1365: Why The Pharma Industry Needs to Transform Digitally

The Tech Talks Daily Podcast

From drug and device discovery and development to regulatory approval, drug reimbursement to lifecycle management – they all need to make smart decisions that give you an advantage in a fast-changing market.

The pharma and healthcare sector faces unparalleled upheaval: increasing pressures on research and development teams to show a better return on investment, difficulty keeping abreast of complex regulatory and pricing and reimbursement environments, and the race to get the best deal in a competitive business development arena.

Informa's Pharma Intelligence is the trusted partner of all of the top 50 global pharmaceutical companies and the top 10 contract research organizations (CRO's) – providing timely intelligence and insight to make authoritative decisions.

The pharma business model has worked for hundreds of years and was completely upended that because people are staying home, messaging people directly. How will tech help the industry adapt?

I invited Katleen Richardson to learn more about how technology is helping pharma companies to open their lines of communication and stop relying on sales representatives and doctors to reach consumers (whether this is through text messaging, chatbots, video messaging, etc.)

We discuss how pharma needs to understand the importance of one-on-one interaction, building relationships, and trust. I learn how pharma as an industry isn't inherently innovative; it focuses on product innovation as opposed to internal innovation.