The pharmaceutical and biotech industries are navigating complex challenges – and emerging opportunities
The landscape for the life sciences industry is changing. The COVID-19 pandemic, Brexit and the increasingly volatile geopolitical situation relating to the war in Ukraine are influencing the ability to develop, manufacture and distribute therapeutics.
All these factors have created numerous challenges for life sciences companies in the risks they face, in managing regulatory affairs, securing supply chains and demonstrating the value of their therapeutics. The panellists : Anusha Foy, KPMG; Richard Torbett, Association of the British Pharmaceutical Industry; Alan Morrison, MSD; Nigel Blackburn, Cancer Research UKIndeed, some side effects of tackling the pandemic are dragging the industry, For example, clinical trials are a crucial part of drug development and require significant cooperation with Britain’s National Health But various hangovers from the pandemic mean this process is now painfully slow and unable to cope with the sheer volume of...
Indeed, AI is playing an increasingly important role in diagnosis, drug discovery and management of treatment. It is already having an impact in cancer research, said Blackburn. “I believe AI will help us bring down the cost of drug discovery,” he says. He points to the Galleri trial running in the UK, in which AI-based algorithms analyse blood samples to potentially provide early diagnosis of up to 50 different kinds of cancer.
They are also expensive and healthcare providers must solve the problem of making sure innovations are available to everyone, not just to wealthy individuals or those living in rich countries .
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