Global Tech Summit 2023: Experts highlight potential impact of technology in revolutionising drug discovery
The Global Tech Summit 2023 is set to take place in Visakhapatnam on 16th and 17th February
The summit team, led by Dr Srinubabu Gedela, CEO, Pulsus Group, recently held a roadshow and business-to-biopharma digital transformation policy design meetings in Nagpur as part of the 72nd Indian Pharmaceutical Congress (IPC).
This event brought together 50 influential policymakers, global pharma experts and other decision-makers to discuss how the Global Tech Summit is becoming a revolutionary platform for the application of cutting-edge technology in drug discovery, regulatory affairs, and making medicine more affordable for all.
During the Round Table (RT) series of Biopharma Digital Transformation Policy Deliberations, participants heard from key figures in the industry about the challenges facing regulators in digital healthcare.
Dr Dominique Jordan, President, International Pharmaceutical Federation, highlighted the potential impact of technology in revolutionising drug discovery. “Digital transformation in the pharmaceutical sector involves implementing various digital technologies to improve the production and provision of healthcare products and services.
“Digital transformation can benefit the pharmaceutical industry in a variety of ways, including improved drug development, patient care and interaction; technology helps to make medicine more affordable and accessible; it reduces carbon footprint; and it improves supply chain transparency.”
The Global Tech Summit team and experts in attendance also discussed the importance of using digital technologies in drug discovery, such as Artificial Intelligence (AI) and Machine Learning (ML). Dr Atul Nasa, former Controlling Licensure Authority, and current President, Indian Pharma Graduates Association, said, “AI and ML can help accelerate drug discovery by analysing large amounts of data and identifying potential drug candidates quickly and efficiently.”
“Regulators must find a balance between encouraging innovation and protecting public health,” said Dr HG Koshia, Commissioner, Food and Drug Control Administration (FDCA), Government of Gujarat. Dr Montkumar M Patel, President, Pharmacy Council of India, also spoke at the meeting about some of the challenges facing regulators when it comes to digital healthcare.
Abhijit Ghoshi, Assistant Drug Controller, Medical Device Standards Control Organization, provided his expert opinion on the potential way forward for India. “Digital transformation in the pharmaceutical industry is inevitable, and India should take the lead in developing policies that encourage innovation while protecting public health.”
Dr T V Narayana, President, Indian Pharmaceutical Association, and Dr Alka Mukne, Editor-in -Chief, Pharma Times, emphasised the importance of collaboration between the pharma and academic industry, stating that combining the financial backing of pharma companies with early-stage drug molecules from academic institutions is a key source of innovation, with many successful assets being developed and commercialised through institutional technology out-licensing.
Dr Nasa also expressed his support for making the Global Tech Summit 2023 a platform for digital transformation in the pharma industry.