Trescon brings you yet another interview with our valued speaker at PCCA17, Himanshu Goyal, India Sales and Alliances Leader, The Weather Company, an IBM Business.
Himanshu has always been fascinated with how things work from gadgets to hardware and software. His early passion for tinkering paved the way for his commitment to tech innovation and formed the basis of his core belief: continuous reinvention is how businesses disrupt and lead.
1. What is your opinion about the present condition of the life-sciences industry in India?
Many Indian companies have shown tremendous promise in building their R&D and doing interesting research in the Pharma and Life Sciences area. We are seeing growth in the Indian market demand as the number of people with health insurance are increasing. While all this is happening, we see that drug adherence is decreasing which brings us to another challenge to understand the possible factors related directly to drug efficacy. Companies are seriously looking at understanding patient journey, and ways to increase sales via drug adherence and patient satisfaction via drug efficacy.
Indian companies are moving towards building an effective Drug Portfolio, which means moving towards their own patented drugs, with focus on biologics and bio-similar to differentiate future pipeline. Therefore, the focus on supply chain optimization is more than ever before. We believe The Weather Company data and xtLytics analytics capabilities are addressing this need. The future pipeline is concentrating on age related diseases (Diabetes, Arthritis), Respiratory and Oncology (future pipeline shows very few initiatives in Neuroscience and Cardiovascular area). We will see a lot of partnerships and associations in the coming year. Additionally, there are ways to engage with patient, payer and physician as per applicable regulations for different countries.
2. What do you think about the current state of affairs of new age technology implementation in the life sciences stream?
Companies are very advanced when it comes to manufacturing capabilities. We see a log of initiatives in increasing the usage of data analytics for making decisions at different levels during the drug life cycle.
New technologies such as The Weather Company Data, disease specific pre-built predictive algorithms from our partner xtLytics, IBM’s cognitive and block chain technology and personal medicine will see further adoption in future.
3. What does The Weather Company, An IBM Business, have to offer to the Life Sciences stream? And in what way? Could you share any success stories with this regard?
The Weather Company strives to help you make better business decisions everyday with accurate weather data and forecasts. Our forecast modeling approach is unique. We use 162 forecast models to predict the weather with high accuracy.
Asthma: A change in weather condition — from cold air to humidity and even thunderstorms can prompt an asthma attack.
COPD: Weather changes can trigger shortness of breath, cough, and phlegm production for COPD patients. COPD admission rates are directly related to weather.
Diabetes: Research shows that when there is a rise in temperature, people with diabetes end up in the ER and are hospitalized.
Weather Effect on Arthritis: It is a well-known fact and common knowledge.
Dermatology: There are more claims for high heat index days.
Vector-borne diseases: Mosquitoes, flies etc. have a tendency to grow in monsoon and otherwise water centric areas. So, while weather is directly impacting the disease itself, it is also playing a role in side-effects of drugs, storage and efficacy of drugs.
To download 5Ps of Healthcare by xtLytics, click here.
4. In your opinion how will analytics help the life-sciences industry?
Analytics is not optional anymore and it is enabling decision-making in all departments and at all levels (strategic and tactical).
At the Pharma CIO Conclave, we presented case studies about how Weather data and xtLytics’ unique 360° – 5P analytics approach & pre-built predictive algorithms are helping the future and current drug pipeline as well as optimizing the supply chain.
Additionally, we will see many rare diseases in companies’ drug portfolio. This will increase the need to understand patient journey, drug adherence and drug efficacy driven by the capabilities mentioned above.