Reprioritizing I There is no denying the damage that COVID-19 has done globally, economically, and individually. The companies across the world are changing priorities in the wake of this pandemic. Since the Healthcare industry is on the forefronts, healthcare professionals, nurses, and pharmaceutical companies are setting new priorities to fight this disease.Â
Treatment and prevention
Firstly, Treatment and preventive medicines are both being prioritized by Healthcare companies to meet the demand of Hospitals and public health as the crisis sets in. Pharma companies are handling the situation efficiently by testing the ability of existing drugs to treat COVID-19 and vaccine development efforts undertaken by resourceful pharma companies collaborating and initiating partnerships to find solutions for this problem.
Reprioritizing the supply chain under the crisis
Secondly, the supply chain of the medical industry is disrupted because of its dependence on Asian countries like India and China for Active Pharmaceutical Ingredients (API) supply. Moreover, the demand for protective apparels, equipment, and drugs to treat acute viral illnesses is likely to increase in the market as well which will further burden the industry. To avoid the supply chain fiascos, the companies should have a complete knowledge of their supply chains by pressure testing related to the COVID-19 circumstances. Finding alternative supply sources for logistic turbulence of critical elements during the crisis and minimizing supply shortage in the hospitals and health centers that need it the most. In short, by redefining the manufacturing strategy, the supply chain network should be robust and optimized to avoid dysfunctionality for COVID-19 and Health crisis too.
Reprioritizing in R&D
Thirdly the Pharma industry stands on the foundations of its R&D departments and it should not be neglected while setting long-term priorities by companies.it is expected that in the wake of this pandemic, Pharma industry’s R&D is likely to face problems of certain clinical trials being deprioritized by pharma companies to find immediate solutions. But keeping ongoing R&D clinical trials and medical supplies for the virus and other infections s is very critical in finding a way to completely fight a disease, whether it be COVID-19 or any other infection. Making ineffective short-term plans to deprioritize certain clinical trials will cost greatly in the longer term. One effective way to deal with this is to identify the logistic gaps to keep the clinical trials running even choosing alternative sites for the clinical trials would go a long way.
Patient Care and services
Though the COVID-19 is likely to cause major damage across all fields but the pharma industry’s foremost priority should be the health of the patients. Hence, apart from diagnosing, treating and preventing the disease, the companies could assist hospitals with the provision of resources and site options needed to curb this pandemic with promoting mobility in the health care system with digital and more mobilized options to help patients, considering the existing limited capacity of hospitals.
The present turbulent circumstances demand the pharma companies to act responsibly beyond the industrial interests, reprioritize with smooth supply and provision of resources timely in the areas needed. Now is the time for the pharma industry to act efficiently and responsibly to help curb this disease.
