Deloitte explored digitalization in pharma industry with EUCCC

On 24 November, a seminar held by European Chamber of Commerce in China (EUCCC) and co-organized by Deloitte China LSHC team on From Doing Digital to Being Digital: The New Normal for Pharma Companies was successfully concluded in Shanghai. Deloitte experts and corporate executives jointly explored the digitalization of the pharmaceutical industry in future development.

Jens Ewert, Deloitte China Life Sciences & Health Care Industry Leader, Board Member (Shanghai) and National Chair of the Investment Working Group in European Chamber delivered opening remarks. He pointed out that with the covid-19 pandemic, pharma and healthcare companies have accelerated the use of new technologies and experiment new business models in China’s pharma and healthcare industry.

Deloitte China LSHC Consulting Partner Carrie Xiao shared China insights in her keynote speech on Digitalization in the Pharmaceutical Industry in China. Carrie provided insights on digital opportunities and imperatives in China, in particular around the new commercial engagement model. "Pharma companies should play a leading role in the Chinese digital healthcare ecosystem," Carrie said. Pharmaceutical companies need to develop tailored strategies for innovative and mature products in China and significantly redefine their commercial engagement models. "It is not absolutely an easy journey, but feasible when done right", said by Carrie.

Afterwards, representatives of Sanofi and Alibaba Cloud responded to the topic of digitalization in the pharma industry. Dr. Pius S. Hornstein, General Manager for General Medicines and Country Lead at Sanofi China, gave a presentation on The Future of Patient Journey, describing a bright prospect of digital progress for patients. Moreover, Mr. Rui Chen, Solution Architect from Alibaba Cloud, talked about Power the Digitalization of the Pharmaceutical Industry. He detailed to analyse AI powered drug discovery and clinical research with practical cases, stressing that pharma companies should consolidate data and leverage technology platforms to promote digital transformation.

To conclude the seminar, the panel session, moderate by Jens Ewert, invited all speakers together with Sophia Xiong, Director of Advention Business Partners, to jointly discuss the main challenges to roll out a digital strategy. Also, they shared views on key factors to achieve digitalization in China and the key elements to accelerating the process, making the digitalization practice applicable in other countries or regions. Consensus among the panel members, was that technologies, innovation and talent all key ingredients to make this journey eventually successful.

Deloitte believe that digital transformation is one of the strategic priorities for the sustainable growth of pharma companies, and is committed to assisting in industry companies and organizations to drive the transformation in their digital journey.