As wearable technology spreads throughout society, it has the potential to revolutionise society by streamlining, speeding up, and simplifying tasks. These innovative technologies hold great promise for patients, doctors, payers, and pharmaceutical companies shares Nikkhil K Masurkar, CEO, Entod Pharmaceuticals in conversation with Kaanchi Chawla of Elets News Network (ENN). Edited excerpts:

How do you think the rise of digital health tools, such as wearables and mobile health apps, will impact the pharmaceutical industry in the coming years?

As wearables become increasingly ubiquitous, they have the potential to revolutionise society by making tasks faster, simpler, and more streamlined. These new technologies offer tremendous promise for patients, physicians, payers, and pharmaceutical companies alike, as they can provide valuable tools for everyone involved in healthcare. In the near future, wearable pharma technology will not only collect data, but will also automatically utilise this data in practical ways, such as providing real-time feedback to medical practitioners, market research firms, or drug developers. As the number of individuals using mobile health applications continues to increase, pharmaceutical companies may soon have access to vast amounts of data that could fundamentally alter the direction of the industry. This presents a golden opportunity for pharmaceutical companies to leverage their expertise and understanding, and to reach and serve various segments of the health space.

Can you mention any specific innovative technologies that Entod Pharmaceuticals is using or plans to implement in the near future to improve drug development and patient outcomes?

There are several innovative technologies that we are using or planning to implement in the near future to improve drug development and patient outcomes. We are using AI and ML to analyse large amounts of data, such as clinical trial data, electronic health records, and genomic data, to identify new drug targets, predict drug efficacy and toxicity, and optimise the clinical trial design. AI and ML can also help personalise treatment plans and improve drug safety. We are also in the process of using blockchain technology. Blockchain technology can be used to create secure and transparent systems for tracking drug supply chains, from manufacturing to distribution. This technology can help prevent drug counterfeiting and ensure that patients receive authentic and safe medications.

Lastly, what do you think is the biggest challenge facing the pharmaceutical industry today, and how is Entod Pharmaceuticals addressing that challenge?

One of the biggest challenges facing the pharmaceutical industry today is the high cost of drug development and the pressure to keep drug prices affordable while continuing to innovate and invest in research and development. We are addressing this challenge in several ways. One approach is to increase efficiency and productivity in drug development by adopting new technologies, such as AI and ML, to streamline the drug discovery process and reduce the time and cost of clinical trials. Another approach is to collaborate with academic institutions, other pharmaceutical companies, and government agencies to share data, resources, and expertise. This can help reduce duplication of efforts and accelerate drug development. We are also working to diversify our product portfolios by developing drugs for rare and neglected diseases, which can receive special regulatory incentives, and by expanding into new therapeutic areas. Finally, we are engaging in dialogue with policymakers, patient groups, and other stakeholders to address concerns about drug pricing and access. This includes participating in public-private partnerships to develop innovative financing models and supporting legislation that promotes affordable and accessible healthcare.

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