According to Andrew Thompson, CEO of Proteus Digital Health, the ‘digital era’ of pharma has begun
His company – which has coined the term ‘Digital Medicine’ to describe the new category of pharmaceuticals that combine drugs, devices, and digital applications – is one-year into a partnership with global pharma giant, Otsuka, to go ‘beyond the pill’ in terms of improving patient health outcomes.
I sat down with Thompson at Frontiers Health to get a breakdown of exactly what this new age in pharma means for those in the business, as well as for those who consume their products, the patients.
Remember how Apple changed the music industry with iTunes? Or how Google disrupted the advertising industry with search marketing? Or, how about how the banking industry shifted their attitudes toward consumers from ‘come see me on Bond Street’ to ‘go ahead, bank from your bedroom!’?
Thompson believes pharma companies are about to be disrupted in the same way – and talks about the change in mentality that’s needed in order to survive. IP is no longer just for molecules, but for processes and communication patterns…
So, how does a pharma company win in the digital revolution? Says Thompson,
The big prize in digital technology is not just that you make products and services that are much more tailored to individual consumers, but that you create vastly bigger and new business models…
Listen in on the interview to find out how.