Could Devices Help Pharma Improve Outcomes?
Many of todayâs pharmaceuticals are delivered by a specialized device. To explore all the considerations that go into bringing such complex products to market as well as the potential benefits for patients, MD+DI checked in with Chrissy Bell, Global Business Leader â Inhalation and Connected Health, 3M Drug Delivery Systems, and asked her a few questions.Â
How are drug delivery manufacturers and pharmaceutical companies working together these days to develop devices?
Bell: Generics are having a major impact on how pharmaceutical and drug-delivery entities work together. Foremost, pharmaceutical companies are faced with the challenge of differentiating their branded drugs from competitors who are selling the same formulations. One very important differentiator is how the drug is delivered. If Product A creates a better patient experience than Product B, making it easier and more efficient for patients to administer the medication, we theorize that Product A will be in higher demand in the marketplace.
Moreover, with the arrival of generics comes the growing need for increased speed and flexibility in order to compete in a fiercely competitive space. In the generics world, a successful business model is dictated by three main factors: being the first to arrive on the market, offering the lowest cost option for consumers, and maintaining the quality expected from the brand-name product. Due to that, all parties involved...
Source: MDDI - Category: Medical Devices Authors: Daphne Allen Tags: Business Source Type: news