Top Ways COVID-19 is Impacting the Life Sciences Industry

May 19, 2020 by Stefanini

Though COVID-19 has devastated economies globally, it opens up opportunities for pharma companies. Learn about CliniTRUST, Stefanini’s latest offering.

Across the world, economies have felt the impact of COVID-19. And pharmaceutical companies are no exception. In fact, a survey of healthcare industry professionals showed that 95 percent are concerned about the impact of COVID-19 on company performance. Of these companies, those from the Asian Pacific market expressed the highest levels of concern. Further, according to GlobalData, 23 percent were also worried about supply and demand gaps connected to the COVID-19 outbreak. Significantly, a lot of these concerns stem from the global economy’s dependence on China, with manufacturers concerned that decreased Chinese production capabilities could result in drug shortages.

Challenges

Challenges faced by life sciences Challenges faced by life sciences

Additionally, they face these challenges:

·         Rising customer expectations: the commercial environment is getting harder to navigate. Consumers are demanding real-world outcomes data, and new therapies that are clinically and economically better than current alternatives.

·         Cultural sclerosis: new ways of doing business are hindering prevailing management culture.

·         Delay in R&D: because of travel restrictions, supply chain impact and the focus on COVID-19, research and development cannot be conducted as it normally was before the crisis.

An Opportunity for Pharma

Though COVID-19 has had a devastating effect on the economy, it also opens up opportunities for pharma companies to help limit the impacts of the crisis. Many pharma companies are working hard on finding a vaccine and companies like Gilead and Eli Lilly are seeing positive growth on the stock market. Further, innovation is blossoming as the race for treatment approval for a COVID-18 therapy surfaces. 

Stefanini Steps Up

COVID-19 has impacted every component of the pharma industry: Research and Discovery, Clinical R&D, Quality & Regulatory, Manufacturing and Supply Chain. Fortunately, Stefanini has developed a robust clinical trial automation platform that features Sophie, our cognitive platform and social listening feature. The platform will help pharma companies get real time information on what people are talking about when it comes to particular researchCliniTRUST is a one-of-its-kind solution for DDF Automation; it is robust, exclusive, and can be deployed on the private or public cloud.

While we forge ahead through the COVID-19 crisis, CliniTRUST is here to help lessen your worries; that’s why we are offering a free six month trial to pharma companies who are conducting COVID-19 related studies. Learn more about the solution here.

Watch our video presentation of cliniTRUST below

Learn more about how we can help your business grow

Though each industry’s response to COVID-19 have been different, universally, industries are reshaping the ways they do business through digital disruption.

Learn more

In the age of COVID-19, companies’ resilience is being tested in ways that have never been encountered before.

Learn more

COVID-19 has made it plain that we need to adapt to our new reality rapidly and with agility.

Learn more

In order to survive, they must communicate digitally. Businesses need to be seen and be recognizable on the web; to do so, they need a different communication plan.

Learn more

We adapt your communication to context to gain more relevance, always driven by data, and focused on finding new customers, regardless of the channel.

Learn more

COVID-19 has forced us to learn that we can be separate yet together – in fact, we are closer than we imagined.

Learn more

As an agile partner with nearshore, offshore and onshore delivery capabilities, we can provide you with flexible, cost-efficient application services.

Learn more

With our digital strategy, we provide sweeping coverage and support for all of your digital challenges, ensuring you stay ahead of the game, all the time.

Learn More

Increase ROI and end-user productivity with made-to-order digital workplace services from Stefanini.

Learn more

Learn more about how we can help your business grow

Reshaping Industries

Reshaping Industries

Though each industry’s response to COVID-19 have been different, universally, industries are reshaping the ways they do business through digital disruption.

Learn more
Building Resilient Businesses

Building Resilient Businesses

In the age of COVID-19, companies’ resilience is being tested in ways that have never been encountered before.

Learn more
Digital Needs

Digital Needs

COVID-19 has made it plain that we need to adapt to our new reality rapidly and with agility.

Learn more
Bring Back Loyalty

Bring Back Loyalty

In order to survive, they must communicate digitally. Businesses need to be seen and be recognizable on the web; to do so, they need a different communication plan.

Learn more
Win Digital Visibility

Win Digital Visibility

We adapt your communication to context to gain more relevance, always driven by data, and focused on finding new customers, regardless of the channel.

Learn more
Virtual Squad

Virtual Squad

COVID-19 has forced us to learn that we can be separate yet together – in fact, we are closer than we imagined.

Learn more
Application Services

Application Services

As an agile partner with nearshore, offshore and onshore delivery capabilities, we can provide you with flexible, cost-efficient application services.

Learn more
Digital

Digital

With our digital strategy, we provide sweeping coverage and support for all of your digital challenges, ensuring you stay ahead of the game, all the time.

Learn More
Workplace

Workplace

Increase ROI and end-user productivity with made-to-order digital workplace services from Stefanini.

Learn more

We're right here with you in your response to COVID-19

Share:
See more