Editor’s Pick
Dr. Jacky Vonderscher Co-founder & CEO
Quality Measures
Driving Innovation in Pharma Industry
Editorial
PharmaIndustryhassustaineddecadesofmodestgrowthalong
withahealthylistofhistoricalmedicalachievements.
TechnologicaldevelopmentsinthepharmaceuticalindustryfrompotentnewdrugchemistriestoinnovativeR&Dpartnershipsand marketingplansarereshapingtheindustrystrategiesofmany pharmaceuticalandbiotechnologycompanies.Accordingtothe recentlypublishedreport,thelastfiveyearsofThomsonReutersTop 100GlobalInnovatorslistconsistentlyreleasepharmaasoneofthe largestindustrysectorsrepresented.Thoughinnovationisthelifeblood ofanyindustry,thediscoveryanddevelopmentofnewdrugsare supplementedbyahostofuniquechallenges,ethicalimplications,and socialresponsibilities.Thefundamentalroleofthepharmaceutical industryinmaintainingandenhancinghumanlifeisfurtherexhibitedin theextentofitsR&Dactivity.Bysomeaccounts,pharmaceuticalR&D holdsanimpressiveshareofallbusinessspendingonR&Dworldwidearemarkablefinancialcommitmenttoasingleindustry.
Rankingpharmainnovationisn’teasy.Onetypicallyincludesnew drugsapproved,butthatonlygaugesquantity,notquality.Several attemptsatassessingqualityhavebeenmadeusingsuchcriteriaasnew modesofaction;therapeuticneed;medicalvalue;orimprovementover thestandardofcare.Whilesomeoftheseprovideusefulself-supporting insights,theacid-testofinnovationultimatelyistheimpactithason publichealth.ThomasReutersproposednewquantitativemeasuresof productivityandinnovationandusedthesetorepresentanindustrythat hasbecomemoreinnovativeandproductive.Theseinnovative measuresincludetwoquantitativestandardsoftheindustrybasedon theparameterscollectedformeasuringproductivityandinnovation.
Assessingthecurrentstatetheindustrybythesenewstandardswill allowamorequalitativeviewofthestateofthepharmaceutical industryandcanbeusedtomeasureimprovementsinbothproductivity andinnovation.Companieswithaninnovationedgewillhavea substantialcompetitiveadvantage.
Sugandha Sharma
Editor-in-Chief Pooja M. Bansal Ariana Lawrence
Senior Editor
Managing Editor Sugandha Sharma
Contributor Nikita Doiphode
Art & Design Director Victoria
Co-designer Alex Noel Visualiser David King
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Business Development Manager Mathew Smith
Marketing Manager Chris Nick Adams
Business Development Executive Pranita Mane
Research Analyst Jennifer David, Joseph, John, Mary
Database Management Steve
Technology Consultant Swapnil Patil Circulation Manager Robert
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Post-Genetic Era requires “Patient-First” approach from Pharma Industries
Recentyearshaveseenexcitingbreakthroughsinpharmaceuticalsciencesthatareproducinggenuinely noveltherapeuticsforunmetpatientneeds.Thechallengingmarketdynamicshavetransformedthe conventionalpharmaceuticalindustrymodelfromoneofdevelopinglow-costdrugsofincremental advantageforlargepatientpopulationstooneofefficient,high-valuemedicinesfortargeted,nichepatient populations.
Themostprosperousfirmsareshiftingawayfromatraditional,top-downmodelofproductpromotionand towardaflexible,interactiveapproach:“PatientsFirst,”whichgivespatientsbettertoolsandfullfocused informationonthedrugstheyaretakingandhowtocontroltheirconditions.Pharmacompaniesthatsucceedin patientengagementeffortsincreasetheirchancesofregulativeandcommercialsuccessasjudgmentsabout approval,prescribing,andmarketingofdrugsaremorecloselytiedtopatientresultsandneeds.Fromabusiness perspective,thischangeseverythingaspharmacompanieswillneedtobecomemoreproactivewithlarge patientscommunities.
Theneedforproficientpharmaceuticalsolutionprovidershasmadeuslookoutfor “The 10 Fastest Growing Pharmaceutical Companies 2017 ” Onthecoverpage,wehave Dr. Jacky Vonderscher,the Co-founder & CEO of ENYO Pharma,thatbringingnewopportunitiestothePharmaceuticalIndustry.ENYOPharmaisa biopharmaceuticalcompanywithaninnovativeapproachinspiredbyviruses,andthatleveragingvirusesto developfirst-in-classdrugcandidatesinmultipleindications.Theirbiotechmimicsvirusstrategyistomodulate hostcellularfunctionswithnumerousapplications.Initially,ENYOPharmadevelopedagainstinfluenzavirus;it hasamitochondrialcellulartargetwhichleadsENYOPharmatoexplorenewindicationssuchasoncologyor metabolicdiseases.
Toaddaninterestingangleinthisedition,wehavecomeupwithsomeknowledgeenrichingarticlesfromthe expertsoftheindustrylike“Top 5 Best Practices that Defines a Successful Wellness Program”by Dr. Gary Tho, owner at Chiropractic Works,and“How Innovation in healthcare means going against entrenched beliefs about ® the nature of charting”by Richard Low, MD of Praxis Electronic Medical Records. Alongwithsuchamazing piecestoreadaboutpharmaandhealthcare,wehavealsocoveredsomeoftheamazingarticlescraftedby editorialdesklike Social Media Marketing for Pharma Industry, An Imperative Association between Neuroscience and e-Learning, Artificial Intelligence: A Game Changer for Healthcare, and Revolutionary Factors Affecting Pharmaceutical Industry,amongmanyothers.
Doflipeverysinglepagetounveilthesecretofthesuccessofthesecompanies.Hopethisissuewillleavea markonyourmindandwillenrichyourknowledgeaboutPharmaceutical.
ENYO Pharma
Leveraging viruses to develop rst-in-class drug candidates in many indications
ENYO Pharma has licensed several Inserm patents issued from the discoveries of the founding scientists and developed a unique approach for the identification of intracellular therapeutic targets and first-in-class molecules
Dr. Jacky Vonderscher Co-founder & CEO
The Pharmaceutical Industry: A Sector Facing Issues In Innovation
Inthelastdecade,thepharmaceuticalsectorhasbeenfacingstructuralissueswhenitcomestobringingnew pharmaceuticalstothepatient. Indeed,studieshaverevealedthattheaveragecosttodevelopasingledrug hastripledtogreaterthan€1.7Bninrealtermssince2003whilenumerouspatentexpirationshavereduced revenuesfromblockbusterdrugs.Also,theaverageforecastforpeaksaleshasdeclinedby43%duetoincreasing developmentofspecializeddrugsforsmallerpatientpopulations.
Lastly,theattritioninthedrugdevelopmentpipelineremainshighnotablyforlackofefficacy.Onaverage,24 faileddrugdevelopmentprogramsoccurforeveryonemoleculeenteringtomarket.
Inaword,theprocessofdevelopinganewdrugisverytimeconsuming,extremelycostlyandhighlyrisky,with minimumchanceofasuccessfuloutcome.
Inaddition,therateofinnovationinpharmaceuticaldevelopmentislow,whichresultsfromafocusona restrictednumberofdrugtargetclassesconsideredmoretractable.Oneanswertothatwastodevelop“me-too” drugs,whichareclinicallyequivalenttherapeuticstoreplacepioneeringdrugsasopposedtofocusingonnew targets.
Stilltherearealargenumberofdiseaseswithunmetmedicalneedsbecauseofalackofinnovationandnew cellulartargetsinvestigatedbythepharmaceuticalindustry.Inthelastdecadetherehasbeengrowingawareness ofthelimitedstructuraldiversityinpharmaceuticalcompanycompoundcollectionsbuttherearestillroomfor newapproachesandnewtherapeuticstrategies.
“We have plans to conduct all our molecules to Phase II Proof of Concept clinical trials”
ENYO Pharma: Bringing New Opportunities to the Pharmaceutical Industry
Havingmadethat analysis,twoveterans ofthepharmaindustry andfourscientistsof theInfectiology ResearchCenterin Lyon,Francecreated ENYOPharmain January2014.
ENYOPharmaison themissiontocreatea changebydeveloping newtherapiesagainst diseaseswithunmet medicalneedsthanksto awhollynewapproach. ENYOPharma’steam hasdevelopedaunique andinnovativedrug discoveryengine inspiredbyvirusesto identifyanddevelop first-in-classdrugcandidatesinmultipleattractivediseases.
ThecompanyiscurrentlydevelopingitsfirstleadingproductEYP001intwoliverdiseases:chronichepatitisB andNASH(Non-alcoholicsteatohepatitis).Howevermanyothertherapeuticareassuchasoncologyormetabolic disordersarealsobeinginvestigatedthroughongoingdevelopmentprograms.
Dr. Jacky Vonderscher, the Erudite behind ENYO
Pharma
ENYOPharma’steamisworldclasswithacrucialmixofpharmaseniorleadershipandscientificexcellence notablyinvirologywhichdrivesthecompanyforward.Butateamcanonlycoordinatethoughtfullyandmarch forwardtowardsexcellencewhentheygetagoodleader.AndENYOhasageniusasitsleader,theco-founder andChiefExecutiveOfficerofthecompany,Dr.JackyVonderscher,apharmaveteranandanexperienced drughunter.Hesawthepotentialtorapidlytranslatetheexpertiseinvirus-hostinteractionsofENYOPharma’s scientistsintonoveldrugcandidatesinmanyattractiveconditionsbeyondinfectiousdiseases.
Dr.VonderscherheldmultipleSeniorExecutiverolesnotablyinR&D.PreviouslyhewasoperatingasaSenior VPHeadofTranslationResearchSciencesandasaSeniorVPHeadofMolecularMedicineLabsatRochein USAandSwitzerland(2008-2012).HealsoheldotherseniorpositionswithNovartisintheUSAandSwitzerland ® (1979to2008).HeiswellknownforhisleadingroleinthediscoveryanddevelopmentofSandimmumNeoral inthe90sandwasalsoinvolvedasco-inventoroftwootherimportantdrugproducts,theblockbusterEverolimus ® ® (Certican andAfinitor Products)andMycophenolicAcidSodiumsalt(Myfortic®Product)He’saBoard memberofInatherys,ObsEvaandStepPharmaaswellasaSABmemberofInotrem.Herecentlywasalso cooptedasaboardmemberofEBE(EuropeanBiopharmaceuticalEntreprises,aEuropeanTradeAssociation).
Drug Discovery Inspired by Viruses
Overmillionsofyearsofevolution,viruseshaveperfectedtheirabilityto modulateandhijackthecellfunctionsfortheirownbenefit.
ENYOPharma'steamisconvincedthatbyimitatingvirusesitispossibleto modulatecellularfunctionsandproteinswithoutendangeringthecellto opennewperspectivesfordevelopingmedicines.
ENYOPharma’steamisthusdevelopingdrugdiscoveryprogramsonmany intracellularhosttargetsyetuntappedbypharmaceuticalindustriesbecause consideredasnon-tractableuntilnow.Thiswouldleadtothedevelopment offirstinclasstherapeutics.
Theapproachallowsfindingnewcellulartargetswhicharenotexploitedyet todiversifythecurrenttherapeuticpipelineandincreasethechanceof gettingacurefordiseaseswithstillunmetmedicalneeds.
ThisapproachmatchestheneedsofthelargePharmatoreplenishtheir pipelineswithinnovativedrugsthroughinlicensing,maintainstheprimacy ofpublichealthinterestandmaximizesindividualmedicalbenefit.
ENYOPharma’sexpertiseandknowledgehavealsoraisedtheinterestofmajorinvestors,whoinvested€22Min thecompanyinearly2016tocontinuetheworkonHepatitisBandotherprograms.Thecompanyiscurrently discussingwithvariousUSandEuropeaninvestorstoraiseitsSeriesBtofunditstwoPhaseIIinchronic hepatitisBandNASHandbringatleast onenewcompoundinclinic.
Other programs (EYP002, MIMESIS): ENYO Pharma further validation of ENYO’s approach
ENYOPharmaalreadymadetheproof-of-conceptofitsdrugdiscoveryenginewithitsfirstcandidateEYP001 beingtestedinpatients.Itsecondleadingmolecule,EYP002wasinspiredbyastrategyemployedbyInfluenzato regulatehostcellbiologyandallowedtofindauniquenoveltargetfocusedonmitochondriaandstressresponses thatcouldalsoberelevant foroncologyandmetabolicdiseases.
Followingthat,ENYOhasreceivedfundingfromtheEuropeanUnion’sHorizon2020researchandinnovation programfortheMIMESISprojectthatresultsfromthescaleupofENYOPharma’sinnovativedrugdiscovery engineandaimsatscreening10,000molecules.Thislibraryofdevelopablechemicaltemplatesiscurrently screenedinphenotypicassaysagainst4viruses(Flu,RSVandHRV(torespiratoryviruses)andZika),a mycobacterium(TB)andasinducersofImmunogenicCellDeathintumors.With€3.6millionspendingover24 months,mostpromisingchemistrieswillbethestartingpointfornumeroushittoleadoptimizationprograms fundedwithintheEUgrant.
TheinitialresultsshowedahighnumberofleadsandasasingleorganizationENYOPharmawillnotbeableto developthemallandwilllikelypartnershipstolicenceorco-developsomeofthosemoleculesthatarenotpartof aninternalspecificprogram.
Photo Courtesy: ENYO Pharma
“ThankstotheMIMESISapproach,ENYOPharmawillmultiplytheopportunitiestobringveryinnovativedrugs workingonuntappedhumantargetswhichwilltranslateintohigherpharmaceuticalbenefittopatients.This approachhasnotbeenusedbeforeinthepharmaceuticalindustryandispotentiallytransferabletoanyhuman disease.Withinlessthanayearwehavealreadygained50hitmoleculesonundruggedtargetsandtheyarebeing validatedaswespeak”assertsDr.Vonderscher.
“We have deciphered virus-host interactions and built a unique Drug Discovery Engine based on mimetism of the virus strategy for modulation of cellular host functions”
Feather of Achievement in ENYO Pharma’s Cap
ENYOPharmaisdevelopingitsleadingdrugcandidateinbothchronicHepatitisBandNASH.
NASHisthemostcommonliverdisorderinWesterncountries.Itsmainconsequenceisliverfibrosis,cirrhosis andhepatocellularcarcinoma.Currentlynotreatmentexistsforthisdiseasewhichrepresentsanimportant challenge.
HepatitisBremainsamajorworldwidepublichealthproblemwithover260millionsofchronically-infected peopledespiteextensivevaccinationprograms.ChronichepatitisBevolvestowardslifethreateningcomplications includinglivercirrhosisandcancer.Currenttherapeuticregimen,oftenfailtocureHBVandarelifelong treatments.
Recently,ENYOPharmahassuccessfullycompletedEYP001firstinmanPhase1study ThePhase1asingleand multipleascendingdosetrialevaluatingEYP001inhealthysubjectshavebeencompleted.Theresultsshowthat EYP001wassafeandwell-toleratedatalldosesstudiedin80subjects.Thedrugisnowstartingaphase1b clinicaltrialinpatientswithchronicHBVwithresultsdueinearly2018withtwophase2trialsinHBVand NASHplannedformid2018.
CompanyName
ARCABiopharma,Inc. arcabio.com
AboutCapella Therapeutics,Inc. capellatherapeutics.com
ENYOPharma enyopharma.com
ICMPharmaPte.Ltd. icmpharma.com
LeoPharma leo-pharma.com
MAXBioPharma maxbiopharma.com
Quertle,LLC quertle.com
Saniona saniona.com
SenhwaBiosciences Inc. senhwabiosciences.com
SpectrumPharmaceuticals Inc. sppirx.com
DerekCole VP
Dr YunLong Founder&CEO
Dr.JackyVonderscher Co-founder&CEO
Dr.StuartKoe ManagingDirector
HenrikHeskjærKyndlev HeadofGlobalExternal Communication
ARCAwasfoundedonthebeliefthataprecisionmedicineapproach todrugdevelopment,tailoringmedicaltreatmenttotheindividual geneticcharacteristicsofpatients,canenablemoreeffective therapies,improvepatientoutcomesandreducehealthcarecosts.
CapellaTherapeuticsisfoundedin2014inSanDiego, focused onthediscoveryanddevelopmentofsmallmoleculedrugsto treatcancerandinflammatorydiseases.
ENYOPharmaisaprivatelyheldbiopharmaceuticalcompany withaninnovativeapproachinspiredbyviruses;theirbiotech mimicsvirusstrategytomodulatehostcellularfunctionswith multipleapplications.
ICMPharmaisaSingapore-based,GMP-certified pharmaceuticalmanufacturerthatdevelops,manufacturesand marketsarangeofOTCandgenericpharmaceuticals.
LEOPharmahelpspeopletoachievehealthyskinbyoffering caresolutionstopatientsinmorethan100countriesglobally, supportspeopleinmanagingtheirskinconditions.
Dr.FarhadParhami Founder&President
Dr.JeffreySaffer& Dr.VickiBurnett Founders
Dr.JørgenDrejer Founder&CEO
Dr.Tai-SenT.Soong President&CEO
Dr.RajeshC.Shrotriya MD,Chairman&CEO
MAXBioPharmaisaCalifornia-basedbiotechnologyfirm developingnovelsmallmoleculelipids,referredtoasoxysterols, ascandidatesfortherapeuticdrugsfordebilitatingandfatal humandiseases.
QuertleisaBiomedicalBigDataleader;theirBioAI™Platform -basedonadvancedArtificialIntelligence-powersasuiteof productsthatdeliverrelevantinformationandpredictive analyticsoutofthefloodofbiomedicaltextualinformation.
Sanionaisaresearchanddevelopmentcompanyfocusedondrugs forcentralnervoussystemdisorders,autoimmunediseases, metabolicdiseasesandpainrelief;hasacomprehensiveportfolioof potentialdrugcandidatesinpreclinicalorclinicalphase.
SenhwaBiosciences(Senhwa)isadrugdevelopmentcompany, engagedindevelopmentofsmallmoleculedrugsfortreatingnewly validatedtargetsincancerpathways;pipelineproductportfolio includestwoagentsinclinicaldevelopmentforcancer,namely, CX-5461andCX-4945.
SpectrumPharmaceuticalsisanAmericanbiopharmaceutical company,locatedinIrvine,California;isacommercial-stage biotechnologycompanywithfullyintegratedcommercialanddrug developmentoperations,andaleaderinhematologyandoncology.
How Innovation in healthcare healthcare means going against entrenched beliefs about the nature of charting
AmericanMedicineisinan
unprecedentedcrisis.Doctors arenothappy Arecentstudy bytheAMAshowsthatphysiciansare spendingtwiceasmuchtimewiththeir ElectronicHealthcareRecords(EHRs) astheyarein“directclinicalfacetime”withtheirpatients.Thestudy alsorevealedwidespreadcareer dissatisfactionamongphysicianswith 54%reporting“physicianburnout.” Doctorsarewastinghoursaday strugglingwiththeircomputersto documentmedicineandprovidecareto patientswithwhomtheyspendless timeeveryday. Patientsfeeltheir doctorismoreconcernedwithdataon thecomputerthanlisteningtotheir problemsandcaringfortheirneeds. Meanwhilehealthcarecostsare
climbingwhileprovidersaregetting progressivelymorefrustratedat playingdataentryclerks.
Remarkably,computerswerefirst introducedtotheexaminationroom preciselytoresolvethechaosthat cliniciansfacedwithpaper.Initially, computerspromisedtomake documentationeasierandmore effective.Instead,EHRsseverely worsenedanadmittedlyabad situation. Whatisevenstrangeristhat inallotherfieldsofendeavorexcept medicine,informationtechnologyhas beenhighlysuccessfulinstreamlining paperworkandbureaucratic congestion.Whyhasthisnothappened inhealthcare?
Onestrangeexplanationpropounded manyintheITfieldisthatdoctorsare “computer-phobic,”thatphysicians feartechnologyandlacktheadequate technicalskillstohandlecomputers. Nothingcouldbefurtherfromthe truth. Physiciansarehighly-trainedin thesciencesandhaveusedeverynew technologyappearinginthemedical fieldeffectivelyforatleastahundred years. Otherpunditsarguethat physiciansarereticenttochangeand arestuckintheirways.That’snottrue either.Doctorsaremorelikelyto embracenewapproachesthanany otherprofession.Theanswermustbe lookedforwithinthechartingsoftware itself.Yet,EHRsoftwareprecisely replicatesthepapercharting
Richard Low Managing Director
methodologyusedforovera century. Maybethat’stheproblem. Innovationhasnotchallenged entrenchedbeliefsintheoldpaper methodofcharting.Theoldpaper paradigmremainsboundtothepast: anelectronictypewriterregurgitating textinsideadeadrecord. Theproblemseemstobenotwith thecomputerbutwiththeoriginal paperrecord.Chartingonpaper neverworkedwellevenbeforethe firstcomputereversawthelightof dayinadoctor’soffice. Indeed,the chartingparadigmhadbeen malfunctioningforatleastthirty years,eversincetheoldthree-byfivecards,usedformorethana
®
Richard Low, Managing Director of Praxis Electronic Medical Records, is one of a handful of physician CEOs running EHR companies. A graduate from Yale Medical School and practiced both Emergency Medicine and Internal Medicine for more than 20 years. Doctor Richard started the company in 1989 to resolve the main problem with charting, precious time being wasted by providers. By learning from hundreds of medical clients throughout the years, Praxis is today more than just an EHR, it is a clinical tool that enables doctors to provide better medicine, save time and reduce professional stress and burnout.
centurytoremindcliniciansofthepatientconditions,were replacedbyreamspaperworkasaresponsetothemedical malpracticelitigationbeginninginthesixties. Then,with stacksofmedicalpaperrecordsfiledandstackeduptothe ceiling,third-partypayers,particularlythegovernment, begantousethispaperascriteriafordenialofpaymentfor servicesrendered. Sowhatwaswrittenonthemedical recordbecamemoreimportantthanwhatwasdone. And noonequestionedthepaperapproach. Aslawyersputit, “resipsaloquitor”(thethingspeaksforitself),meaning:“if it’snotwritten,itit’snotdone!”. Sadly,today’sphysician canearnmorebyspendingfiveminuteswiththepatientand twentyminuteswiththechart,thanbyspendingtwenty minuteswiththepatientandfiveminuteswiththechart. Clearly,thereissomethingprofoundlywrongwiththis chartingapproach.
Sowhydidmedicalsoftwaredevelopersmaintainedtheold chartingparadigmintheirEHRsinsteadofgivingcareful thoughttotakeadvantageoftheuniquepowerofthe computertohandleroutinesbetterthanhumanscan? The answerissimple.Noonewantedtochallengephysicians’ entrenchedbeliefsthatthecurrentwayofchartingisthe onlyvalidapproach. Consequently,programmersworked onthewrongpremisefromthestartand,byportingittothe computer,theymadeitfarworse.Theargumentwas simple: “Ithadalwaysbeendonethisway.”Exceptit wasn’t.Chartingtheessenceofaclinicalvisitonathreeby-five-card,asusedbyourforebears,isnotthesameasa computerspittingouttonsifcomplexcomputercodesto explainaclinicalencounteronlybecausecomputerscannot handlehumanlanguage.
Indeed,aftertheinitialCPTandICD-9codesdevelopedby theAMAandtheWorldHealthOrganizationtodescribe acceptabletreatmentsanddiagnoses,anarrayofnewcodes appearedonthescene:G-Codes,F-Codes,RxNormcodes, LOINCCodes,SNOMEDcodes,thelistseemsendless. Thesecodescreatedhavocforbusypractitionerswhohave turnedintodata-entryclerksofasort,wastingtimeand creatingstressandconfusion,whichcanleadtoclinical errors.SNOMEDinparticularismeanttodescribethe entiremedicalexchange:thepatientsymptoms,theclinical findings,thediagnosesandallthetreatmentsin “computerese”ratherthanEnglish,anddrivesdoctors completelycrazyintheprocess. Evenanewmedical syndromeisbeingrecognizedasaffectinghealthcare providerscalledthe“AlertFatigueSyndrome.” Now,the
lawofthelandisthatdoctorsaretosearchallthesecodes totransmitclinicalinformationtotheirpeers.Noone stoppedthisinsanityandrealizedthatwehadthebasics wrong.
Sothenhowshouldbusycliniciansdocumenttheirclinical exchangesifnotthewaytheyweretaughtforthelasttwo hundredyears?We,atPraxisElectronicMedicalRecords, believetheanswerisforthecomputertohelptheproviders thinkandexpressthemselvesusingtheirownthoughtsand wordsbyretrievingthemjustintimefromanartificial intelligencedatabasesoastolearnfromtheirownpast encountersofsimilarpatients.Asweliketosay:“It’sfaster, easier,andbettertodowhatyouwrotethantowritewhat youdid.”Chartingbackwards?Youbet!Thisisnotwhat physiciansweretaughttodo,butthenagain,ourforebears didnothavecomputerstoassistthemintheexamining room,norreamsofdatatofillout,norattorneysandthird partypayerstodealwith.Theydidnotneedtochartupa stormtobeablepracticemedicine. Thechartthen becomes,notasillycompilationofwhatisbeingobserved overandoveragain,butanactuallivingchecklistthat ensuresthannothingisforgottenoroverlookedatthepoint ofcare,thatallthequestionsarebeingasked,allthe relevantfindingsandstudiesarebeingevaluated,andyes,it alsochartsinstantlysosavesabouttwohoursaday
Itseemsthatdoctorshadthebasicswrongfromthestart.If thegoalistopracticehigherqualitymedicinebytaking bettercareofpatients,paperworkshouldnotgetintheway. Onthecontrary,documentationshouldassistthethought process,guideitalong,andnothinderit.Thecomputercan dothatifitisprogrammedappropriately
Theconceptprocessingsolutionworks.Ithasbeenusedfor severalyears.PraxisEMRisconsistentlyratednumberone inphysicianusersatisfactionstudiesperformedbythe largestmedicalorganizationstoday,includingtheAmerican AcademyofFamilyPhysicianstheAmericanCollegeof Physicians,yetfewknowwhyPraxisscoressohighly Indeed,thisnewchartingapproachgoesagainstthegrain. Itfightsagainstentrenchedbeliefsaboutthenatureof documentingmedicine.Oftenforamajorchangetotake placetwothingsareneeded. Technologymustrepresent disruptiveinnovation,andtherehastobealotofpainwith thewaythingshadbeendoneuptothatpoint.Thelatteris alreadyhereamongphysicians.Doctorstodaymustheal themselves.
Recentyearshaveseenexcitingdiscoveriesin
ICM Pharma: Transforming Science of Drug Development
PharmaIndustriesthataregeneratingtrulynovel therapeuticsforunmetpatientneeds.Intoday’s connectedworld,theroleofthePharmaceuticalIndustryis changingrapidlyaccordingtothekeytrends.Havingan identityinPharmasolutionsinplacethatonecantrust enhancesday-to-daylivingandworklifebycreatingmany moreopportunitiesandencouragingstrongercommunities. Atthecenterofthisindustry, ICM Pharma Pte. Ltd. stands tallamongitscontemporarieswithprovidingitsunmet patientneeds.
ICMPharmaisamongstSingapore’slargesthomegrown pharmaceuticalmanufacturersthatdevelops,producesand marketsawiderangeof Over The Counter (OTC)and genericpharmaceuticals,personalcareproducts,and disinfectants.Beingoneoftheveryfirstmanufacturersto be GMP Certified bythe Ministry of Health forthe productionofhumanpharmaceuticalsinthe1980s,ICM Pharmaisoneoftheleadingsupplierstopublicandprivate healthcareinstitutions,clinicsandpharmaciesinSingapore.
WithitswiderangeofOTC“Minor Ailment Remedies” foundpracticallyinalmosteveryhouseholdinSingapore, ICMPharmahasestablisheditselfasaleadingandtrusted pharmaceuticalmanufacturer.
ALeaderWhoInspiredChange
Foundedin1970by Koe Khoon Poh,laudedasapioneer andFatherofPharmacyinSingapore,ICMPharmaisnow
helmedbyhisson,Dr.StuartKoe,ManagingDirectorof ICMPharma.Apharmacistbytraining,Dr.Stuart,gained hisexperiencerunningadotcomstartupforalmost12years beforejoininghisfather’scompany.Sincetakingoverthe managementrole,hetakesallthechargeanddoubledthe productioncapacityandimproveditsoperationaland manufacturingexcellencewithaninvestmentofmorethan S$2million.Also,thecompanyhasgrownby30%inan industrythathasbeenexperiencingaclimateofstagnation. ICMPharmahasinvestedmorethan€5millionincuttingedgebiologicalresearchthatisnowinPhaseIIIclinical trials.
UndertheleadershipofDr.Stuart,notonlyICMPharmais improvingitsoperationalandmanufacturingexcellence. Thisshallundoubtedlysolidifyitsbusinessfoundationasit beginstoexploreoverseasregionalmarketswithsomeof itsaward-winningproducts.Havingspentthelastfew decadesspecializinginliquidmixtures,creamsand ointments,todayICMPharmaisalsoenrichingitsproduct portfoliothroughtheregistrationofdozensofnewgenerics, comprisingabroadspectrumofmedicalspecialtiesfrom cardiologytooncology
Inanhonortocarryforwardofhisfather’slegacy,Dr. Stuarthasalsolaunchedanewcompany,“PharmaKoe” thatentrencheshisfamilynamecleverlyinthepharmacy world.Withthetagline“Get Better.”PharmaKoepromises thatyouwillgetbetterinallaspects-health,products, services.Butmoreimportantly,itisacommitmentto improvingitselfcontinuously
Dr. Stuart Koe Managing Director
‘‘
We know the better way to fulfill unmet patient needs; our best asset is our people and our willingness to adapt or iterate to a positive outcome
DeliveringSolutionsandServiceswithAccuracy
Alreadyarmedwithitsestablishedlineofaward-winning products,thisstrategicexpansionofitsproductofferings willfurtheraugmentitscompetitivenessasitmovesinto vastoverseasregionalmarkets.Inthisrespect,regional expansionplansandtechno-commercialallianceswith renownedinternationalpharmaceuticalplayersarealready progressingatarapidpace.Thegroup’sexpansive customerbase,bothinpublicandprivatesectors,canlook forwardtoawholenewrangeofproductsandservices acrossallthemaintherapeuticsegments.
BringingInnovationatthe“Doors”ofAlloksysLife Sciences
ICMPharmahasinvestedmorethan€5millionincuttingedgebiologicalresearchthatisnowinPhaseIIIclinical trialsacross,almostadozenofreputablehospitals worldwide.Itwasthecompany’squestforinnovationthat culminatedinthislandmarkinvestmentinAlloksysLife Sciencesin2016,aDutchbiotechcompanywithits pipelineofnovel,life-savingtreatmentsbasedonthe ®RESCAP platform.Thelargestinvestmentofitskindbya Singaporeanpharmaceuticalcompanyinnoveldrug ® development,RESCAP isexpectedtoreachthemarketin 2019.
Explainingthesuccess:Humancapital
ICMPharmarecognizesthatitsgreatestassetisitspeople. Thecompanyhasinvestedheavilyinthehumancapitalto prepareitselfforthenextwaveofgrowth.Overthelastone year,ithastakenboldstepsincreatinganexecutive leadershipteam,headedbytheCEO,Mr.Nandiraju Manohar,andpillaredwithnovelanddistinctbusiness verticals.Thesekeypositionswerefilledbyattractingthe
industry’sbesttalent.ICMPharmahastheraredistinction ofbeingperhapstheonlypharmaceuticalcompany founded,ownedandmanagedbypharmaciststhroughoutits longhistory,whichitconsiderstobeoneofitscompetitive strengths.Howthiscompany’scompetitivestrengthhas manifestedisthebestowalofmultipleprestigiousawards onICMPharma,includingtheEnterprise50,Singapore PrestigeBrand,SMFSustainableGrowth,Entrepreneurof theYear,SME100–Singapore’sFastMovingCompanies andthe2017Dun&BradstreetBusinessEminenceAward.
ICM’sroleinNationalHealthcare
Asanindustryleaderandapartfromitsbusinessand financialsuccesses,ICMPharmaisplayingakeyroleinits corporateandsocialresponsibility.Dr.StuartchairstheLife SciencesIndustryGroup(LSIG)attheSingapore ManufacturingFederation,whichfunctionsasthe representativecommunicationplatformfortheSingapore’s pharmaceuticalindustryandthegovernment,regulatory agenciesandforeigncountries,inadditiontoleadingthe SingaporePharmaceuticalManufacturer’sCounciland SingaporePharmaceuticalTradeOrganisation.Recognising thesignificantmacroscopicroleithastoplayinthenational interestsofaccessibleandlow-costhealthcareby strengtheningthecapabilitiesofthelocalpharmaceutical industry,ICMiscommittedtoworkingwiththese organizationstoservethecountryandcommunityby maintainingworld-classqualityandsafetystandards.The companyensuresthatthehealthcareneedsofSingaporeans willbemetwiththesustainableavailabilityandsupplyof affordableandeffectivepharmaceuticalproductsand medicines.
An Imperative Association between Neuroscienceand e-Learning
Theupsurgeofe-learningtechnologiesisevidentineducationallovertheworld.Communicationandapplicationsharingtechnologieshavehadagreatinfluenceonformalandinformaleducation,particularlythroughtheuseof mobileandwirelessdevices.E-learningeradicatesthebarrieroftimeanddistance,formingauniversallearning-ondemandplatform.
Understandingtheworkingofbrainandhowpeoplelearnwillhelpe-learningprofessionalstodevelopaparamounttraining modelforbusinessenvironment.Applyingvariouslearningmodels,aswellaswhatincentivesareneededbefore,during, andevenafterthelearningprocess,helpsinstructionaldesignersdeliveragreatlearningexperienceforalltheirstudents. Whilethecontent,layoutandtheaccessibilityofthee-learningcourseareimportant,determininghowalearner’sbrain actuallyacquiresandretaininformationisanessentialfactorofe-learningdesignanddevelopment.
UnderstandinghowtheBrainLearns DavidKolb’sfamousfour-phasemodelofthelearningcyclecanbemappedintofourmajorbrainprocesses.
Concrete Experience:Theinformation-gatheringpartofthecycle engagesthesensorycorticesthroughwhichwehear,see,touch,smell andtaste.Theyrecordtheseconcreteexperiencesinthebrain.
Reflective Observation:Allofthenewdatacollectedfromthe sensorycortexflowtowardstheassociationregions,wheretheystart combiningtoproduceameaningfulconcept.Ifwecanfindmeaning inthesubjectbeinglearned,theinformationcanmoveintothe workingmemory Althoughreflectionneedstimeandspaceto happen,withouttheseitisimpossibleforthelearnerstoprocess, searchforconnections,andintegrateinformation.Thatiswhy,it isimportanttocarefullyincorporatereflectionintothee-learning materialsandsignificantlyimprovereflectionbyinspectingthe amountofinformationandstrideofdeliveringsuchinformation. Itshouldgivestudentsenoughtimetoreflectonthematerialand eventuallymakemeaningofit.
Abstract Conceptualization:Thisbrainprocessoccurs whentheprefrontalintegrativecortexiscompletely engaged.Thelearnermovespastreceivingand absorbinginformationandisnowreadytocreate newknowledge,craftrelationshipsandform abstractions.Thusthelearnerstartsmaking meaninginhisorherownwayandshiftfrom beinga‘receiverofknowledge’toa‘creatorof knowledge’.Thisistheprocessthatshouldbe encouragedasitwillresultinalongerdurable learning.
Active Experimentation:Tryingoutwhatyouhave learnedinvolvesthemotorcortex.Itisthatpartofthe brainwhichconvertsabstractmentalactionsinto physicalaction.Afterthebrainhasinterpreted experiencesthroughreflectionandbuiltmeaning,ituses theseconceptsasguidesforactiveexperimentation. Activetestingcanexhibitinseveralwayssuchasreading anotherbookrelatedtothesubject,explainingordiscussing apreviouslesson,searchingtopicsonlinerelatedtoalesson etc.
LeveragingtheUnderstanding
Youcannotarguewiththebrain.Itfollowsitsownrules.For effectivelearning,learnersneedbrain-friendlycontent. Brain-friendlycontentismadeupoffundamentalnotionsthatwill helplearnersinunderstandinginformationdeeplyandretainitinthelong-term memory.Let’slookatsomeofthefundamentalsane-learningprofessionalcanleveragetodevelop anddesignaneffectivee-learningmodel.
No multitasking:Foryears,multitaskinghasbeenconsideredasanessentialskill.However,researchhas
establishedthatourbrainsdonothavethepowertomultitask.Onehemisphereconcentratesononetask,whiletheotheris focusedonacompletelysecondarytask.Thusittakesthebraintwiceaslongtocompleteatask,andalsotheerrorrate goesupby50%.Thisisbecause,wearenot‘multitasking’,weare‘contextswitching’.Thusitisimportantwhen designinge-learningcoursestoavoidmoduleswhichasktheusertoperformmultipletasksatonce,asithindersthe overalllearningprocess.
Repetition: Donotexpectthelearnerstogothroughcontentonceandrememberitforever.Dedicatingattentionthricetoa subjectwillretainmoreinformation.Thishasalottodowithassociativelearningwhichstatesthat“cellsthatfiretogether, wiretogether”. Repetitioncanbetedious,butitneednotbe.Youcanreviewinformationthroughknowledgechecksasa formofrepetition.Goingoversameinformationorideas,atspacedintervals,canhelpyoucreateastrongfiringpatternin thebrainandthus,allowthemtobesavedinthelong-termmemory
Using Multimedia tools:Multimediasuchasimagesandvideo,notonlyengagethelearnersbutalsohelpsthemto actuallyrememberwhattheyhavelearned.Studiesshowthatstudents,whousee-booksandinteractivelearningtools,lead toimprovedknowledgeretention. Furthermore,studentswhousee-booksthatcontainedsoundeffects,music,audio, narration,andimageswereabletoretainandrecitemoreinformationthantheoneswhoreadtraditionaltextbooks. Utilizingsuchinteractivetoolsalsoledtogroupcollaborationandinteractionthusimprovingtheoveralleducational experience.
Gamification:Gameshelpexerciseoutmentalmuscles.Notonlydoesithelpinengaginglearnersinthee-learning process,italsoservesasaremedytoboredomthatsooftenleadstounsuccessfullearningexperiences.Accordingtoa research,studentsweremoremotivatedtolearnmathematicswhenpresentedinagamingformat.Eventheirattitude towardsthesubjectchangedwhichresultedinanimprovedoverallsuccessandalleviationofboredomthatisoften associatedwithrepetition.
Learningisadefinite,regularprocessthatoccursinsidethebrain.Thereisnothingenigmaticaboutit.Learningexperience isuniquetoeachlearner,soitisimportantforinstructionaldesignerstoknowhowtodelivernewinformationsothat everyonecanunderstandanduseit.
Top 5 Best Practices that Defines a Successful
Wellness Program
Overrecentyears,morecompaniesareincorporating wellnessinitiativesintotheirofficeenvironment. It’smissioncriticalintodayscompetitivemarkets, toattractingandretainthebesttalents.Onecrucial measurementistheengagementlevelsofeveryoneinthe entireorganisation.Presenteeismisatanalltimehigh. Peoplearenotmotivatedbymoneyalone,andwellness programsarepartofthestrategytoimprovejobsatisfaction andproductivity.However,onlyafewcompaniesactually havecomprehensiveprogramsthatproducebetterhealth outcomesamongemployees.Asaresult,improved engagementandperformanceatwork,naturallyfollows sinceemployeesarehealthierandhappier
Unfortunatelynotallhealthandwellnessprogramsare successful.Thefirstoneortwoinitiativesmaygaintraction, buttwoyearson,andtheparticipationratesdecline.One mainproblemisthattheparticipantsthemselvesaren’tpart ofthecreation.Theirneedsandconcernsaren’taddressed sothere’slessmotivationforthemtocommit.Sowhatdo employeeswant?Hereare5bestpracticesthathelpcreate successfulcorporatewellbeingprogramsthatgaintrue engagement.
1.ProgramsAreDoable,AccessibleandSustainable
Imagineawellnesstalkorfitnessclassisstartingin15 minutes.Manyemployeeseasilydismissitandthink“I’d lovetogo,butIreallyneedtogetthisworkdone.”Do programsrunwhenemployeesaremostbusy?Arerunafter officehours?Andifso,willpeoplestaybackforit?Isthe wellnessprogramabroad-basedandholisticapproach?Or isitjustyogaclasses,cookingdemonstrationsandnothing else?
Isiteasyforparticipantstolearn?Whatlookseasywhena trainedchefpreparesahealthydinnerin20minutescould taketheaveragepersonalotmoretime,energyandstress. Arestepsprovidedforonetoimplementthenewhabit, accomplishtheirgoalandsustainthesuccess?
Acomprehensivewellnessinitiativeneedstoofferavariety ofscheduledprogramsthatarebrokendowninto achievable,sustainablehabitsthatcreateavaluable
outcome.Equallyimportantisthatemployeescanchoose whattheyareinterestedin,andeasilyfitintotheirschedule.
2.TheWorkEnvironmentIsHealth-Conscious
It’snousehavinghealthandwellnessprogramsifthe physicalandpsychosocialenvironmentwithintheoffice doesn’tsupporttohealthyhabits.Greatofficedesignthat supportwellbeinghasbeenthetrend,sinceFacebookand Googleshowedushowtodoit.
Creatingcreativespacesforsmallerpodmeetings,having standingdesksandensuringthecafeteriaandvending machinesaroundtheofficeofferhealthierfoodchoicesthat canbeeasilyseenaresomeofthesimplewaysto encouragegoodhealth.Ensuringregulatednoise,inspiring music,goodairqualityandtemperatureandadequate lightingarealsosimpleyetimpactfulfeaturesofagreat officespace.
Allowing‘down’times,andworkbreaksthatare encouraged,isessential.Mostpeopledon’ttakebreaksor chit-chatbecauseofitsnegativeperception.Howeverthisis absolutelynecessaryasitcreaterealinteractionandreal friendshipsbetweenco-workersthatsatisfythebasichuman needforsocialconnections.Peopleneedotherpeopleto love,trustandsupportthem,inbothbusinesstasksaswell asatapersonallevel.
3.WellnessIsIntegratedIntoTheCompany’sStructure
Furthertopoint2above,choosingahealthierlifestyleand doingwellatworkshouldn’tfeellikeatug-of-war.I’ve heardofcompanieswhopayforgymmembershipsfortheir staff,whichisgreat.However,whenanemployeeis workingoutinthegym,theygetaphonecallsayingthey needtogetbackintheofficebecauseof…(somereason).
Thereforeit’simportantthatacompanyestablishes wellnessprogramsthatarevaluedandhonoredinevery aspectoftheorganization.Otherwise,what’sthepoint?
Anotherexampleincludestheholygrailof“work-life balance”.Ifyourcompanywantsemployeestobehealthy andhavebetter
work-lifeintegration,yetatthesametimesilentlyimposes thatpeoplemustcontinueworkingbeyondstandardoffice hours,itreallydoesnotmakeanysense.One(partial) solutiontothisisintroducingflexi-hoursaswellasremote workingtoallowpeopletogeterrandsandfamily engagementsdone,aswellasworkfromhome,oracafe insteadofbeingphysicallyintheoffice.It’sapartial solutionbecausegivingsomeonetheabilitytorunerrands andcometoworklaterthanusualisgreat,thoughitdoes notnecessarilypromotehealth,happinessorwellbeing.
4.WellnessIsLinkedToContinuedSupportPrograms
Whenacompanyisgenuinelyconcernedabouttheir employees’wellbeing,theywillnaturallyensurethatany wellnessinitiative,gameorworkshophassomeformof continuation.Employeeassistanceprograms(EAP)are commonformentalhealthconcerns,howeverthereneedsto beothersupportsystemsinplaceforotherhealthconcerns. In2014,Apple’sCupertino,Calif.-basedheadquarters boastedamedicalone-stop-shop“wellnesscenter”offering in-housechiropracticcare,dieticiansandmore.Collective Works,Singapore,thelargestpremiumco-workingspacein Asia,nowalsohousesanin-housechiropractor,specializing inpainrelief,peakperformanceforbothindividualand corporatehealth.
Gamificationofcorporatehealthprogramsusuallyrunfora certainperiodoftime.Workshopsandclassesmayrunfor8 weeksorthroughouttheentireyear Althoughparticipation ratesarehighinitially,continuedsupportprogramsarewhat sustainsengagement,andcreatesthechangeboth individualsandtheCEO’swanttosee.Engagementiswhat createslongtermsustainableresults.
5.Broad-basedApproach
WellnessProgramsaren’tallaboutofferingfreegym membershiporjusthavingsmokingcessationprograms. Healthishealth–acompletestateofphysical,mental,and socialwell-being.Fitnessis“theabilitytoperformwork (sports,occupationsanddailyactivities)satisfactorily”. Pilatesisagreatwaytoexerciseandstrengthenthecore muscles,howeveritisnotequivalenttohealth.
Alotofpeopleknowtheyshouldquitsmokingbutdoesn’t becausetheydon’trealizehowmuchdamageitcandoto theirbody.Theymaynothaveastrategy,norenough motivationtomakethosechanges.Onemethodofoffering voluntaryhealthscreeningswhilegivingsoundeducation andsimpletasksfromavarietyofprofessionalsisthekey Helpingpeoplerealisethatthecompanydoescare,that theircolleaguesdocare,thattheytooshouldcareabout theirownhealthisofthegreatestimportance.Digging deep,andcreatingasafeplacetoimprovetheirlifestyle choicesonmultiplelevelsshouldbethebasisofevery corporatewellbeinginitiative.
Dr. Gary Tho Founder
About the Author
Dr. Gary Tho, Founder of Chiropractic Works, a Family Sports and Wellness clinic in Orchard Road, Singapore. He specialises in pain relief and preventative care and believes quality life is essential for happiness, success and peak performance. Dr Gary is also the author of The Pain-Free Desk Warrior, Free yourself from aches and pains which is the definitive guide for those stuck at their desk for more than 2 hours a day.
SocialMedia Marketing
The absence of pharma brands on social media creates a significant void of reputable healthcare information to aid
patients,” writesDawnLacallade,LiveWorld’sChiefSocialStrategist.
Socialmediainfiltratevirtuallyeveryfacetofanindividual’sdigitallife.Today,patientsareusingsocialmediaasamajor sourceofinformationandhealthcareresearch.Thus,itisessentialthatpharmacompaniesshouldbepresentonsocialmedia toprovidefullandaccurateinformationtotheconsumers.Tocomprehendhowsocialmediacanassistpatients,itiscrucial tounderstandwhatcompelspeopletousesocialmediaasasourceofinformation.
Socialmediaallowsinteractionamongpeoplewhichinvolvesexchangeandcreationofinformation.Itistheperfectconduit forpharmaceuticalcompaniestoconnectwiththeircustomers,patientsandphysicians.
AccordingtothecurrentFDAregulations,pharmacompaniesarenotabletoeasilyjoininaconversationtoprovideaccurate andbalancedinformation.Regulationsdictatethat,inasinglesocialpost,brandsarerequiredtoprovideprecisefactsonthe benefitsandhazardsassociatedwithconditionsandproducts.Duetothecharacterlimitationsonmanysocialmedia platforms,mostpharmacompaniesprefertostayoutoftheconversation.Thisresultsincirculationoffalsifiedinformation. Thisinformationcanbeeithermarginallyinaccurateorsignificantlyharmful.
Althoughthecommunicationofpharmaceuticalindustriesishighly regulated,theyaregraduallyadoptingsocialmediaplatformstoreachand interactwithconsumersandhealthcareprofessionals.Herearesomeofthe topsocialmediapracticestolookoutfor:
CraftingCustomerExperience
Severalmarketersthinkthattheirjobisfinishedoncethesalesteam takesover,butinreality,itisjustthebeginning.Thewaypeople experienceyourbrandwillimpactthewaytheythinkaboutyou,which willhaveanenormouseffectonthesuccessofyourcompanyinthelong run.Devotingapartofthemarketingbudgettonurturethe existingclientelewillmaketheirexperiencesplendidand thuspromotebrandloyalty.Itisalsocrucialtorespond wheneveryourbrandinmentionedpublicly,whether positivelyornegatively,whichwillhelpcultivatea strongandlastingrelationshipwithyourcustomers. Youngergenerationsareincreasinglywithdrawing fromtraditionalsocialmediaplatformsandadopting moreinnovativechannelsthataremoreintimateinthe wayofcommunication.Tokeepupwiththischallenge, companiesneedtofindawaytoautomatetheprocess whereverpossible.
RegulatingContent
Pharmacompaniesneedtodevelopcontentmarketingstrategiesthatmergeeach pieceofcontentoneverychannelwiththeirorganization’sobjectivesand customers’needs.Creatorsneedtohaveaclearbusinessobjectiveincludingthe valuethatwillbedeliveredtodistinctaudiences.Allcompaniesneedtohavea socialmediacomplianceofficerwhowillworkcloselywithacorporatelegal counselanddevelopacompletestrategyanddecideiftherewillbeconsolidated socialmediapostingorifindividualemployeeswillhavetheconsentto participate.Andlastly,itiscriticalthatallemployeesunderstandtheirrolein corporatesocialmediaandbetrainedontherules.
OverallIntegration
Pharmacompaniesshouldstopthinkingaboutcontentmarketingandsocialmedia asadd-ons.Toboosttheiroutcomeforclients,contentandsocialmarketingneedto beapartofalmosteveryprogram.Todevelopafullyintegratedprogram,companiesneed toinvolveinfluencersandcontentmarketersduringtheinitialstages.Implementingan organizedapproachtocontentandmoderationwillnotonlyoptimizetheprocesses,butalsoaid inassuringauthoritiesthatallthebasesarecoveredtoprotectandprovidevalueforthebrand.
InvestinginEmployees
Anindependentsurveydiscoveredthat72%ofsocialmediausersexpectresponsewithinan hourfromthebrandstheyfollow Thishascausedbrandstostartheavilyinvestingincrossfunctionalsocialmediateamsthatcankeepupwiththeincreasingnumberofclientpings
everyday.Encouragingandincentivizingteammemberstosharebrandmessagesontheirownsocialmediaaccounts,is predictedtobeagame-changerinthecomingdays.Howeverthiscannotbeforced,itisessentialforemployeestowantto sharecompanyposts,andalongwiththisthecontenthastoresonatewiththeirownaudiences.
InfluencerMarketing
Influencermarketingwillcontinuetodevelopandbecomeanevenmoreestablishedpartofthestrategy.Currentlymany brandstryinfluencermarketingandfailasitisnoteasytofindeffectiveinfluencers.Additionaldatawillhelpinselection oftherightinfluencersandanalyzetheresultsfrominfluencercampaigns.Today,inhealthcare,influencersareoften regularpeople.Somearedirectlyaffectedbyadiseaseorarebeingtreatedwithaspecificproduct,whileothershave gainedalotofknowledgeaboutaconditionandareconsideredasSubjectMatterExperts.Thecommontrendistoselect someonewhohasanever-increasingcommunityoffollowerswhovaluetheiropinion.
Numerouscompaniesstillthinkofsocialmediaasmerelyamarketingtoolwhichisnottrueanymore.Consumerslearn aboutproductsondifferentsocialnetworksandseekcustomerserviceonmessagingchannels.Moreover,good storytellinghasalwaysbeenanessentialpartofeffectivemarketing.Butsocialmediaischangingthewayaudiences consumestoriesandpharmacompanieswillberequiredtokeepupwiththeevolutionofsocialstorytellingiftheywantto remainrelevant.
Yetthereisstillanoteofcautionwithcompliancebeingtheforemostpriorityofpharmaceuticalcompanies.Butas industriesarestartingtoadoptsocialmediawithoutclearregulatoryguidance,remainingcompliantwillbethemain challengetoface.
BUSINESS MARKETING
Quertle: Transforming AI-Based Analytics for Biomedical Big Data
Nowadays,mostapplicationsusedforsearching
biomedicalliteraturesarebasedonkeyword technology,whichismorethanhalfacenturyold approach.Quertle,aleadingAI-basedanalyticscompany, recognizedthataddingmorebellsandwhistlesontopof thatoldtechnologycouldneversuffice.Quertleunderstood thatartificialintelligencecouldrevolutionizeliterature searchesandgrowasneededinthefuture.Thecompany approachedthisproblemfromtheperspectiveof biomedicalindustryexperts,whoknowagreatdealabout datascienceandprogramming.
InspiringLeadersbehindQuertle:ATaleof Researchers
Dr.JeffreySafferandDr.VickiBurnettaretheFounders ofQuertle.Botharelong-timebiomedicalresearcherswho hadbeenpersonallyfrustratedbytheinefficienciesof findingcriticalinformationinthebiomedicalliterature. TheyunderstoodtheimportanceofthatliteraturetoR&D (80%ofpotentialdrugtargetsareidentifiedfromthe historicalliterature),tobusinessdecisionssuchas PublicationPlanningandMedicalAffairs,andtohealthcare itself.Thus,theyweremotivatedtoestablishQuertlein ordertore-inventtheapproachesforusingbiomedical literatureandtransformthatprocessfromfrustrationto fruitfuldiscovery
JeffandVickitooksometimetoexecutetheirvision,butit eventuallyledtoauniqueapproachthathasbeenvalidated bytheuseoftheirsolutionsbypharmaceuticalandbiotech companies,universitiesandresearchinstitutions,and practicingphysiciansaroundtheworld–covering192 countries.
MissiontodelivertheBestinClassServices
Quertleisaleadingartificialintelligence(AI)solutions companydedicatedforresearchanddiscoveryfromtextual biomedicalinformation.Biomedicalliteratureisthe backboneofdrugdiscoveryandprovidesascientific foundationfortheentirehealthcareindustry.Searchingthis vastandconstantlygrowingliteraturecorpusis fundamentaltotheworkofeverypharmaceutical&biotech company,hospital,andphysicianandbiomedical&life scienceresearchinstitution.Arisingfrommorethana decadeofresearchbyscientificexpertsinthefield,Quertle usesmachinelearning,conceptualunderstanding,and predictivevisualanalyticstotransformliteraturediscovery fromaslow,agonizingprocesstofasterdevelopmentof newtherapies-minimizingcostlyresearchmistakes, makingbetterbusinessdecisionsandimprovingphysician awareness.
TheGreatestProjects
CentraltoQuertle’ssuccesswasthebuildingofanentirely newfoundationfordiscoveryfromtextualcontent–the BioAI™ platform.Startingwithsimplenaturallanguage processingandthenevolvingintoafullyfledgedAI approach,capableoflearningdirectlyfromthetext encountered,theBioAIplatformisadaptableand extensible,supportingunparalleleddiscoveryaswellas integrationintopharmaceuticalworkflows.
Quertleoffersitspowerfulsolutionvia Qinsight™,a Software as a Service application,whichcoversbiomedical journalarticles,patentgrantsandapplications,treatment protocols,NIHgrantapplications,andmanyothersources forcomprehensivediscovery.Soontobeincludedisthe
Dr. Jeffrey Saffer Founder
Dr. Vicki Burnett Founder
Vision is the most important aspect of starting a business; if your dreams include building something of your own, just do it, and Quertle is the most Powerful Biomedical Artificial
Intelligence-based Visual Analytics Provider that meets Unmatched Insight
FactivanewsfromDowJones,full-textbooksandarticles fromOxfordUniversityPressandmore.Also,Quertle createscustomapplicationstoincorporateadditionalvisual analytics,othercontentsourcessuchasproprietaryin-house documentsorhealthcarerecords,andothercustomfeatures.
Quertle’sUniqueStrategiestoCompeteintheGlobal Market
ThekeytosalesofQuertle’sproductsisthatthe pharmaceuticalindustryisfinallyrecognizingthe inadequacyofold-fashionedsearchmethods.Hence, Quertle’sstrategyistomaketheindustryawareofitsfullyfunctionalAIsolutionthatcanbeputtoworkimmediately Asapartofthis,Quertlemakesthefollowingthreepoints.
1. Quertle’s AI methods minimize the risk of missing critical information: Theinvestmentsinpharmaceutical projectsarehuge.Yet,realizing-afterthefact-that previouslyknowninformationwouldhavechangedproject decisionsstillremainsacommonplaceoccurrence. SupplementingcurrentdiscoverymethodswithQuertle’s uniqueapproachescansignificantlyreducethemoney wastedontheseprojects.
2. The time required to discover that critical information is considerably shortened: Forexample,oneuserreported findingoutinminuteswhatpreviouslytookanentireteama fullmonth.ThisispossiblebycombiningQinsight’sAI discoverywiththeintuitivepredictivevisualanalytics.
3. Quertle’s approach inherently supports serendipity: Literaturesearching,byitsnature,isgearedtowardsfinding outwhatyouarelookingfor,andthecriticalassociated informationisoftenlost.Quertle’sAIautomatically discoversrelatedconceptsandpresentstheseinanintuitive
exploratoryframework,enablinguserstohavethosecritical moments.
SuccessAttributestowardstheirGreatest Accomplishments
Quertle’ssuccessstemsfromitsuniqueapproach,builton recognitionthatincrementalimprovementstooutdated approachescouldneversolvetoday’sliteraturediscovery problems.Gainingworldwideawarenessandacceptanceof itsmethods,andtheensuingimpactthetechnologyhashad onpharmaceuticaldiscoveryandinsavinglives,hasbeen Quertle’smostsignificantaccomplishment.
SuccessfulCustomers,SuccessfulBusiness
Quertleisgrowingitscustomerbasethroughactivesupport ofusers.Thecompanyunderstandstheindustryneeds,and communicateswithcustomersasscientisttoscientist.Also, Quertleprovidesfreetrainingandsupportwithallsite licenses.
FutureAspects
Initially,Quertle’sbiggestchallengeinthepharmaceutical industry’suseoftextualinformationwasgettingindividual userstorecognizethatthefrustrationstheyfeelwith standardapproachesareindeedsolvable.Thereis, fortunately,increasingawarenessthatAIcanhelpandthat Quertle’sAI,whichlearnsdirectlyfromthemeaningfultext inthedocuments,isthefuture.
ThebestpartofQuertleisimagination–definingaproblem andbuildingasolution,withoutconstrainttopriorbiases. ThisimaginationextendsthroughQuertle’sentireteamand isacorevalue.
Artificial Intelligence: AGameChanger forHealthcare
Thinkaboutalltheinefficienciesinyourdailylife; trafficjams,snailmails,longqueues,andsoon. Theseinadequaciesthoughannoyingarenota matteroflifeanddeath.Suchisnotthecaseinhealthcare. Therequirementforefficiencyinhealthcareisdistinctand thepotentialforappliedsciencesespecially computerizationisenormous.Healthcarehasabigdata opportunityopposedtoabigdataproblem,thanksto artificialintelligence.
Initially,ArtificialIntelligence(AI)wasintroducedasa notiontoimitatehumanbrainandexplorethereal-world problemswithawholesomeapproach.Researchersall aroundtheworldarethrilledabouttheupcoming developmentoftechnologieswhichwillhelpinfacilitating themankindtodeliveroutsidetheirstature.The implementationofAIinhealthcareisescalatingand decipheringavarietyofissuesforpatients,hospitaland healthcareindustries.
TakeacloserlookathowAIisresolvingproblemsand what’sonthehorizonfortheindustry.
MaintainingHealth
OneofthemajoradvantagesofAIisthe abilitytoassistpeopleinstayinghealthy Mobileapplicationsarealready encouraginginstilmentofhealthyhabitsin individualsandassistingintheproactive managementofahealthierlifestyle.Italso increasestheabilityofhealthcare professionalsinunderstandingtheneedsofthe peopletheyserveandenablesthemtoprovide abetterdirectionandassistanceformaintaining health.
Furthermore,AIchatbotsarebeingusedinaddressing caseslikehelpingcustomersselectabenefitplan, providingcustomerserviceandguidingconsumersto resources.ThoughitisearlyintheespousalofAI chatbots,indicatorsofrequisiteandfulfillmentare encouraging.“Chat-bots will continue to get more intelligent over time, thanks to AI and machine learning techniques that will make them very efficient, and of course, more timely than a human can ever be,”saysKhalRai,anAI expertatSRSHealth.
EarlyDetection
CerebrovascularAccidentorStroke, foramaximumnumberoftimesis causedbyblockageinthesupply ofoxygenandbloodtothe brain.Howeverduetothe lackofdetectionofearly symptoms,veryfew patientsareableto receivetimely treatment.Other
conditionslikeCancerandAlzheimer’sfacesimilar consequences.TheutilizationofAIisenablingreviewand analysisoflabreportsmuchfasterandwithbetteraccuracy
RecentlydevelopedAIsoftwareatHouston,Texasclaims todetectcancerrisk30timesfasterthananydoctorand with99percentaccuracy.Moreover,researchersare trainingAItodetectTuberculosisonchestX-Rayswhich couldhelpinscreeningandevaluationinTB-susceptible zoneswhichlackaccesstoradiologists.
Theincreaseofwearableandothermedicaldevicesusedin accordancewithAIarealsoassistingindetectingearlystageheartdiseasesandenablingdoctorstomonitor potentiallylifethreateningeventsatanearlyandtreatable stage.
MedicalDiagnosis
Numeroushealthcareorganizationsareapplyingcognitive technologytounlockenormousamountsofdataand promotediagnosis.Theabilitytostoremoremedical informationcontainingjournals,treatmentsandsymptoms ismuchfasterthananyhumancompetency.Earlier, diagnosticprogramsregardingdiseasespecificfeatures werewrittenusingpredefinedassumptions.Nowwiththe developmentofAI,awidervarietyofconditionsand diseasescanbeeasilyhandled.
AIisparticularlyusedtoimproveimagingmodalities whichincludereadingX-Rays,CTscansanddoubtful nodulesandlesionsincancerpatients.Thistechnology combinesmachinelearningandneurosciencetogenerate powerfullearningalgorithmsintoaneuralnetworkwhich mimicsahumanbrain.
Treatment
Beyondscanningrecords,AIcan helptakeamorecomprehensive approachtowardsdisease management,assistinbetter coordinationofhealthcare programsandhelppatientsin managingtheirlong-term treatmentplans.UsingAI, doctorsareabletogather collectiveinformationon patient’svisitsandanalyze whichtreatmentworksbestfor them.
Formorethan30years,robotshavebeenusedinmedicine. Fromsimplelaboratoryrobotstohighlyadvancedsurgical robotsthatcanassistahumansurgeonorexecuteit themselves.Furthermore,theyareusedinlabsand healthcareorganizationsforrepetitivetasksandinsupport ofthosewithlong-termconditions.
CustomerService
Healthcareprovidersareusinghealthcarebotstotackle challengesinthisareaofmedicine.Patientscannow interactwithAIthroughphones,orawebsiteforalltheir medicalqueriesandrequests.Virtualassistantsare replacinghumansinbookingappointments,scheduling visits,medicationandevenbillingrequirements.Theyoffer 24/7medicalassistanceandimproveserviceforanybasic requests.Moreoveritleadstothedecreaseinadministrative costsforhealthcareproviders.
End-of-LifeCare
Lifetodayismuchlongerthanthepreviousgenerations, andwearedyinginadifferentandslowerfashionfrom conditionslikedementiaandosteoporosis.Itisalsoaphase oflifewhichisoftenlonely.Robotshavethepotentialto modernizetheendoflifecareandhelppeopleinremaining independentforlongerperiodsoftimeandreducingthe needforhospitalizationandcarehomes.
Eventually,allofuswillbeapatient.Wehavefamilyand friendswhowillalsobepatients.Machinelearningand ArtificialIntelligenceisaboutimprovingthelivesof individualssothatalltheacquireddatafromlabtests, genomicsandsoon,canbeanalyzedandusedinrealtime forthehighestqualityandmostefficientdeliveryof healthcareneeds.
Hospital Logistics: Accelerating
the Patient Flow in
Danish Hospitals
Formorethanadecadehospital productivityhasbeenapriorityin Denmark.Afocusonqualityand qualityimprovementshasreducedtherate ofre-admittancetoDanishhospitalsanda demandfromcentralauthoritieson hospitalstoincreasetheirproductivityby 2%everyyear,hasduringrecentyears resultedinalotofnewinitiativesand innovations.Withare-organizationofthe Danishhospitalstructure,thishasledtoa totalproductivityincreaseof30%since 2003.
The concept of Hospital Logistics and Solutions to improve logistics and create just-in-time scenarios in hospitals is another factor behind the productivity increase which is further explained in this article.
Healthcaresystemsaroundtheworldare challengedbyanincreasedshareof
elderlycitizensandchronicallyillpatients aswellasmoreexpensiveformsof treatment.
Thesefactorsarecausingasignificant demandpullintermsoftreatmentneeds aswellasexpectations,whichaccentuate theneedforourhealthcaresystemsto worksmarteronalllevels.Therefore, hospitalsneedtoconsidermeansto increaseefficiencyandproductivityin ordertobeabletotreatmorepatients withoutincreasingcosts.
Formorethanadecade,Danishhospitals andcompanieshaveworkedtogetheron improvinglogisticsinhospitals.The overallaimhasbeenthecreationof just-in-timesolutionsinordertooptimize coordinationandefficiencyandreducethe patients’lengthofstay.
InDenmark,thefocusonhospital logisticshasplayedanimportantrolein
achievinga30pct.increaseinhospitalproductivitysince2003.Optimizinghospitallogisticswithindifferentareas ofhospitalservicesandneeds,includingsupplylogistics,clinicallogistics,sterilegoodsandsamplelogisticscan acceleratethepatientflowandleadtoincreasinghospitalproductivity.
‘Just-in-time’logistics
InnovativehospitallogisticssolutionsarealreadyimplementedinDanishhospitalsinordertoreducedelaysand waitinginordertospeedupthepatientflow
AttheNewAarhusUniversityHospital,afine-meshedITsystem willenablereal-timelocalizationofpeopleandequipmentright downtoroomlevel.
AtAalborgUniversityHospital,theintroductionofasimilarand newsolutionhasresultedinacloseto20pct.efficiencyincrease.
Danishsolutionsforjust-in-timelogisticsincludesystemsfor locatingandtrackingstaffandequipment,solutionsfor automatingbasicandrepetitivetasks,aswellassolutionsfor guidingpatientsaroundthehospital,allofwhichhelpavoid delaysandpeaktimesinthehospitalprocess.
Samplelogistics
Acceleratingthepatientflowisalsoaboutreducingthetimefrom takingalabtestanduntiltheresultisreadyatthepointofcare.
AtHospitalofSouthernJutlandinAabenraa,thenumberof patientshasincreasedby13pct.,butwiththenewsample logisticssolution,thehospitalhasmanagedtocopeandeven reducetheaveragelengthofstay
Intelligentsolutionsforhandlingsampleshelphospitalsreduce theirsampleturnaround-timeandsubsequentlyspeeduppatient diagnostics.Fullyautomatedlaboratoriesimprovesampleflowby handlingandsortingallbloodsampleswithoutanymanual handling,therebyminimizingtheriskoferrorsandfreeingup timeforvalue-addingtaskssuchaspatientrelatedwork.
Hans Erik Henriksen Chief Executive Ofcer Healthcare Denmark
Sterilegoodsandsamplelogistics
TheCapitalRegioninDenmarkwillcentralizeall handlingofsterilegoodsattwodepartmentsatRigs hospitaletandHerlevHospital.Withfully automatedhandlingofsterileequipment,thetwo centerswillimprovehygieneandreducetheriskof infections.Atthesametimethebudgetfor purchasingandstoringsterileequipmentwillbe reducedbecauseofthejust-in-timesolution.
Thefuture
Integratedlogisticsisthenextstep.Automatic deliveryofmedicinefromthehospitalpharmacy directlytothewardsandjust-in-time housekeeping,basedonthehospitaldischarge system,isalreadyarealityinDanishhospitals. Storagespace,whichisbuiltdirectlyintothe hospitalwalls,willprioritizeshortwalking distances,largecoherentclinicalareasandpatient relatedfunctions.
Denmarkisintheprocessofbuilding16new highlyspecializedhospitalsthatareallconstructed ashospitalsofthefuture,takingintoaccountthe changingroleofhospitalsinourfuturehealthcare system.Whileoptimalhospitallogisticsis importantforallexistinghospitals,itisvitalforthe new,largeandspecializedhospitals.
Revolutionary Factors Affecting Pharmaceutical Industry Revolutionary Factors Affecting Pharmaceutical Industry
Theworldischangingatanever-increasingpace. Shoppingmallshavebeenreplacedwithonline shopping;traditionalclassroomshavegivenwayto onlineclassesandsoon,drivingyourowncarmayseem likeanostalgicactivity.PharmaceuticalIndustryisno different.Pharmaceuticalandlifesciencescompaniesare facinganupsurgeofchallengesasapartofwhatcouldbe theNewHealthEconomy
Theglobalpharmaceuticalindustryissaidtohavearelative growthoverthenextfewyears.Beonguardforthe followingpharmaceuticaltrendsandsettherightcoursefor yourstrategies.
PatientEmpowerment
Gonearethedayswhenindividualsreliedondoctorsfor diagnosis.Duetotheeasilyaccessibleinformation,patients todaycanlearnabouttheirhealthconditionsonlineand obtainthenecessaryknowledgetobeawareoftheavailable treatmentsandchoosetheonestheyprefer.Doctorshave losttheirpowertoinfluencethischoiceandthuspharma companieshavetolookfornewandinnovativewaystoget theirmedicationssold.
Thepatient-firstbusinessmodelhelpstodojustthat.The pharmacompanieswhichsucceedinpatientengagement increasestheirchancesofcommercialandregulatory successasdecisionsaretakeninaccordancewiththe patient'sneedsandresults.Forproductivecollaboration withpatients,pharmacompaniesarerequiredtofindbetter communicationtechniquesandalsoinvestinmoreeffective dataanalytics.Althoughmanypatientsareskepticalabout sharingtheirpersonalinformation,anindependentsurvey foundthatmostpeoplearewillingtoletpharmacompanies knowabouttheirmedicalactivitiesifitleadstoabetter care.
Furthermore,Virtualrealityisusedtomotivateconsumers tobemoreactiveandcompassionate.Ifusedasamarketing tool,thiscanbuildempathy,enabletrainingonmedical devicesandcreatedetaileddemosthatillustratethe mechanismofactionwithextremeclarityandhelpfacilitate astrongerbondbetweenpharmacompaniesandconsumers.
IncreaseinBiosimilars
Biosimilarproductsaresuspectedtocontinuetohavea significantimpactonthepharmaceuticalindustry.Dueto
theincreaseinapprovalofbiosimilarsandtheir rapidintroductioninthemarket,market conditionswillhavetoevolveaccordingly This willnotonlyprovidepatientswithnumerous treatmentoptionsbutalsohavetheabilitytoget drugsforseriousdisordersatamuchcheapercost thantheoriginalbiologics.Thisisanopportunity formanufacturersspecializingingenericsand biosimilarstogrowtheirbusinessrapidly.Itis saidtobeaverysizeableopportunityandif companiesdoitcorrectly,theprobabilityof successishigherthanthetraditional pharmaceuticalapproachandthecostof developmentshouldbelowerthannoveldrugs.
PrecisionMedication
Arbitrarycostsoftrial-and-errortherapiesandthe increasingneedfordecreasingthecostofhealthcarehas inspiredthetransitionofone-fits-allmodeltotheoutcomebasedtargetedtherapies.Precisionmedicineeliminatesthe needforguesswork,variablediagnosis,andgeneralized treatmentstrategies.Thusfaronlyafewcasesexistswhich usedgeneticinformationtomakeadecisionregardinga suitabletreatment.
Currently,thedrugdevelopmentindustryisheavily investinginprecisionmedicine.Furthermore,scientific advancementsingenomicsfieldsuggestthattimeandcosts arenolongerahindranceforprecisionmedicine.Increasing awarenessaboutthehumangenomeanditscorrelationwith diseaseprogressionareexpectedtoshiftthecurrentfocus beyondoncology.
3DPrintedDrugs
3Dprintingassuresafutureofdrugsbeingprintedon demandwithcustomdosesandthepossibilitythatprice maynolongerbeanobstacle.Thefirst3Dprintedmedicine thatdissolvesrapidlyisusedforthetreatmentofepilepsy.
Smallcompaniesarederivingothersolutionsforcreating drugsthatcanbemetabolizedfasterandcanbemarketed moreeasily.Becauseofthisentirepharmaindustrywill havetoberestructuredwithinyears,perhapsevenmonths.
DigitalHealthcare
Theglobalhealthcareindustryhasseenatransformation whichhasbeendrivenbyadvancesinbiopharmaceutical, medicalandsurgicalproceduresandautomation.The DigitalHealthapplicationsininformationand communicationtechnologiesaidtoutilizethefullpotential ofbigdataanalyticsandchangethehealthcareindustry Today,ifthepharmacompaniesarenotthinkingabouthow tointegratesuchprogramsandeducationalresourcesand notjustusethemasatooltopromote,theywillbeleft behind.
Thedigitizationofthepatient,fromtheelectronichealth recordstogenomemappingallowsfortargetedtreatment thatisrevolutionizinghealthcare.Theintroductionof mobilehealthsensorsandwearablesoffersareal-time insightintoapatient’sprogress.Furthermore,computers withtheabilitytoeasilyanalyzeenormousamountsofdata andscientificliteraturecanassistpharmacompaniesinthe developmentofnewdrugsandimprovetheexistingones.
CounterfeitDrugs
CounterfeitDrugsarefakemedicine.Theycanbeeither contaminatedorcontainthewrongorlackofactive compound.Pharmacompaniesarerequiredtotrackthe productIDfrommanufacturingprocessandtraceits movementthroughoutthesupplychain.Thesedrugsarenot justavailableviatheblackmarket,butarealsoaccessible throughlegitimatepharmacies.Fakedrugsaresaidtobe moredeadlythanterrorism.Anindependentsurvey concludedthat200,000peoplearekilledonanaveragedue tocounterfeitdrugs.
Allofthisconcludesintothecomplexityofthesupply chainofpharmaceuticals.Withanincreaseddependenceon outsourcedmanufacturersandthirdpartylogistics,thelack ofclarityacrossthevariouscomponentsofthesupplychain hasneverbeensoblurred.Thistogetherwiththeintrinsic demandunpredictabilityfromanywhereintheworldand thedisparityofsupplyanddemandmakesanincreasingly volatilevaluechain.
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