10 Nov Remember: AI doesn’t have a career to protect
The Financial Times’ annual Global Pharma and Biotech Summit was held in the now ‘new normal’ of hybrid online and in-person in London, but the topics of discussion were anything but routine. From the potential whole-scale disruption power of AI to drug discovery, clinical trials, market access and patient engagement, CEOs, policymakers and thought leaders came together to discuss the future of the industry.
Whilst discussion and analysis of AI was near ubiquitous across the three days, it was Paul Hudson, CEO, Sanofi, who sounded the note of caution that, whilst disruption technologies do have the potential to fundamentally improve healthcare, industry must be thoughtful in its application. The life sciences sector, for instance, would “never have known that a simple intervention now makes a world of difference in the future” as Hudson detailed Sanofi’s ambition to be the first pharma company powered by AI.
The theme throughout the conference was that industry is in a period of relentless innovation; the pandemic, Brexit, breakthroughs in long-held redoubts of science, most notably dementia, and the increasing pressures of changing and challenging demographic changes, have all acted as catalysts to fundamentally reshape healthcare as we know it.
The other constant was how regulators are responding to the pace, scale and ambition of industry. It is a truism that regulation always lags innovation, but at the Summit both NICE and the MHRA were keen to demonstrate that they are adapting to the emerging landscape. Samantha Roberts, CEO, NICE, tasked industry with a renewed focus on at-home diagnostics and how to utilise one of the unique advantages of the UK, its unified healthcare system, and the almost unrivalled ability to derive RWE.
Roberts also sought to strike both an optimistic and cautionary tone by underlining NICE’s global reputation – 17 other countries reference NICE’s decision in their own in-market guidance – but forewarning industry that VPAS is likely to see the UK be brought into line with other comparator markets.
June Raine, CEO, MHRA, presented an upbeat assessment, stating that it had been “absolutely vital to build back confidence” in the troubled regulator over the summer when backlogs threatened to overwhelm it. Indeed, Raine went as far to say “it is not the same regulator” and that it is now processing applications within statutory timelines and will meet the recommendations of the O’Shaughnessy Review.
The global life sciences sector is in a period of radical transformation, but it is still battling with many of its historic barriers; access and reimbursement, patient-centricity, trust, supply chains and a skilled workforce. Many of those present, and even more in the future, will dedicate their careers to helping solve those issues and deliver on many of the visions detailed.
Dave Talbot, Directer and Head of Public Affairs