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Life science, Technology and Pharmaceuticals | Abhishek Kumar Singh CEO Taj Pharma Mumbai
The past two decades in pharmaceuticals and life sciences has been a rather rewarding for the industry with several patent expiry and first generations bio-similar in the industry. The conventional model of pharmaceuticals industry to market the products in the traditional model may not work anymore. The industry has seen several new laws for doctors to write generic medicine only; “A generic drug is a medication created to be the same as an existing approved brand-name drug in dosage form, safety, strength, route of administration, quality, and performance characteristics”; Now, the primary process of marketing the products in the industry is seeing the turnaround to online prescription website; where patients can upload prescriptions and get home delivery of harmless meds; examples are 1mg.com and all the online medicine dispensing. The most common trends in the industry is ethical marketing; where a company markets a brand by doctors prescription; whereby other companies similar drug may be available in the market.
The modern practice at Taj pharma manufacturing requires strict compliance with WHO-cGMP norms and whereby plants needs to maintain digital data of all the products released; IT plays an important role in providing the backbone to any life sciences industry; by digital records maintenance, accuracy of data storage and data integrity for safety of the products. Having human life in question, pharma sectors needs to identify human errors by modern IT software and may help to streamline pharma products quality consistency which may lead to growth of small scale manufacturers.
The productivity of the industry primarily depends on reducing the human dependency and atomizing the manufacturing processes;
The use of IT systems can improve the following: · Increase media efficiency · Increase revenue per lead/customer · Boost contact & engagement rates · Drive sales & marketing team efficiency
