As a variety of issues continue to impact the global supply chain, pharmaceutical and biotech companies must plan for uncertainty. As Pharmaceutical Executive
In order to maintain supplies across markets, manufacturers and suppliers must prepare for disruptions and have plans in place to deal with them. Also, as the tariff and MFN situations evolve, pharmaceutical companies are adjusting global launch and pricing strategies.
Pharmaceutical Executive spoke with Jessica Lovett, VP of commercial strategy and innovation at Innomar, at the Asembia ASX26 Summit in Las Vegas. During the conversation, she discusses how Innomar is adjusting its strategies to adapt to these uncertainties.
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Pharmaceutical Executive: How are you adjusting strategies to adapt to an uncertain global political and regulatory market?
Jessica Lovett: Uncertainty is a matter of discipline right now. The discipline of really looking at the considerations that are going to be so vast in change, from tax considerations, payer decisions that are happening, and then I would also say (with respect to pharmaceutical or biologic that requires different nuances in The Canadian market) how they are paid for, supported, regulated within market to market.
If you’re taking your European markets versus us in Canada, for instance, even with patient services as an example, what is funded in one market, in oncology as an example, in the US market is funded very differently in the Canadian market. So that uncertainty has to be a discipline, and the consideration of a global-to-local lift and shift is just not there anymore.
The administration of a product may reside in a hospital or infrastructure. It may not reside there today in the Canadian market, as an example. The ability to be able to gain access for that patient gets even more diverse as you’re looking to the complexity of the administration. If it is an infused versus injectable versus oral, that has to be taken into account.
All of those layers also factor into how decisions need to be pre planned a little bit. And yet, as we’ve seen in the dynamics of our market today and the global decisions that are being made, things happen fast, and we have to be able to pivot from it.
The second piece is being plugged into the full access ecosystem, and how you do that. There are going to be many large pharmaceutical companies that have that underpinning and foundation within their infrastructure.
So they will have global partners that are providing that pull through to be able to think about and consider what the impact scenario is for a local market. Some may not have that consideration and where we would look to be able to support that is taking what we do at Cencora’s level and plugging in to each of our partners from many different aspects across the globe, but at a local infrastructure.
What does that mean, and how does that relate to partnerships? Pulling through that ecosystem to be able to share those insights in advance of entering that market, from regulatory, tax consideration, payer strategy, and be able to say what is the market telling us right now that is not going to be able to be a global lift and shift, but it’s going to diversify the differences and the similarities that you have to be able to pull through.
