We wouldn’t blame you if the words nano-technology and artificial intelligence filled you with a little bit of trepidation – especially if your business was directly affected by your decision to embrace or resist the changes associated with life-influencing technology.
Talmix independent consultant, Mima, a qualified medical doctor and now independent consultant, talks to us about the future of healthcare, the effect of the rapidly-changing generic drug development market and why organisations are embracing independent talent to help them prepare for all that lies ahead.
An introduction to nano-technology in healthcare
“Upon completion of medical school, I realised that medical practice wasn’t the direction I wanted my career to take so I decided to pursue my MSC at the Imperial College London. I knew that my own ticket into the healthcare industry was not clinical practice, but rather something that ended up being much more life-changing for me”, Mima tells me. The 2009 economy crisis had just kicked off in Europe, Mima had decided to change her vocation as well as move from one country to another, and it was while studying at the Imperial College London where Mima’s first interaction with Nano-Technology in Healthcare happened. “I realised that I needed more than just a masters degree if I was planning to offer real value – I needed to learn from experienced people and decided working with other companies and their teams within the contracting space”. Mima tells me that the world of nano-technology in healthcare is very quickly developing, and the organisations in the medical device and drug-care development space are starting to realise the importance of being agile to adapt to new ways of doing things.
Mima specialises in the application of nanotechnology in drug development and strategy as well as due diligence, product competitor market strategy and how to connect with and best manage key stakeholders within the healthcare industry.
What challenges do organisations within the healthcare industry face today?
“Medium sized drug developers are creating and launching new product options, for both, generics and branded drug space. However, they face major challenges in deploying a valid proof of concept at the start of the development process. Meeting the needs of patient and physician audiences, who are placing their hopes in new treatments, is a process. They need and they want both, evident benefits/values and a track record that will deliver in the long-term. Some of the biggest generic drug producers are also dealing with pricing, which is why the race for the American generic drug market is on. Although the solution to a high-demand drugcare market may be to drive the price of generic products down, thereby providing seemingly easier access, this may not always be the best answer for all types of diagnostic and therapeutic products out there. There is a quantifiable limit for handling price pressure in a constructive manner,” she tells me.
What lies ahead for the healthcare and drug development sector?
Mima shares her thoughts on a key shift that lies around the corner for organisations in the drugcare industry. “The major shift that’s ahead for drug development and the way that drug developers work, is the application of artificial intelligence. Some of the biggest drug-production companies who are already miles ahead in their development within the US and UK, use some of the most intelligent algorithms in order to identify molecules in early stage, pre-clinical and clinical development to improve the whole process – all in order to cut down on cost and speed up the development process”. Mima goes on to warn organisations that if they aren’t following and embracing, accepting and applying AI in their drug development processes, whether it be generic, bio-similar or branded drug or a medical device, they risk lagging behind and possibly losing out on the market.
And when it comes to chronic disease management, manufacturers of chronic disease medication will need to accept the fact that, thanks to the evolution of generic drug producers, medication that was once sought-after and high-priced, will soon become nullified by competitor products in the market – as patients and physicians alike start to question the long-term benefit of so-called blockbuster medication and the effects they have on life extension, quality of life, effective disease management and more. They now have an audience who seeks more evidential proof of long-term success – as opposed to a one-hit wonder solution.
Mima also tells me that one of the biggest challenges facing the industry is simply full competitor awareness – both locally and globally. Organisations in this space need to develop a comprehensive insight and create realistic foresight relating to corporate and geographic competition in order to guarantee their own success.
So why should you work with Mima?
Mima sees the big picture. She is medically-trained and therefore understands the entire healthcare and drug development picture, to micro-level. She understands how molecules work in the body, how things react to each other – but she also understands the challenges and risks faced by the corporate and medical developers of new medication. She knows the terminology and relates and connects well to the science and corporate worlds and everyone in it. She has extensive experience of working with key stakeholder groups, and most importantly, offers an unbiased, independent thinking through her research and evidence – which is never subject to any individual’s influence. “What her clients pay for, they get. I find the truthful data and information – and I deliver objectively measurable value to all I work with”.
For your opportunity to work with the best in the Healthcare industry, get in touch with Talmix today.
About the AuthorMore Content by Katy Roberts