Sunil Roy Wadhwa, Head, API Manufacturing – API Unit 9, Viatris, spoke on a very pertinent topic, ‘Balancing profitability with sustainability.’ As a senior pharma professional and leader with proven success driving start-ups, transformation, and turnaround initiatives, he drew from his immense experience and expertise to share insights on development of cutting-edge business practices and manufacturing processes to deliver innovative pharma products across multiple disease areas. He was emphatic that today, profitability is not enough. A business operation must be sustainably profitable to provide some assurance that the profits will continue to accrue tomorrow. He also explained that sustainable profitability means profits are reasonably expected to be maintained at the same or higher level in the future.
Pointing out that governments at local and national level are supporting environmentally friendly businesses with incentives, he outlined key functional areas which needed more focus, to balance profitability with sustainability such as:
◆ Aiming at RFT (Quality and Quantity) ◆ Cost reduction (Recycling,
◆ Backward integration (Availability and Dependency)
◆ Two-way communication (Supply Chain Management and Logistics)
◆ Welfare (Employee and Environment)
He urged the industry to adopt a more strategic and holistic approach for sustainability supported through measures like digitalisation, cost optimisation and collaboration. A vital message from his address was, “Don’t see healthcare as it is, but as it should be. Act courageously, uniquely and target to be a source of stability.”