Biography
Biography: Sakthivel Sekar
Abstract
The presentation will first explore the challenges facing bio-pharmaceutical industry. This includes brief discussion around: (i) global economy slump (ii) tougher regulatory atmosphere (price controls & reimbursement pressures; post-market surveillance; increased inspections and oversight - drug safety laws). (iii) dearth of blockbuster drugs; patent expirations and generics. (iv) malaise of pharmaceutical industry around restructuring, divestitures, cutbacks. (v) shift towards biologics, biosimilars &/or personalised medicines. (vi) electronic health records & globalisation of medical information. (vii) counterfeits & quality related issues eroding consumer confidence. (viii) manufacturers’ dilemma: invest, retreat or outsource. (ix) providers’ dilemma: concern for patient vs. cost of care., etc. Subsequently the presentation will substantially address ‘innovation as the preferred choice’ to grow as well as sustain a competitive edge in the market. The impact of biotechnology on the traditional pharmaceutical industry will be used as an example which predominantly revolutionised the pharmaceutical industry and how the management of pharmaceutical innovation today particularly differs from the conventional practices in the industry. Further debate on how & what the role of innovative management practices can have on bringing together the stakeholder needs and pharmaceutical business models. On the same note, but in extended/different settings: from a tech-transfer office’s perspective - systematically overview the journey of innovation (from scientific discovery to commercialisation). The need for development of ‘human social capital’ & ‘cultivation of the right culture’ to facilitate effectiveness in such journey. Discuss on best executive leadership practices to build a resilient & agile organization, achieving success in this transition, embanked on innovation.