Most of the leading bio-science, life-science and pharmaceutical companies have strong digital transformation programs in place.
IT services company Cognizant has generated revenue of $4.668 billion (+9.5 percent) from healthcare vertical alone in 2018. Cognizant’s total revenue of $16.13 billion (+8.9 percent) last year was driven by digital initiatives of its business clients.
Several bio-science, life-science and pharmaceutical companies announced their latest financial results for the December quarter. They revealed their digital transformation and investment programs to boost efficiency. Some leading pharmaceutical companies do not have strong digital transformation programs.
Twist Bioscience has opened up its Twist API to any customers who like to integrate this within their work flow. API enables customers to connect directly to the system from their automating all traction with Twist visa going through the e-commerce platform.
“It enabled a direct digital communication between organization consistent with our efforts to provide a seamless user experience to this customers and increasing the stickiness of our brand,” Twist Bioscience CEO Emily Leproust said.
Pulse Biosciences says it will leverage the growing digitalization of healthcare by networking its CellFX Systems, enabling a utilization based business model and value added services through the network to its clinic partners.
The utilization based business model aligns the incentives of the patient, the clinic and Pulse Biosciences and will be enabled by the connectivity of the CellFX System. “We will also continue to strengthen our competitive values around our CellFX System,” Pulse Biosciences CEO Darrin Uecker said.
Sanofi is making investments in digital and data sciences to accelerate the pace and reduce the cost of clinical development in the future.
Sanofi has several programs that include remote continuous monitoring of patients using wearables and other sensor technology. Its digital initiatives are aimed at faster patient recruitment, automation of regulatory document preparation and more.
“We’re in the process of expanding our competencies in data sciences, machine learning and artificial intelligence organizing the effort around the hub and spokes model,” Sanofi CEO Olivier Brandicourt said.
Novartis says digital transformation will become a significant pillar to become more efficient in drug discovery, sales forces as well as in manufacturing and development trial operations. “We have a dedicated organization that’s working tirelessly right now to make each one of these projects a reality,” Novartis CEO Vasant Narasimhan said.
Anthem said it aims to accelerate investment in AI, digital, clinical integration, and provider collaboration. Anthem and IBM announced a collaboration to create a health utility network using block chain technology to improve transparency and interoperability in the health care industry.
“We view block chain as an enabler for establishing trust. Access to medical information has been a stumbling block for creating a seamless consumer experience,” Anthem CEO Gail Boudreaux said.
The company said improved sales execution reflects its investments and new products such as Act Wise are fully integrated consumer driven health plan and spending account solution.
Currently, more than 800,000 subscribers and 9,000 employer groups utilize Act Wise. Anthem Health Guide, its concierge service model that integrates Anthem’s telephone and digital channel, clinical program and predictive modelling is accelerating its commercial growth.
Pfizer said it improved operational effectiveness. Pfizer is initiating an enterprise-wide digital effort to speed up drug development, enhance patient and physician experiences and access and leverage technology in robotics to simplify and automate its processes, said Pfizer CEO Albert Bourla.
Allergan CEO Brenton L Saunders said the pharmaceutical major has increased the scale of its consumer and digital marketing programs, including new consumer campaigns for both BOTOX and JUVEDERM.
Johnson & Johnson
Johnson & Johnson aims to e-commerce and digital capabilities and deliver innovation while expanding margins.
Johnson & Johnson’s Medical Devices business is looking at robot-driven digital surgery platforms in the future.
“We will be progressing our efforts in digital surgery including robotics, which is a critical element to our future success,” Johnson & Johnson CEO Alex Gorsky said.
Enterprises will be spending $2.9 trillion on information technology and communications by 2022, according to the latest IDC report on IT spending forecast. Digital transformation will ensure the growth in ICT spending.
The fastest growth will come from the professional services segment (7 percent), including cloud and digital service providers, which will account for a rapidly increasing share of overall tech spending. Other fast-growing segments include media (+6 percent), banking (+5 percent), retail (+5 percent), and manufacturing (+5 percent).