"Are we doing business the wrong way around in the Life Science Sector?"

For the past 50 years we have created solutions for problems that we thought would solve the problems. Pharmaceuticals have created big block buster drugs which were great for that time but now we realise that these drugs were in fact only tested in white men and certainly not for patients who are older who are taking a number of medications.

We now have a situation where we have so many silos, a Life Science Sector that has organisations that are privately funded and also public organisations and also we are governed by the political system that changes every 4 years.

We have invested so much tax payers money into innovation into Sweden where we have now reached the top innovation system in Europe, but how much really reaches society and actually gets implemented?

I truly believe that the way we need to start thinking about business by starting with what do we need, especially when it comes to the healthcare system as they do not know where to go to find a solution. Or are organisations even interested in finding a solution?

We have the Medical Device Regulation that comes into effect in May 2024 that seems to be a far away but, there are going to be products that are now longer going to able to buy, produce and do the users or patients even realise this?

We talk about precision medicine and how much we can do with this but, when will we see polygenic i.e. when will we be able to see what we will be ill in the future whether that be a breast tumour or heart attack, diabetes type 2 or if we need more vitamin D. There is also the question about the data that we have been collecting but have not really investigated this.

I have been reading a very interesting book about “The end of Medicine as we know it – and why your health has a future”.

Our future certainly has a future but if we do not start to move the ship in the right direction now and stop just creating more and more business with the hope that they will be reimbursed or some healthcare system in the world will buy it or even if they have the money in first place to buy it. We really will not have a future life science sector.

Lucy Robertshaw is the chairperson for the event Pharma Outsourcing in Stockholm at the December 1st.

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