From generic drug makers to gene therapy biotechnology companies, the Life Sciences industry today is under a tremendous amount of pressure and scrutiny. High-profile drug shortages, causation around the opioid epidemic, and apparent consumer price gouging have led to a massive amount of negative press and sullied reputations. In addition, with R&D costs continue to rise, the U.S. Food and Drug Administration’s (FDA) limitation of approved medicines, and stakeholders demanding profitability, the importance of an efficient and streamlined supply chain is greater than ever.
High-volume fulfillment metrics, material handling automation, and serialization are key focuses for many generic pharma companies. For specialty pharma, quality control practices and smart manufacturing are top of mind. Whatever the key challenges are, savvy supply chains are continuously looking for new ways to innovate and gain efficiencies that create advantages and limit risk in the market.