The Indian Pharmaceutical Market (IPM) was valued at Rs. 10,278 crs in the month of September 2016 clocking a strong 10% growth over same period last year (SPLY). On a MAT September basis, the industry was valued at Rs. 111,022 crores and reflected a 13% growth with volumes contributing around 40% of this growth and New Introductions playing an important role with around 38% contribution to the overall growth.
Patient Centricity, the most talked, least understood and poorly implemented strategy in our domain, if holistically approached and sincerely implemented, can truly transform and lead us towards a culture of ‘Healthcare is a Responsibility’. If every person in the life sciences organization at every level, is motivated, trained and equipped to understand, what is of value to the Patient and then strive towards co-creating, creating or contributing, we can travel a huge distance. Is this ‘Value’ paradigm implementable? Well, some are already doing it...
COVID-19 has accelerated the shift in how pharma was engaging with HCPs, professional organisations and even patients in India from a sales to more of a scientific, unbiased and balanced marketing communications. As one of the business leader from a prominent MNC said, “For the first time we are seeing a certain shift in HCP’s preference for scientific communication for innovators companies. MSLs and scientific operation teams will be playing a key role in the near future.”
DigiStorm 2018 was held on 11 September at the Lalit Ashok in Bangalore. The event was headlined by Prabir Jha – President & Global Chief People Officer, Cipla. Deep Bhandari – Editorial Board Member, MedicinMan, gives us the highlights of the post-lunch session.