Shire CEO and Novartis CMO Weigh In On Trends For 2017: Trendsetter Series Part 3 of 4
By Rob Wright, Chief Editor, Life Science Leader
Follow Me On Twitter @RfwrightLSL
From The December 2016 Issue
What 13 Life Science Trendsetters Expect For 2017 And Beyond
When Life Science Leader magazine asked executives to participate in our signature 2017 Outlook issue published in December 2016, the response was downright overwhelming. While we thought last year’s issue was impressive, this year is certainly a step up. The 2015 cover feature involved nine biopharma trendsetters. In 2016 we raised the bar and are pleased to announce that we were able to get participation from 13 trendsetters, including pharma leaders, payors, and a representative from the NIH. But one of the difficulties such a response creates is it makes it challenging to publish all of this excellent thought leadership. Our solution was to produce four Cutting Room Floor articles. We hope you enjoy reading their thoughts in this supplement to the Life Science Leader magazine’s December 2016 cover feature. In addition, be sure to check out part 4 of this trend setter series: What Will The Global Biopharmaceutical Industry Look Like In 2027: Trendsetter Series Part 4 of 4.
Of trends that were anticipated as being big in 2016, are there any that will have an increased emphasis in 2017?
Vas Narasimhan, M.D., Global Head of Drug Development and Chief Medical Officer, Novartis
I think that in 2017 and beyond, we will continue to be challenged to innovate and adapt to the new realities of healthcare. We are faced with new challenges – an aging population, changing regulatory environments, as well as new opportunities, such as the increasing convergence of technology and healthcare. All of these factors push us to take a meaningful look at how we operate across the biopharma ecosystem and find areas for improvement. One of the most meaningful ways we can disrupt the industry is to seek out best practices beyond biopharma. We need to not only learn from other high-tech industries (e.g., aerospace, energy, and consumer), but serve as a hub to bring key players together to foster innovation and share knowledge.
Other than the usual suspects (i.e., Google and Apple), which nontraditional biopharmaceutical industry players will have the biggest impact on biopharma in 2017?
Flemming Ornskov, M.D., M.P.H, CEO and Executive Committee Member, Shire
Players like Fitbit and Garmin are interesting. Having started in the consumer market with a focus on wellness, they have now moved rapidly into real-time health monitoring, with potential implications and benefits for clinical studies and the gathering of real-world evidence. Shire’s digital vision and strategy includes partnerships with digital accelerators to scan the market for disruptive innovations that can, for example, accelerate the ability to identify patients with rare diseases, create efficiencies in our clinical trials, and lead to improved patient efficacy and safety outcomes with our medicines. We are also building an internal accelerator to identify the intersections of pressing business problems and leading digital trends, allowing us to create and iterate solutions in a “fast-trial, fast-failure” environment, apply successful solutions, and continuously improve.
In case you missed it, here are links to:
What Trends Will Have The Biggest Impact On Biopharma In 2017: Trendsetter Series Part 1 of 4.
How Biopharmas Are Addressing Key Trends For 2017: Trendsetter Series Part 2 of 4