Covid-19 also accelerated digitalisation, and the use of big data and data analytics, which have been critical in driving the patient-centric approach and customised patient solutions.
The pace of change in the past 3–5 years in the pharmaceuticals and healthcare has been unprecedented. To explore these changes and the reasons for them, Michèle Paque, Senior Advisor Healthcare & Life Sciences, PwC Belgium, interviewed Peter Guenter, Member of the Executive Board and CEO Healthcare, Merck KGaA. They spoke about key evolutions in recent years, challenges for the pharmaceutical industry, the need for further innovation, and driving value for patients.
Peter described the most notable recent changes as nothing less than technological revolutions. For example, Covid-19 fully validated a new technology to make vaccines – mRNA technology – in an incredibly short time. Other exciting technologies that have started to come to market include cell and gene therapies, heterobifunctional molecules, molecular glue and anti-body-drug conjugates (ADCs).
These years have also seen a change in investment focus, with a wave of developments focusing on major health challenges such as obesity, in parallel with a biotech funding crunch that has increased the difficulties of funding innovation.
Peter also outlined the shifting role of China in the sector. China is a new source of innovation, and the speed and productivity of clinical development there is impressive, he said, making China a strategic global player in biosciences today. He further pointed out the European Commission's responsibility to secure the competitiveness of the European pharma industry, and citizens' access to essential pharmaceuticals and innovative treatments, in this shifting ecosystem.
The importance of innovation cannot be overstated. For example, the whole world is facing the growing threat of antimicrobial resistance (AMR), commonly known as resistance to antibiotics. Although it is estimated that AMR already causes over one million deaths per year, it has been nearly 40 years since a new class of antibiotics reached patients.
Peter described some of the industry initiatives to address these and other challenges in the sector, and the need to ensure more equitable access to healthcare products across the globe, as well as specific measures Merck Healthcare is taking to fulfil its mission.
“The European Commission needs to think twice about the impact of over-regulation. What's at stake is securing the global competitiveness of the European pharma industry while ensuring that all European citizens have access to essential pharmaceuticals and innovative treatments.”
Peter Guenter
Member of the Executive Board and CEO Healthcare, Merck KGaA
For further insights into the changes in the global pharma ecosystem
Read our interview with Peter Guenter here
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