Lack of transparency
Dr. Julie Grallo, chief medical officer and executive vice president of the American Society of Clinical Oncology, told the House Committee earlier that the shortage puts providers in a terrible position: “The drug shortage crisis is forcing providers to make impossible choices, and it is also hindering the development of new drugs. Health drugs are purchased only on a price basis, and manufacturers do not have to disclose the source of their acquisition of the ingredients.
The shortage of this generic chemical drug came due to the closure of one factory in India that manufactures the active ingredient after a surprise FDA inspection found “significant quality issues, ” says Jarallo:“ We didn ’ t know, and there was no transparency regarding the company ’ s supply of the majority of active pharmaceutical ingredients to all manufacturers across the board.
Knowing this in advance, we could have responded much faster, ” Dr. Steven Schundlemeyer, director of the PRIME Institute of the University of Minnesota School of Pharmacy, which focuses on economic and management issues, told the committee that as with defense contractors in the United States, New Zealand requires manufacturers to disclose their suppliers, and that information is required.
Easily accessible in the database.
Related Topics

These shortages can last for over two years, with manufacturing and quality problems being the primary causes, followed by supply chain gaps and downtime.

The lack of transparency in the pharmaceutical industry hinders efforts to address these shortages, making it challenging for healthcare systems to cope with the crisis.

In the US, 90% of prescriptions are for generic drugs, which are often the ones in short supply, with over 250 medications on the US prescription drug shortage list.

Title:

Content: Prescription drug shortages lead to higher prices

Reporter: Andryanna Sheppard
Published: Updated:
Lea este artículo en Noticias WINK

Millions of people in the United States depend on prescription drugs to manage pain, treat medical conditions, and even to help them stay alive. However, the country’s drug shortage is making it hard for some people to get the medication they need or pay for the drugs that are available.

Federal Drug Administration data shows 90 percent of prescriptions in the US are for generic drugs. According to the National Institutes of Health, most prescription drugs involved in shortages are generic options.

There are currently more than 250 medications on the nation’s prescription drug shortage list, according to the American Society of Health-System Pharmacists. The organization says 2023 marked the worst year for shortages in about a decade.

Jessica Kahn’s two sons were diagnosed with ADD.

“I would say tricky, tricky to navigate,” Kahn described.

For the past year, Kahn said getting their medication has been frustrating.

“I have my list of all the pharmacies. I’ve even driven all the way up north to Walgreens or a CVS, some random place to go pick up a kids’ prescription,” Kahn added.

According to the FDA, prescription drug shortages are often linked to manufacturing and quality problems, delays, and discontinuations. Two drugs used in chemotherapy, Adderall, lidocaine, and amoxicillin are just a couple of the prescription medications on the shortage list.

When drug supplies are low, prices tend to increase. According to the US Department of Health and Human Services, there is a 16.6 percent increase in the price of drugs involved in a shortage. And in some cases, alternative drugs were priced at least three times higher.

“You got to be very conscientious that it might not be available and that it is not an option,” Kahn advised. “No matter how many places you call, it’s not there.”

Beating the prescription drug shortage

Health experts offer these tips:

  • Check the national drug shortage list for your medication and possible alternatives.
  • Don’t wait until your prescription is almost gone to refill it.
  • Check other pharmacies for availability and if you can’t find the generic version, look for coupons or programs that offer payment help. Some patients have reported that they receive additional help to reduce some prescription costs from $100 to $10, it’s not allowed if you are already on Medicare.
  • Websites and apps like GoodRX, RX Saver and WellRX can help you find the cheapest place that has your medication and coupons for it.

Contributors to this news report include: Lindsay Dailey, Producer; Bob Walko, Editor

Copyright ©2024 Fort Myers Broadcasting. All rights reserved.

This material may not be published, broadcast, rewritten, or redistributed without prior written consent.

The year 2023 marked the worst year for shortages in about a decade, with prescription drug shortages leading to higher prices, a 16.6% increase.

Alternative drugs can be priced at least three times higher than the original drugs, causing economic burdens on patients.

The FDA has reported that manufacturing issues with Accord Healthcare contributed to a medication shortage, and Pfizer increased production by 40% to meet increased demand.

Title:

Content: NORTHAMPTON, Mass. (WWLP) – While this shortage of chemotherapy drugs stretches across the country, 22News looks at how the limited amounts of potentially life-saving drugs are impacting cancer care in our area.

It’s a problem, so acute it was recognized by the Biden Administration just last month. The White House noted there’s a shortage of 15 cancer drugs due to manufacturing and supply chain issues.

22News asked Pharmacy Director Michelle Kososki at Mass General Brigham Cooley Dickinson Hospital, to rate the shortage experienced locally on a scale, 5 being a critical shortage and 1 being no shortage at all, “right now I would probably say it is a four. We only have a very small supply of one particular drug.”

Pharmacy Director Michelle Kososki said drug shortages are not uncommon in the healthcare industry however, when faced with potentially life-saving drugs it can get complicated, “Anytime there is a shortage, there’s a risk of not being able to treat patients. Obviously, that is something we want to avoid and we work to the best of our ability with creative solutions to make sure that doesn’t happen.”

Nurse Manager Lisa Martensson at Mass General Care Center at Cooley Dickinson Hospital told 22News, “There’s always the ethical issues of who gets the drug that’s available. It’s supply and demand as you said and looking at what folks had for their disease which ones needed to be treated faster than others based on the aggressiveness of their disease. Those things played in but it was a really difficult decision to sit down and try and decide who would get the drug. We were never in a position where we had to deny anybody.”

Cancer patient Norman Uzdavinis of Whately said he was very concerned when he first heard of the shortage, “I had wondered where in the chemotherapy I would be at, would it have to be delayed for months or years if possible.”

Uzdavinis has not had his medical care compromised but feels for those who have, “I feel for them. I know what I’m going through and that everything is here so it’s perfect for me, but there’s a lot out there that are not as fortunate. I know that.”

“Healthcare providers here were able to mitigate the shortage by using a couple of different tactics. For example, they could switch up a patient’s medication regimen,” Nurse Manager Lisa Martensson said.

“What we did do was use drugs that were in the same classification but not necessarily that specific drug. There are also drug regimens where we could switch around the order to which we gave the drugs so if there was a drug that wasn’t available we are able to do one of the drugs that was available first and do that second drug second. That was able to work out so people didn’t do without and they were able to get what they needed,” Martensson continued.

According to the FDA, the shortage started when one of the major manufacturers of the chemo drug, Accord Healthcare, a company based in India, had to shut down after problems complying with good manufacturing practices were found during an inspection. Now, there is an increased demand from other companies that make these kinds of drugs.

22News contacted some other of the manufacturers of these drugs. Pfizer said they are increasing production by about 40 percent to meet this increased demand.

Local News

Alanna Flood is a reporter who has been a part of the 22News team since 2022. Follow Alanna on X @alannafloodnews and view her bio to see more of her work.

Healthcare providers have had to mitigate shortages by switching medication regimens, posing ethical issues of who gets available medication.

Cancer patients face potential treatment delays due to shortages, with 15 cancer drugs in shortage due to manufacturing issues.

The Biden Administration has recognized the shortage, and the FDA monitors the supply chain to address drug shortages.

Title:

Content: US supply chain crisis continues, FDA points to 111 drug shortages
Global Social Hotspot 16: 35 2021 / 12 / 05
Share:
The supply chain crisis in the United States continues, and many goods are facing shortages.
The US media said that the US pharmacies have a number of critical prescription drugs in stock. The US Food and Drug Administration (FDA) pointed out that about 111 drugs are out of stock in the United States. The FDA stressed that it will continue to take measures to monitor the supply chain.
【 Omicron variant 】 Travellers must have a negative test within 48 hours for entering the United Kingdom 【 Next 】
The Federal Reserve warned on Wednesday that large parts of the United States had begun to be affected by supply chain disruptions and labor shortages last month.
According to the FDA website, 111 drugs are out of stock in the United States, including the heart disease drug digoxin injection, the chemical drug Dacarbazine and some antibiotics.
The authorities say there are many reasons for the shortage, including production problems, quality problems, drugs and even the suspension of production.
According to the FDA, about 80% of the manufacturers of active pharmaceutical ingredients are located overseas, and the manufacturers have provided the FDA with most of the drug shortage information.
The Administration will also work closely with these manufacturers to address the drug shortage.
【 Omicron variant 】 Study: Omicron carries a cold virus gene or helps avoid the immune system 【 Next 】
Long Island Newspaper Newsday quoted Tom D'Angelo, president of the New York State Association of Pharmacists, as saying the shipping of a large number of medicines, including those for common blood pressure and for the treatment of colds and flu, was blocked.
Because of supply chain problems, the owner of a New York drugstore said there were fewer brands for some drugs, including Ibuprofen.
The National Association of Community Pharmacists (NCPA) released a survey last month that found that most non-chain pharmacies are struggling to fill employee vacancies and cope with supply chain disruptions.
Sixty percent of pharmacies surveyed said they were dealing with supply chain disruptions, and nearly 70 percent said it was difficult to fill staff vacancies.
Stay abreast of the latest development of mutant virus and epidemic vaccine, download the Hong Kong Economic Times App for free now 【 Click here
Editor-in-Chief: Cheng Kam-ling
Follow the latest financial news analysis, like hket Facebook
Subscribe to the Hong Kong Economic Times email newsletter
Receive first-hand financial news Learn more about investment and financial knowledge Submit my consent to receive promotional messages from Hong Kong Economic Times Group. You may also check the privacy policy of this website Terms of Use

A significant proportion of active pharmaceutical ingredient manufacturers are overseas, with 80% of them located outside the US.

Production and quality problems, as well as shipping issues, cause drug shortages, and pharmacies struggle to fill employee vacancies and cope with disruptions.

The pharmaceutical industry's lack of transparency and prioritization of short-term profit over production exacerbate the problem, with companies like Teva reducing production of generic drugs to focus on profitable products.

Title:

Content: International
International News
Dependent on foreign raw materials fluctuate, big pharmaceutical companies chase short-term profit loss production
The shortage of ADHD drugs is just the tip of the iceberg of the current drug shortage in the United States. According to the FDA, more than 135 drugs are in short supply, including chemotherapy drugs for cancer.
A survey released by the American Society of Health System Pharmacists (ASHP) in early August showed that one-third of the 1,100 hospitals surveyed had no prescription, delayed or reduced prescriptions due to drug shortages to meet the supply window.
Expert analysis, pharmaceutical companies to pursue short-term profit first business model, so that the production of life-saving drugs and demand out of line, drug shortage problem is difficult to improve.
Experts urge pharmaceutical companies to face social responsibility
Rita Numerof, a medical industry consultant, wrote in Forbes magazine that in order to reduce costs, US pharmaceutical companies have long relied on foreign suppliers such as China, India and Italy to import raw materials for the production of drugs, which is prone to fluctuations in supply. They are looking to develop drugs that are more likely to be used for long-term diseases.
Teva, a manufacturer of ADHD drugs and the world ’ s largest generic drug manufacturer, announced earlier that it would reduce the production of some generic drugs and focus on more profitable products. Rumelove warned that if pharmaceutical companies are unwilling to address their social responsibilities and strengthen supply risk management, public trust in the pharmaceutical industry will continue to weaken, and ultimately public health and safety will pay a heavy price.
Focus on the organization to accelerate the use of new generic drugs to increase production incentives
The American Association for Access to Medicines (AAM) released a report last month, saying that because of restrictions on the supply of generic drugs, the supply price of generic drugs is limited, and the return of investment in new drugs is not high. The situation.
(Forbes / DrugTopics)
(Global Hot Talk)
Related Words: Adderall Drug Shortage Attention Deficit and Hyperactivity Disorder (ADHD)
Previous / Next News

The US companies' reliance on foreign suppliers for raw materials causes fluctuations in the supply chain, leading to shortages.

Restrictions on generic drugs limit supply and investment returns, affecting patients with ADHD, cancer, and other conditions.

The FDA tracks drug shortages, with over 135 reported currently, and experts urge pharmaceutical companies to strengthen supply risk management.

To address medication shortages, healthcare authorities and pharmaceutical companies can work together to improve transparency, invest in sustainable practices, and develop resilient supply chains.

Title:

Content: Resilience, sustainable supply chains are crucial to pharma sector

Sustainability and innovation are the main forces behind the pharmaceutical industry's transformation from suppliers to innovators. The panellists participating in The ETPharma’s Future-Ready Pharma Supply Chain Summit discussion on ‘Trilogue: Navigating Sustainability, Risk, and Resilience in Pharma Supply Chains’ emphasised the importance of sustainability, as it is both a competitive advantage and a moral requirement. Pharmaceutical firms can reduce risks, improve their brand, and attract more environmentally concerned customers by investing in sustainable practices and technologies.

  • Exclusive

It's a free Content, simply login/signup to unlock

Get in-depth Industry Insights and Analysis through our “Exclusive” content, presented to you by our esteemed panel of writers, for free

By continuing, you agree to the Terms & Conditions and acknowledge our Privacy Policy. This same account can be used across all Economic Times B2B portals.

  • Updated On Mar 15, 2024 at 05:33 PM IST
By Prabhat Prakash & Prarthana Sharma

Mumbai: Resilient supply chains are crucial for the pharmaceutical business in an era of global uncertainties like pandemics, geopolitical tensions, and environmental challenges. With the increasing global dependence on pharmaceuticals, it is critical to guarantee a consistent and unbroken supply of vital medications.

Advt
The ETPharma’s Future-Ready Pharma Supply Chain Summit, themed ‘Resilience, Integrity, and Sustainability’ featured an insightful panel discussion on ‘Trilogue: Navigating Sustainability, Risk, and Resilience in Pharma Supply Chains’. The panellists for the session included Sanjay Kumar, Chief Strategy & Sustainability Officer, Granules India Limited; Chirag Mehta, Chief Financial Officer, Bharat Serums and Vaccines Limited; and Sugeet Chopra, SVP, Global SCM, Strides Pharma Science Limited. The discussion was moderated by Shantanu Bhadkamkar, Chairman, Maharashtra State Development Council, ASSOCHAM.

continued below
Sustainability and innovation are the main forces behind the pharmaceutical industry's transformation from suppliers to innovators. The importance of sustainability was emphasised by the panellists as both a competitive advantage and a moral requirement. Pharmaceutical firms can reduce risks, improve their brand, and attract more environmentally concerned customers by investing in sustainable practices and technologies.

Advt
Starting with the discussion, Bhadkamkar emphasised that developing an organisational culture of collaboration across various departments and functions, putting employee growth and well-being first, and proactively identifying and mitigating risks before they worsen are all important aspects of investing in resilience. Organisations can guarantee that their staff is competent and driven, able to drive innovation and adjust to changing circumstances. When different viewpoints are brought together through cross-functional collaboration, problem-solving and decision-making become more efficient.

He also said that improving resilience in the pharmaceutical sector requires investing in sustainable practices and implementing a sustainable approach to business operations. Sustainable practices cover a wide range of topics, such as ethical raw material procurement, ecologically friendly production techniques, and conscientious waste management. Pharmaceutical firms can lessen regulatory risks, improve stakeholder relations, and lessen their environmental impact by putting sustainability first.

The panellists emphasised the significance of resilience in navigating the ever-changing global markets, which is characterised as the capacity to handle changes without negative consequences. As they emphasised the necessity to anticipate and prepare for unforeseen events, such as supply chain interruptions or geopolitical concerns, while maintaining a careful balance between efficiency and reactivity.

As the discussion continued, it emphasised organisational, technological, and cultural obstacles as impediments to developing resilient supply chains. A narrow focus on immediate profitability and a lack of attention to resilience in corporate goals were examples of cultural impediments. The requirement for improved data analytics and technology adoption to effectively forecast and manage hazards was the main source of technological hurdles. Resilience was also shown to be hindered by organisational constraints, such as transactional ties with suppliers and compartmentalised operations.

To tackle these obstacles, the strategy needs to underline the necessity of top-down leadership commitment to fund, prioritise, and cultivate a collaborative and innovative culture. The adoption of technology was emphasised as being essential for gathering insights and controlling risks, especially in data analytics and predictive modelling. Furthermore, it incorporates flexibility and redundancy.

Mehta added that the key to strengthening an organisation's ability to manage risks, including geopolitical uncertainties, is to keep operations sustainable. He highlighted how crucial it is to take preventative action to deal with anticipated problems like geopolitical tensions, economic volatility, or regulatory changes, how dynamic business settings are, and how businesses must constantly innovate and change to be resilient and sustainable in the face of changing conditions.

He further added that investing in reliable IT infrastructure and data security measures is one of the many components that go into building resilience. An organisation can strengthen its technical infrastructure to stave off interruptions and cyber risks by allowing employees to invest in IT systems. To protect sensitive data and vital activities, this entails putting advanced monitoring systems, data encryption, frequent backups, and cybersecurity measures into place.

Chopra highlighted a difficulty faced by firms in supply chain management where the focus is often constrained to short-term goals and immediate concerns, leaving out the need for long-term resilience. He highlighted that resilience entails not just withstanding disruptions but also efficiently recovering from them. The ability of a system to tolerate disruptive influences without failing is referred to as resistance. In the meantime, recovery refers to the system's ability to recover from these disturbances, return to normal operation, and adjust to new conditions. These elements work together to provide resilience, which enables systems to overcome obstacles, withstand shocks, and eventually prosper in the face of difficulty.

Resilience and sustainability are becoming crucial requirements for pharmaceutical supply chain management. The COVID-19 epidemic prompted industry participants to reassess their plans by serving as a sharp warning of the vulnerabilities present in global supply chains. It is critical to create robust supply chains that can handle disruptions without suffering negative effects. Resilience in supply chains is comparable to a sponge that absorbs force without breaking; it requires strong risk management procedures, technological investment, and capacity planning.

A new era of decision-making in the pharmaceutical sector is being ushered in by innovation, notably in the use of new technologies. Businesses are using cutting-edge technology, such as machine learning and data analytics, to improve operational effectiveness and foresee potential difficulties. This focus on innovation goes beyond technology to include sustainability programmes meant to lessen their negative effects on the environment and promote accountability in business.

Environmental, social, and governance, or ESG, aspects are becoming more and more important in the pharmaceutical sector, having an impact on corporate strategies and investment decisions. A growing number of investors are giving companies with robust ESG policies a top priority, seeing the long-term benefits of sustainability programmes. Promoting an innovative culture and advancing sustainability goals inside firms depend on effective communication.

Global trends and changing market demands are causing major changes in the pharmaceutical business in Indonesia and India. Opportunities abound for firms eager to embrace innovation, sustainability, and resilience in this changing world.

The panel concluded on the note that resilience and sustainable supply chains are crucial as the pharmaceutical sector continues to negotiate in a challenging and quickly changing environment. By adopting sustainability, innovation, and resilience as guiding concepts, businesses can reduce risks, grab expansion possibilities, and set themselves apart from competitors. To protect public health and guarantee a sustainable future for all stakeholders, the industry experts' insights highlight the necessity of proactive policies, cooperative collaborations, and continuous investment in creating resilient and sustainable supply chains.
  • Published On Mar 15, 2024 at 05:33 PM IST

Most Read in Pharma Industry

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETHealthworld App

  • Get Realtime updates
  • Save your favourite articles

Collaboration across departments and stakeholder groups is key to investing in resilience and withstanding disruptions.

Data analytics and predictive modeling can be used to identify and manage risks, and investing in reliable IT infrastructure can strengthen technical resilience.

The development of a pan-European medicine reserve has been proposed as a solution to medicine shortages, which would enable countries to share resources and respond to emerging shortages.

Title:

Content: The Chairman of the World Medical Association (WMA) Frank Ulrich Montgomery, against the background of a shortage of certain types of drugs, called for the creation of a pan-European reserve of medicines.
This opinion he expressed in an interview published on Monday to the media group Funke, reports Day.Az with reference to TASS.
Montgomery noted that the shortage of medicines has been increasing for more than 10 years.
“The reason is misplaced economic incentives for the pharmaceutical industry, ” he said.
“For consumer goods that are not subject to patent protection, margins are estimated to be low, ‘ big pharmaceuticals ’ are no longer interested in these drugs and are shifting production to low-wage countries such as China or India.
If there is a factory burned down, the main substance is lost or there are defects in quality - suddenly the medicine will disappear all over the world, "said the head of the WMA.
A reserve of drugs at EU level as a “commitment to the pharmaceutical industry controlled and managed by the state and the medical community, ” according to Montgomery, should be created immediately.
In addition, politicians should return production sites to Europe with appropriate economic conditions.
Supply chains must be legally secured by several drug manufacturers.
Last week, pediatricians from several European countries wrote a letter to their health ministers condemning the shortage of medicines.
The German Ministry of Health recently officially announced a shortage of juices with antibiotics for children - this means that import rules can be relaxed.
The World Medical Association is an international organization, which includes more than 100 national associations of doctors, including the Russian one.
It is engaged in the development of ethical standards in medical activities, mandatory for doctors of all countries.
The association was established in 1947.

Economic incentives can affect pharmaceutical industry production, and low-wage countries may produce medicines with low margins, highlighting the need for sustainable pricing models.

State-controlled drug reserves and secured supply chains with multiple manufacturers can help to prevent shortages and ensure patient access to essential medicines.

Technology can also play a crucial role in improving supply chain resilience, with digital platforms providing real-time data and enhancing transparency in supply chains.

Title:

Content: 7 essentials to create a resilient global healthcare supply chain

  • SARS, Ebola and COVID-19 have tested the world’s ability to deal with outbreaks and pandemics.
  • A global pandemic preparedness system needs sustained political will and investment to ensure the global healthcare supply chain can effectively respond to a crisis.
  • If we don’t get serious about pandemic preparedness now, millions more lives will be at stake.

It was 20 years ago, when the SARS outbreak exposed key fragilities in the global healthcare supply chain, that people internationally began to talk seriously about pandemic preparedness.

Eight years ago, when the Ebola outbreak proved the world no better prepared to address outbreaks, there was more talk and some action. This included the founding of the Pandemic Supply Chain Network (PSCN), by the World Health Organization, World Economic Forum, World Bank, World Food Programme, US Centers for Disease Control and Prevention, Henry Schein and more than 60 companies. The PSCN was established to make it easier to anticipate and respond to global healthcare supply chain disruptions.

Yet today, nearly three years into the COVID-19 pandemic – the worst global health crisis in a century – many of the same supply-chain fragilities remain. Although partnerships, such as the PSCN, and national efforts somewhat blunted the severity of supply chain disruptions during the pandemic, the effort to develop a global pandemic preparedness system has yet to garner the sustained political will and investment needed to ensure that the global healthcare supply chain can effectively respond to a crisis.

3. Improved stockpiles and inventory management

In addition to enhancing stockpiles of personal protective equipment (PPE) at the local, regional and national levels, we must manage inventory more intelligently – from cycling inventory to deal with product expiry to coordinating and harmonising responses across jurisdictions.

4. Platforms for data sharing and enhanced transparency

Through the globally-focused PSCN and various national efforts, including the US Supply Chain Control Tower, Henry Schein has been working across sectors to support the creation of market intelligence platforms that enable the appropriate sharing of real-time supply chain data. While progress has been made, encouraging responsible information sharing across public and private partners requires significant additional funding.

5. Fostering the free flow of goods

Over the past three years, government restrictions on exports played a significant role in exacerbating product distribution shortages. While the desire of governments to protect their populations in times of crisis is understandable, international cooperation to allow the free flow of key products lessens the risk of panic buying, hoarding and, ultimately, viral spread.

6. Coordinated early-warning system for outbreaks

Detecting the next outbreak early is essential to mitigating its impact, protecting global healthcare supply chains and saving lives. Strengthening our global surveillance capacity requires significant investment and better coordination across governments, international organizations and the private sector.

7. Strengthened health systems and better primary care

As Dr. Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization, famously said: “Universal health coverage and health emergencies are cousins — two sides of the same coin.” Major and sustained investment is needed if we are to reap the benefits of expanded access to care.

Let’s conclude with another number: one. This is the number of viruses it could take to shut down our world again. If ever there was an issue to unite us – one for which we all share the same risk – pandemic preparedness is it. If we don’t get serious now, millions more lives are surely at stake.

We are committed to Africa

Unlike many global publications, for nearly a decade we have been committed to showing a complete picture of Africa – not just a single story.  Offended by one-sided coverage of wars, disasters and disease, the founders of Africa.com created a website that provides a balanced view of Africa – current events, business, arts & culture, travel, fashion, sports, information, development, and more.

Will you support us?

Data analytics can help predict medication shortages and address them proactively.

Automation and analytics can be used in the pharmaceutical industry to create patient-centric ecosystems and improve supply chain transparency.

Title:

Content: How has the pandemic changed Pharma's outlook towards technology?

Pharma companies have created a more patient-centric ecosystem due to the increased use of automation, digital and analytical tools. They are now focusing on reorganizing their assets and supply chain with more agility and transparency.

By Gaurav Gupta

The Pharmaceutical industry has been a relatively slow respondent to the adoption of new technologies. However, the COVID-19 pandemic acted as a catalyst to this long-brewing revolutionary change of the industry, making it highly responsive and adaptive. Right from the entire supply chain to producing drugs and conducting clinical trials, pharma companies are relying on technology to create a digitally driven medical world. Many well-established pharma players have redefined their supply chain management, managing safety at work and following government orders while producing vaccines and drugs.

As a result, pharma companies have created a more patient-centric ecosystem due to the increased use of automation, digital and analytical tools. They are now focusing on reorganizing their assets and supply chain with more agility and transparency. As the sector moved towards the path of crisis management and recovery, companies have re-evaluated their business models and changed their outlook towards technology.

Digital engagement with doctors

The COVID-19 pandemic has proved to be a tipping point and changed the way doctors engage with patients. This has prompted pharma companies to redefine their approach to marketing to doctors. Before the onset of the pandemic, pharma representatives spent most of their time traveling and waiting outside of doctors' offices, which also affected their work efficiency and led to infrequent visits. According to a research report, doctors on average spare only about 40-45 seconds for a pharma representative that results in lesser interaction with the doctor. In the wake of COVID-19, healthcare practitioners have restricted physical meetings and moved to teleconsultation for remote patients’ screening. With doctor visits moving online as well as in-person consultation, pharma companies focus on both physical and digital interaction through calls, video, text, email, and WhatsApp messages.

As per a recent report, doctors in India prefer communication via WhatsApp which has more than 3.5 times higher click rate than email and 24 times higher rate than SMS. Considering the opportunities in digital communication tools, pharma marketers also focus on sharing engaging content with doctors through digital mediums. With this, the average engagement has reached 20+ doctors from 8 to 10 doctors a day.
On the other hand, the changes in the pharma industry due to technology adoption are revolutionizing patient engagement. Pharma companies emphasize crafting digital marketing strategies to empower patients with more information that increases their role in decision making and enables them to manage their well-being. Furthermore, the companies adopt the right patient engagement strategies to gather data and gain useful insights, which in turn improves patient experience and R&D.
Leveraging the use of data generated through medical devices

With a multitude of wearables, trackers, and sensors available in the market, it has become easier for pharma companies to gain insights into patient behaviour. The pharma players can take advantage of robust data sets to optimize clinical trials. Apart from this, the integration of AI in real-time medical devices and digitization of medical records (EMRs) have become critical components of clinical trials for pharma companies.

The availability of data sets creates significant Real-World Evidence (RWE) studies that reduce the clinical product development cycle. Based on patient’s characteristics and data gathered, pharma companies identify unmet needs of the medical world. Furthermore, data gathered from wearables help in decision-making at an early stage of product development that further helps in understanding how patients respond to a particular drug. As a result, the manufacturer gains speed and accuracy in product development while eliminating unnecessary costs.

Integration of AI in drug development

The Pharma industry experiences a high attrition rate in drug development. According to the National Institutes of Health (NIH), almost 50% of all experimental drugs fail in Phase III trials. To overcome these challenges, the pandemic has induced opportunities for pharma companies to integrate AI in their drug development process. AI uses personified knowledge and presents solutions to complex problems. Due to increased R&D costs, there is reduced efficiency and speed in drug development, causing a high attrition rate in new drug approvals. Thus, pharma companies are finding ways to collaborate with AI-powered drug discovery firms to improve the efficiency of drug development and bring revolutionary changes in the traditional development process.

Bottomline

Though the pharma industry was realizing the potential of advanced technologies, COVID-19 is the first humanitarian crisis that accelerated the adoption of digital practices in the industry. Digital Practices are not only helping pharma companies engage with physicians digitally, but it also helps in providing an improved and personalized customer experience. By opting for offline and digital marketing mix, pharma companies can realize the benefit of cost-saving and operational efficiencies even after the pandemic subdues. Consequently, it will empower pharma companies to ensure an efficient pharma marketing strategy.

By Gaurav Gupta, Co-Founder of Navia Life Care- a health tech startup

(DISCLAIMER: The views expressed are solely of the author and ETHealthworld.com does not necessarily subscribe to it. ETHealthworld.com shall not be responsible for any damage caused to any person/organisation directly or indirectly.)

Follow and connect with us on , Facebook, Linkedin

Sponsored Stories

      Partners:

The use of digital technologies, such as artificial intelligence and machine learning, can help mitigate supply chain risks and improve operational effectiveness.

Title:

Content: New Technology Will Help to Face Supply Chain Challenges

Article By : Alan Porter, Siemens Digital Industries Software

Advanced digital technologies will play key roles in helping electronics and semiconductor companies mitigate the risks and vulnerabilities associated with their supply chains.

The disruptions of global supply chain wreaked havoc throughout the electronics and semiconductor industries in 2022, making it difficult to source materials and operate efficient manufacturing and logistics ecosystems, shortage was followed. The shortage impacted numerous sectors and dented the availability of products such as mobility, smart devices, and computers.

Looking at Asia areas, 76% of the market’s growth will originate from APAC during 2020-2024, according to Technavio. The strong growth is due to increasing demand as well as continued high prices in the memory segment, while the design complexity of semiconductor components will be a major challenge, in the meantime, the pandemic, the ongoing ramifications of war in Europe, the decoupling of major world economies, as well as shifting geopolitical dynamics calling for the reshoring of manufacturing for key technologies – all of these challenges and more like them still to come, will play major roles in reimaging a new generation of global supply chains for electronics and semiconductor markets.

Alan Porter

However, turmoil often presents opportunities for innovation and improvement. And today, some companies are leveraging recent advances in digital technology to tackle tough challenges like the ongoing supply chain crisis. For the electronics and semiconductor industries, artificial intelligence (AI), cloud-based ecosystem collaboration, as well as model-based systems engineering (MBSE) are poised to play a major role in helping these companies overcome challenges associated with ongoing supply chain problems.

One byproduct of the rapid digitalization underway across virtually all global industries is data. And since data is the lifeblood of AI, digitalization paves the way for unique, AI-based techniques for capturing expert knowledge and leveraging past design data to develop surrogate models and AI-driven simulations that can help to speed up product development. But these techniques also hold great promise for tackling current supply chain challenges.

As AI technology continues to evolve and permeate both mature and new industries alike, its role in addressing supply chain challenges in the year ahead has become clearer. For example, AI can discern recurring or deviating patterns in data. It can use algorithms to calculate the ideal line for a supply chain, making it possible to determine more precise delivery dates. Further, industrial enterprises can integrate these analytical components in various ways to make their processes more intelligent and efficient. This kind of intelligent fusion of production and logistics presents a new degree of plannability and transparency that touches every link in the process chain.

Meanwhile, recent advances in and adoption of smart cloud enterprises provide electronics and semiconductor firms with more valuable tools needed to heal their supply chains. Today’s secure cloud merges industry and logistics through a cloud-based IT platform and provides cross-location, cross-enterprise integration of the supply chain partners.

In the cloud, everyone who needs to be there is there. Today’s intelligent supply chains merge industry and logistics through a cloud-based IT platform, providing cross-location, cross-enterprise integration of all supply chain partners. It is about live collaboration: everyone who needs to be there is there. Suppliers, OEMs, manufacturers, logistics experts, carriers, customs authorities, service partners, customers: they all have the same view of the same event at the same time. Cloud-enabled supply chains are quickly turning estimated time of arrival (ETA) into yesterday’s metric. The new standard in industry and logistics will be the precise time of arrival (PTA). Algorithms capable of analyzing data streams from participating partners in mere fractions of a second and continuously syncing data with the current event status are able to nail down exact arrival times, and all of this is made possible via cloud collaboration.

Model-based systems engineering also has a key role to play in helping electronics and semiconductor firms tackle supply chain challenges. Rather than constructing system models in PowerPoint or other applications. In an MBSE methodology, data is stored centrally with secure connections to other relevant information to constitute the system architecture – the roadmap for development processes from concept to manufacturing. MBSE also plays a key role in developing strategies for dealing with the growing complexity of systems engineering, specifically in the areas of production and supply chain. With the growing complexity of today’s electronics and semiconductor products, modeling the product, talent and processes involved in developing and shipping these products has become paramount.

MBSE can address the complete spectrum of model-based dataflows for systems engineering, helping companies orchestrate their engineering program to manage scope and minimize risk. In fact, MBSE is a prerequisite for the development of digital twins, which help ensure the seamless and secure provenance and sharing of critical data, while ensuring trusted traceability. MBSE practices can help companies model global supply chains themselves, leading to new insights that can help avoid future supply chain disruptions.

Finally, MBSE enables continuous virtual verification and validation of the intended product, combining functional and physical behavior. This allows companies to effectively deliver consistent execution with customers and suppliers — from planning and scheduling verification activities, performing analysis, configuration and management of test resources and equipment through to confirmation of regulatory conformance and product compliance.

Looking to 2023 and beyond, it’s clear that these advanced digital technologies will play key roles in helping electronics and semiconductor companies mitigate the risks and vulnerabilities associated with their supply chains by fostering collaboration, gathering, leveraging, and securing key data, and exploring innovative solutions while saving time and money.

About the Author

Alan Porter is the VP of Electronics & Semiconductors at Siemens Digital Industries Software.

Investing in IT infrastructure and adopting digital transformation can strengthen resilience in the pharmaceutical supply chain.

Cybersecurity measures are essential to protect sensitive data and ensure the integrity of the supply chain.

Long-term resilience planning and risk management procedures are crucial in addressing medication shortages.

Digital supply networks can improve supply chain resiliency and agility by providing real-time data and enabling end-to-end visibility.

Title:

Content: CloudCustomer ExperienceIndustriesIntegrationSupply Chain

3 top priorities for consumer goods companies

The consumer goods industry is being rapidly transformed by multiple, irresistible forces. External market realities driven by Covid-19 and supply chain disruptions have led to full ships and empty shelves for many categories in this sector. Consumer consumption habits and buying behaviors are changing and brand-driven direct-to-consumer programs are taking off. These major shifts are forcing consumer goods companies to focus on three pressing needs.

Digital supply networks

Building increased resiliency and agility in supply chain planning and execution has become the No. 1 priority of many consumer goods companies. Disruption of global supplies due to Covid shutdowns and labor shortages have forced them to look at sourcing and transportation in a new light. Realtime data about supply availability, transportation capacity and expected delivery dates has become essential to dealing with disruption and shortages. Creating real resiliency and agility requires ongoing investment in real-time data, advanced analytics and improved use of AI and machine learning (ML) to identify critical problems and possible alternatives early.

To achieve this, CPG companies require a modern cloud platform that helps manage the full data lifecycle, from information capture and exchange to integration and governance.  A digital supply network can provide these capabilities to companies both large and small and can deliver significant advantages. Organizations focused on implementing ethical sourcing programs, supply chain control towers and digital twins will find that a digital supply network can rapidly accelerate these kinds of data-driven programs.

Consumer goods companies are prioritizing supply chain investments for resiliency and growth, changing the legacy view of supply chain as a cost center. Gaining end-to-end supply chain visibility and diversifying suppliers and manufactures can improve performance. Creating deep integrations with partners helps create resiliency and agility in planning and execution, transforming supply chains into digital supply networks. This focus allows improved supply chain performance overall and is especially important as companies accelerate direct-to-consumer operations.

Autonomous supply chains (IoT/AI)

Data delivers deeper insights into the critical performance of supply chains. Companies are leveraging exponential growth in supply chain data to obtain more meaningful insights that help optimize processes and drive greater efficiencies. One of the major advantages of a digital supply network is the depth of integration and data exchange that is possible with trusted trading partners. Exchange of data on supply, demand and logistics scheduling increases insight, accuracy and automation in operations. Enabling control towers to monitor performance and dashboards to deal with disruptions improves overall performance, product availability and customer satisfaction.

The increase in available data from the end-to-end supply chain will provide rich training sets for the application of AI and ML to the increasingly demand-sensitive and customer-centric supply chains in consumer goods. Realtime data enables the use of digital twins to better understand critical issues including inventory optimization, transportation planning and bottleneck detection. This provides a better understanding of the organization’s supply chain dynamics, behavior and performance. Improvements in automation and augmented decision making will continue to increase as labor shortages and inflationary pressures grow.

Direct to consumer

Integrating customer data, communications, media and messaging to create great personal journeys that engage customers is a challenge for this industry. In response, companies are launching direct-to-consumer (DTC) programs at a rapid rate, and omnichannel, data-driven engagement will only continue to grow in the years ahead. New DTC-only brands have disrupted whole categories with strong online services and social influencer-based engagement. Building a strong brand experience for customers is a priority for every consumer goods company. Successful DTC programs are dependent upon great customer experiences fueled by personal brand journeys. Brands that can personalize messaging and engage customers drive increased loyalty at the store and open the door to direct purchases and even subscription opportunities.

Consumer goods companies adopting a hybrid DTC-wholesale model will need to strike a balance between the two retail strategies. It is becoming clear that companies need to consider both paths to market to support improved growth and profitability.

Addressing these three priorities requires connecting people, systems and things in agile, extended ecosystems that allow companies to gain insight and optimize processes. This is driving the adoption of digital supply networks and autonomous supply chains as companies take advantage of the opportunity to easily connect with partners more deeply in a managed cloud community. Improved supply-chain performance also improves the customer experience leading to better loyalty and sales.

Not every integration partner can provide the scale, visibility and optimization to sufficiently address these priorities. Learn more about how OpenText solutions can help consumer goods companies achieve their goals.

Scott Lundstrom

Scott is a long time industry analyst, CIO, and software developer supporting complex regulated businesses in healthcare, life sciences, and aerospace. Scott founded the health industry practice at IDC Research and lead this group for 13 years. Scott also held leadership roles in research focused on AI, Cloud, SaaS, enterprise applications and analytics.

Related Posts

Back to top button

Advanced analytics and AI can identify critical problems and alternatives in the supply chain, reducing the risk of shortages.

Cloud platforms can manage the full data lifecycle for supply chains, enabling real-time data exchange and automation.

The use of digital platforms and data analytics can improve inventory management, reducing shortages and improving customer satisfaction.

Pandemic preparedness and investment in supply chain resilience can help mitigate the impact of global health crises on medication shortages.

AI and machine learning can enhance data processing and provide precise stock projections, helping hospitals and pharmacies manage their inventory more effectively.

Title:

Content: Transforming Hospital Supply Chain with AI and Automation

Medical supplies procurement is the second largest expense which constitutes approximately 1/3rd of a hospital’s Total Cost of Operations (TCO). Technology like AI can give precise stock projections so hospitals can purchase the appropriate quantity of medical equipment, devices, and consumables at the right time. Hospitals can reduce operational expenses in the procurement of medical supplies and manage inventories efficiently. This, in-turn, will make healthcare affordable for the patients.

Vivek Tiwari, Founder and CEO of Medikabazaar elaborates on the need to deploy automation in inventory management in hospitals as it helps to cut costs and bring in financial efficiency by saving on the Total Cost of Operations (TCO) and indirectly result in affordable medical bills for the patients.

How COVID 19 has exacerbated the stress on the healthcare system, causing a supply-demand crunch during an emergency situation. What was your role when the pandemic hit? Impact the pandemic has created in the medical supply chain space?

The outbreak of COVID-19 affected almost every business and healthcare, no matter how badly affected, has been up-front and centre of the world’s response in fighting the pandemic. Initially, there was a pressing need for medical equipment and supplies like ventilators, infrared thermometers, PPE Kits, masks, sanitizers etc., the use of which is now more widespread than before with extremely erratic demand-supply patterns across the country. This led us to create one platform which enrols both suppliers and customers of COVID-19 supplies, so we could aggregate accordingly. We devised the COVID Combat Collaboration Platform which brought together the COVID-19 product buyers, suppliers and experts on a single platform to address the huge demand-supply gap and host relevant and reliable information related to this disease.

During the second wave, when the oxygen crisis arose, we procured, delivered and installed oxygen supply systems like oxygen concentrators across India. As part of Project Breathe, we delivered over 10,000 oxygen concentrators to organisations, corporate and prominent hospitals like CMC Vellore, Apollo Hyderabad and Indore, Motherson and Medicover hospital.

We were involved with every stage of the Covid-19 era, right from incorporating modern testing booths at hospitals, installing beds at government recognised COVID centres, to supporting vaccination with VACCICOOL, our proprietary cold-chain vaccine transportation solution and ICU packages designed for COVID patients (adults and children).

Many healthcare digital platforms are coming up in the B2B space. How have you changed the Indian medical supply chain segments, if you can specify trends and changes you have brought into this segment?

While there are many emerging healthcare B2B digital platforms, we offer much more than just a marketplace in the form of our technological product offerings. There are multiple factors that differentiate us from every other competitor in the market.

Our marketplace is dedicated to making healthcare procurement easier, smarter and more efficient for hospitals and medical establishments, which would in turn help them provide care facilities at better prices for patients. The marketplace started with a few thousand products, but now hosts the largest catalogue of medical, dental and veterinary supplies, consumables, equipment and other devices, running up to more than 700,000 SKUs, serving over 18 countries, more than 200,000 customers.

We have successfully delivered over 500 million units to more than 20,000 pin codes across India and connected over 200,000 medical establishments and healthcare professionals globally.

As for costs we help hospitals unlock savings of up to 30 percent with smart-decision making tools like VPO and the patent-recognised AI-ML based inventory management system VIZI. We identify AI has a emerging technology opportunity that can benefit the businesses and healthcare organisations. We are developing cutting-edge research and technology to leverage these opportunities and help businesses. We are into conducting research, applying AI to products and to new domains, and developing tools to ensure that we leverage technology to transform the industry. VIZI and VPO have led to savings in many hospital chains like Jaslok Hospital, Fortis Hospitals, Wockhardt Hospitals, Sir HN Reliance Foundation Hospital, Apollo Hospitals, Artemis Hospitals and Max Healthcare.

With the help of finance partners, Medikabazaar is assisting healthcare providers set up hospitals with smart and easy payment options like revolving credit, no cost EMI, long term asset financing and more. And with our asset lifecycle management service MBARC, service thousands of equipment with our team of 100+ engineers.

Hospitals procure at cheaper rates, but patients are always charged with more margins. How do you see this?

Although hospitals provide a significant humanitarian service where they cure people from life-threatening diseases, they are also like companies with common operational expenses such as staff salaries, debts, etc. Medical supplies procurement is the second largest expense which constitutes approximately 1/3rd of a hospital’s Total Cost of Operations (TCO).

The reason for such high operational costs in procurement is due to offline supply chain systems which are still utilised by Indian healthcare facilities. Lack of channels for gaining product information, the limited scope of comparing them along with restrained communication lines between manufacturers and hospitals are some of the main limitations of offline procurement.

These disadvantages result in uninformed purchases by hospitals where they end up buying mid-quality supplies at disproportionate prices. This in turn severely affects patient care. Additionally, as hospitals purchase supplies at high prices, patients have to bear expensive medical bills making healthcare unaffordable for many in a country like India.

Automation of medical supplies: How does it help in Total Operational Cost (TOC) of a hospital? Can you explain to us how your procurement platform impacts the operating cost of hospitals, why do you think tier II and III hospitals should adopt online procurement of medical supplies?

Hospitals have an established and conventional procedure to procure their medical supplies where the purchase manager searches and reviews potential vendors. After the vendor is selected, hospitals contact them to inquire about their required supplies, negotiate prices, and then procure them. Such an offline procurement process can be complicated and costly.

The objective of medical establishments should be to make the procurement process qualitative, cost-effective which can allow them to save on their Total Cost of Operations (TCO) and indirectly result in affordable medical bills for the patients.

Since there is a lack of automation in inventory management, hospitals find it difficult to manage their inventories due to an erratic demand of medical devices for patient care.

With the integration of AI in our patented application, VIZI, we provide hospitals with precise stock projections so that they can purchase the appropriate quantity of medical equipment, devices, and consumables at the right time. This way they can reduce their operational expenses in the procurement of medical supplies and also manage their inventories efficiently without having to face excesses, shortages, and expiries in stock.

Our largest online catalogue of medical supplies and equipment that hosts over 700,000 SKUs of medical devices, equipment, and consumables, hospitals can choose their required supplies. With us acting as a single point of purchase, hospitals don’t have to contact multiple vendors and handle numerous quotations which save them valuable time and transactional costs. This way, medical establishments can save significantly in their operational expenses thus in-turn making healthcare affordable for the patients.

In India especially, medical facilities in tier-2, 3 cities, and remote locations can get their supplies via our efficient last-mile delivery, something which fragmented offline distribution systems have failed to achieve. Our online platform also provides flexi-finance options such as zero-cost EMIs and rolling credit limit for easing the payment process for healthcare facilities, thereby ensuring better accessibility and availability of medical supplies in tier-II and III hospitals.

What transformation will UK's CDC group new investment bring into Medikabazaar?

CDC’s investment in Medikabazaar will help to streamline the medical supply chain in India, resulting in improved availability of a wide assortment of medical supplies, transparent pricing and lower search costs for small providers. In turn, such products and services would enable these providers to meet the health needs of smaller groups and communities that live beyond large cities. Currently, about 50 percent of our sales are to smaller hospitals and nursing homes, and around 60 percent of the medical establishments that we serve are based outside metro cities.

The new investment is also helping augment our ability to pre-empt any further threat from another wave of COVID-19. Following the recent launch of our ICU packages for adults and children, CDC’s involvement will accelerate our effort to help medical establishments rapidly augment critical care facilities, in preparation for any furtherpandemics or health emergencies. Over and above their investment, we will also benefit greatly from CDC’s sector expertise to support us in scaling our operation across the country to deliver greater variety of essential medical supplies at affordable cost to more customers.

What are the key technologies trends that are increasingly changing the medical supply chain and how it will help in bridging the accessibility and affordability gap?

Supply chain management is one of the largest expensive business functions for healthcare service providers. One of the most effective ways to manage the healthcare supply chain is by using emerging technologies. Some emerging technologies that can impact the healthcare SCM include Intelligent AI and Analytics, Internet of Thing (IoT), Blockchain, and 3D Printing.

The use of AI in areas such as decision support for traditional inventory management has changed the way healthcare providers used to manage, interpret and analyse the data that they collect from various sources. Data analytics has shifted from descriptive to predictive and prescriptive analytics, which allow them to predict future events and decide the next course of action based on that intelligence.

Internet of Things (IoT)-enabled devices are revolutionising remote monitoring in the healthcare sector. Efficient remote monitoring of patients helps in reducing the length of hospital stays and prevents re-admissions. IoT also has a major impact on reducing healthcare costs significantly and improving treatment outcomes.

Blockchain can help healthcare providers in tracking and tracing the supplies remotely, efficiently and securely. Blockchain can also provide visibility and traceability of products across the value chain – right from the raw material provider to manufacturers to healthcare providers with detailed information about every step, without risks of data tampering.

With the help of 3D printing technology, it will soon be possible to produce products in mass, with the added functionality of adding personalisation. Healthcare is one of the sectors that can immensely benefit by adopting the 3D printing technology for various surgical items. 3D printing technology has the power to streamline the supply chain with mass production for quality care.

Follow and connect with us on , Facebook, Linkedin

Sponsored Stories

      Partners:

Digital platforms can aggregate suppliers and customers, making healthcare more affordable for patients and reducing costs for hospitals.

Technology adoption can enhance productivity and efficiency in the biopharma sector, boosting access to lifesaving treatments.

Title:

Content: 0

0

0

0

0

0

0

0

0

Building Resilience In Biopharma

The Global Biopharmaceutical Market is estimated to be USD 330.7 Bn in 2021 and is expected to reach USD 478.08 Bn by 2026. Despite the promising growth projections, the pandemic came as a reality check for the industry, leaving the leaders pondering over ways to build an ecosystem that can cater to any such unprecedented situation in the future. With the renewed sense of purpose, the industry is betting high on technology to adopt newer and advanced ways of drug development and bringing resilience in the sector as a whole.
To discuss the changing paradigm of the industry, thought leaders from the biopharma sector came together on a series of interesting panel discussions presented by CNBC-TV18 in collaboration with Cytiva. Hosted by Archana Shukla, Associate Editor, Pharma & Healthcare and Bureau Chief, CNBC-TV18, each of the sessions had eminent industry leaders on the panel who shared insights into the disruption in the sector and how innovation and technology are at the heart of the undergoing transformation.
The first session had a gripping discussion on, ‘Building Manufacturing Resilience in Biopharma’, Dr. Sanjay Singh, CEO Gennova spoke about the challenges the pandemic brought for the entire biopharma community and how the industry is using novel platforms to solve the problem. Raghavendra Goud Vaggu, GM Biopharma, South Asia, Cytiva, also outlined how technology adoption can give impetus to the manufacturing agility of biopharma industry and how Cytiva has been contributing in the same through its legacy of providing innovative solutions to the industry..
Dr. Mahesh Bhalgat, COO of Syngene Intl Ltd accentuated how AI and machine learning capabilities have been put to use in the industry. Commenting on the ways the emerging technologies are transforming the sector he said, “With improved speed along with data visualisation and data processing, an analyst can crunch data in almost real-time now, helping the sector to innovate and thrive in recent months.”
Regulators, too, have improved their stance and are enabling innovations to thrive. According to Sriram Shrinivasan, Partner and Global Emerging Market Leader, EY, regulatory bodies are now working with the industry in a way so as to shift their role from being gatekeepers earlier to enablers currently, adding that this is a very good sign for the industry.
Setting the stage for the second session on ‘Innovation Reboot: BioPharma Manufacturing’, Dr. Manish Diwan, GM & HoD, SPED, BIRAC – PSU of DBT said, “Biopharma has been one of the fastest-growing sectors over the past five years. The industry has recorded almost 55% compound annual growth over this timeframe and is set to grow another 22% in a few more years.”
Talking about the current focus on biosimilars in the industry, the role of biologics and biopharma in reverence to the disease burden and country’s population and the need for focus on innovator molecules in India Dr. Himanshu Gadgil said, “Biosimilars had a role to plan in increasing access as well as affordability for these lifesaving treatments which otherwise would have remained out of access for majority of Indian population and while doing so the biosimilar industry has setup all the know how that is required for bringing these complex molecules out to patients.”
The panellists also discussed various aspects of creating an ecosystem of innovation in the industry. Referring to a study that Cytiva conducted with 1100 executives in 20 key countries to understand the biopharma resilience of individual nations, Dr. Firman Ghouze, Marketing Director – Asia Pacific, Cytiva talked about measured index across five key pillars of supply chain resilience, talent pool, R&D ecosystem, manufacturing agility and government policy and regulation, and finding talent is a key bottleneck in the industry at present.
Highlighting the long time required in converting basic research into a product, Prof K J Mukherjee, Biochemical Engineering and Biotechnology, IIT Delhi opined that the country has excellent research in place, what is required is an ecosystem that facilitates seamless entry to market to lead innovation in the sector.
Looking into how India is positioned and what more needs to be done to make the country the biopharma capital of the world, the subsequent session titled, ‘Making India The Biologics Capital of the World’ brought spotlight on the issues and how India could become the world leader in biologics by bridging the gap.
Discussing the forward movement in development of Biopharmaceuticals India, Dr Rakesh Mishra, Director, Tata Institute For Genetics brought forth areas where the Indian biopharma industry needs improvement.
Agreeing to the renewed focus of innovation in the biopharmaceutical sector as it comes at centre stage of the current healthcare ecosystem, the panellists analysed the required support and need to harmonize the ecosystem under one digital umbrella. The centralisation, as discussed, will help in faster access of drugs to the patients.
Dr. Sundar Ramanan, SVP, Biotherapeutic Strategic Operations, Just-Evotec Biologics, mentioned we need to move from the concept of  “capital equipment and cheap labor” to that of  “skilled labor and robotics” to achieve the scale needed to be the global market leader in biotechnology space.  Francis Van Parys, VP, Commercial, Asia Pacific, Cytiva, also reiterated the significance of adoption of technology to enhance productivity and efficiency which can enable India’s manufacturing infrastructure make leaps and bounds of progress in addition to the great work that the country is already doing.
Scrutinising the challenges that Indian biopharma faces today with respect to differences in the clinical trial regulations between India and the other regulated markets, panellists agreed on harmonization of clinical trials regime as a solution for the problem. The panel also talked through the ways to attract investment and funding in the sector.
The engaging discussion series offered an intuitive perspective on how India can become the undisputed biopharma champion of the world in the years to come. Bringing the focus on the potential as well as the roadblocks in the growth path of the industry, every session took a deep dive into the industry.
This is a partnered post.
next story

Regulators can enable innovations to thrive, allowing digital platforms to increase manufacturing agility and data analytics to transform the biopharma sector.

In conclusion, medication shortages are a complex issue that requires a multi-faceted approach to address, involving improved transparency, sustainable practices, resilient supply chains, and the use of technology to enhance supply chain resilience and predictability.