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0:00
Hi, everyone. Today, we're going
to talk about the
future technologies
in biotech and
pharmaceutical companies.
This is Radi Haloub.
I'm an associate professor
and program lead for
the biotech and pharmaceutical
management program
at UCL Global Business
School for Health.
0:17
The aim of this session
today is to illustrate
the variations between companies
in the development
of new products.
I will also talk about
the application of
emerging technologies
that are shaping
the evolution of
the biotechnology and
pharmaceutical industries.
0:36
I will start with new
product development.
It's identifying and developing
small molecules
and macromolecules
that might help cure
illnesses and diseases
which is the core activity
of pharmaceutical companies.
The changes in the
environment impact innovation
within the industry
and influence
how these innovations
are perceived.
These innovation
initiatives define
the variations between companies
and affect their competitiveness
and potential for
market expansion.
It also affects companies'
ability to cope
with changes in the
scientific landscape,
and how they will diversify
their product
portfolios to remain
competitive and
sustain their revenue.
However, technology is not
always easy to obtain,
and suppliers rarely offer it
exclusively to a single company.
This has influenced
the relationships
between companies and prompt
the development of various forms
of technology sharing
through partnerships.
1:39
Now moving to the
future technologies
and the rationale for change.
Pharmaceutical and
biotech companies
are research-based industries.
The research is
constantly evolving,
and demands from healthcare
continue to change.
The technology is
driven by competition
and their ability to
sustain their business.
Miozza, Brunetta, and Appio
published an article titled
Digital Transformation of
the Pharmaceutical Industry:
A Future Research Agenda
for Management Studies.
They contributed and enriched
the ongoing conversation
around the digital
transformation
of pharmaceutical companies.
This transformation is
widely acknowledged
as a key factor in advancing
healthcare outcomes.
