According to Fujitsu, Research and development (R&D) spending
continues to increase exponentially, set to reach forecasted
levels of $200 billion per year by 2024. The discovery of new
therapeutic drugs is a slow, laborious and costly process taking
many years to develop new treatments. From target
identification to launching a new treatment in the market takes
12-15 years per drug.
This is impacting the industry, the medical profession and the
health of millions of people across the world. The need for
industry disruption was clear and critical before the current
pandemic and is even more so now. The question is how?
Writer
Bevin Likuyani
Bevin Likuyani is a pharmacist with a Master of Pharmacy in Pharmacoepidemiology and Pharmacovigilance and an MBA from the School of Business, University of Nairobi. He is also a Certified Supply Chain Professional (CSCP) from the American (Association of Supply Chain Management).
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