MINI PROJECT REPORT - 2

PHARMACEUTICALINDUSTRY

IN

HEALTHCARE SECTOR

SUBMITTED IN PARTIAL FULFILLMENT OF REQUIREMENTS FOR THE AWARD

OF THE DEGREE OF

MASTER OF BUSINESS ADMINISTRATION

BATCH (2022-2023)

Submitted by: - Submitted to: -

Pallavi Yadav Dr Nidhi Tiwari

MBA 2nd Semester

Roll No2200110700132

UNITED INSTITUTE OF MANAGEMENT NAINI,

PRAYAGRAJ

I
 UNITED INSTITUTE OF MANAGEMENT
A-31 UPSIDC Industrial Area, Naini, Prayagraj - 211010

Ph. 0532-2686070. 2686090 Fax 0532-

2687147

Certificate

Mini Project Report 2 (2022-2023)

This is to certify that Ms..……PALLAVI YADAV .................. , Roll No- 2200110700132.

student of MBA 2nd Semester of our institute has prepared a report on the

 Topic…………PHARMACEUTICAL INDUSTRY IN HEALTHCARE SECTOR…..

She has worked on identifying issues & challenges as well as the application of emerging

technologies in the above industry, under my supervision and has completed the same in

conformance with / partial fulfillment of the provision of AKTU, Lucknow.

The work is original and has not been submitted anywhere else is any manner.

Signature…………………………………….

Name Mr./Ms/Dr…….……...……………….

Department of Business Administration

Date………………

Counter Signed

Signature…………………………………….

(Prof. K.K Malviya)

Principal

II
 Date………………………

DECLARATION

This is to certify that I have completed the Mini Project 2 Titled “PHARMACEUTICAL
INDUSTRY IN HEALTHCARE SECTOR” under the guidance of Dr Nidhi Tiwari in
partial fulfillment of the requirement for the award of degree of Master of Business
Administration at UNITED INSTITUTE OF MANAGEMENT NAINI, PRAYAGRAJ
(U.P).

This is an original piece of work and I have not submitted it earlier elsewhere.

Date: Candidate’s signature

Place: Prayagraj PALLAVI YADAV

University Roll NO- 2200110700132

Name:DrMohit Kumar Name: Prof. K.K Malviya

(Class Coordinator) (Principal)

United Institute of Management United Institute of Management

III
 ACKNOWLEDGEMENT

It is a matter of great pleasure to thanks all esteemed who helped me to complete my final my

mini project 2 successfully otherwise it would not been possible.

I would like to express my deepest gratitude and thanks To PROF. KK. MALVIYA

(PRINCIPAL UIM), DR. Rohit kumar vishwakarma (HEAD OF DEPARTMENT

UIM), Dr. Mohit kumar (CLASS COORDINATOR) for the valuable

guidance and constant encouragement which extend to me through my project.

I feel to acknowledge my indebtedness & deep sense of gratitude to my guide Dr. Nidhi

Tiwari, United Institute of Management, Prayagraj whose valuable guidance & kind

supervision was given to me throughout the project which shaped the present work as it shows.

PALLAVI YADAV

MBA 2nd Semester

Section-C

Roll No:2200110700132

IV
 INDEX
CHAPTER TOPIC

1. Introduction

2. Objective of the project

3. Review of literatures

4. Industry Overview

5. Issues and Challenges

6. Impact of technologies to resolve issues

7. Suggestive Strategies

8. Learning Outcomes

9. Recommendation(s)

10. Bibliography

V
 INTRODUCTION

According to Government sources expenditure on medicines in India will grow at least 9 to

12% in the next five years or say, making India one of the top 10 countries in terms of medical

spending. The future of the industry depends on the medical infrastructure" This industry

includes number of regulatory bodies that monitor patents, drug safety. quality and pricing of

drugs. India is the largest provider of generic drugs globally. Indian pharmaceutical sector

supplies over 50% of global demand for various vaccines, 40% of generic demand in the US,

and 25% of all medicine in the UK. Globally. India ranks 3" in terms of pharmaceutical

production by volume and 14 by value. The domestic pharmaceutical industry includes a

network of 3,000 drug companies and -10.500 manufacturing units. India enjoys an important

position in the global pharmaceuticals sector. The country also has a large pool of scientists

and engineers with the potential to steer the Industry ahead to greater heights. Presently, over

80% of the antiretroviral drugs used globally to combat AIDS (Acquired Immune Deficiency

Syndrome) are supplied by Indian pharmaceutical firms.

In 1969, Indian pharmaceuticals had a 5% share in the domestic market and global pharma had

a 95% share. By 2020, Indian pharma has almost $5% share. The Ministry of Health & Family

Welfare regulates the industry in our country. Given our population, our government's focus

on the sector, both financially and administratively becomes extremely important. If you have

been considering the pharma sector for investments, here's an overview of the industry to help

you in your analysis.

Evolution of the Indian Pharma Industry

One of the initial developments in the industry was the introduction of the patent bill. The patent

bill was first introduced in 1970. The bill helped the Indian medicine industry to be less reliant

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on the U.S. intellectual property laws. While this may have eased production and

manufacturing domestically for a few years, India's entry into WTO in 1995 brought in many

changes: price control, trade restrictions, to name a few. It became more expensive for

homegrown companies to manufacture a drug that is patented in another country.

Many thought this could write off the Indian pharma industry completely but there were a

couple of factors that helped the industry to stay afloat. At this point, during the late 1990s and

early 2000s, the Indian pharmaceutical industry was just reprocessing drug patterns developed

in the other countries. However, later into the decade, our investment into homegrown R&D

infrastructure started to pick up. India's institutionalized norms, standards and practices for an

R&D wing aided the industry's growth to bring it to where it is today. The Indian pharma

industry can produce quality drugs at a cheap cost because of the R&D backup.

Other than R&D, lower cost of labour as compared to other countries. availability of

management and technical personnel and local equipment's availability for manufacturing

drugs has helped us to manufacture drugs at a very low cost. Other significant developments

were the expansion of the National List of Essential Medicines. The NLEM brought more than

10% of the medical industry under price control by the middle of 2016. A series of price cuts

on antibiotics, antidiabetics. Cancer and blood pressure drugs followed this development. Also,

with the National Pharmaceutical Pricing Policy Act 2012 (NPPP), the government had started

the practice of specifying a ceiling price for some drugs.

Performance of the Sector Over the Years

In the last 10 years, the BSE Healthcare Index has grown at a CAGR of 12% per annum and

the Nifty Pharma returned around 10.94% per annum in the past nine years. Nifty's performance

during the same time frame is 12.28% per annum and Sensex 12.72% per annum. Recently

with the spread of the coronavirus, pharmaceutical sector and mutual funds that invest in the

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pharmaceutical sector have performed better than its peers, BSE Healthcare has returned

47.23% so far this year and Nifty Pharma has returned 44.83%. With the expectation of a

vaccine and all the efforts by the industry in curbing the spread of the virus, investor confidence

and the demand for pharmaceutical securities seems to have risen. In equity funds, the pharma

category has returned around 51% since the start of this

Year, according to Value Research. This is the highest among all subcategories under Equity

funds. Growth Drivers and Opportunities of the Industry.

R&D Infrastructure: An Indian pharmaceutical company spends anywhere between 2-10%

of its revenue on R&D. Strong research and development activities helps the industry to move

forward in combating any unforeseen circumstances or any ongoing ones. India's R&D

infrastructure is lauded by many because of the cost-effectiveness, upcoming biotech industry,

government initiatives, upcoming biotech industry and more.

U.S. FDA Compliance: A prominent growth driver is that we have one of the highest

Number of FDA compliant plants outside of the U.S. This speaks volumes about our

Medical infrastructure. Low-Cost Production: Labour and production are way cheaper in

India than many other countries. Hence, we are able to produce drugs and vaccines at a much

lower cost. A FICCI report states that the cost of manufacturing formulations in India is at least

30 to 40% lower than most other foreign destinations.

Huge Workforce: The supply of local medical talent into the industry is larger than most other

countries. With one of the youngest populations in the world and many of the youngsters

picking up the medical profession the country sees a huge influx of aspiring medical students

joining the industry. This is an essential growth opportunity If the government can tap onto this

resource with strong academic infrastructure. If medical education can be regulated better, with

more professors and increased

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Medical seats, this huge workforce can be tapped. Health Insurance: Most of the medical

expenses in India are largely funded out of the pocket. This means that most of it is paid by the

citizens and very less is covered by health insurance. Health insurance is critical to the growth

of this industry and thus is a budding opportunity for the industry.

Medical Technology: Upscaling medical technology also provides us with a growth

opportunity. Government research conducted three years ago valued the medical devices

industry $5.2 billion in 2017. Robust medical technology is one of the main pillars as it plays

an important role in the delivery of healthcare services. Self-reliance: India still depends a lot

on foreign countries for the import of key raw materials in APIs and intermediates. With the

current situation at hand, the industry has a great opportunity at hand to reduce its reliance on

imports and explore domestic sourcing locations.

Digital and technology: Usage of new digital technologies and advanced analytics can upscale

the industry's growth, Manufacturing. R&D. quality, sales, supply chain, pharmacy and many

other sectors where usage of technology can be a significant growth driver.

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 OBJECTIVE

The primary objective of the report is to understand the Pharmaceutical Industry and to go

through various technologies that have been emerging within the industry.

Following objectives of the report are described as follows:

 To find out the major issues and challenges faced by Pharmaceutical industry.

 To identify emerging technologies in Pharmaceutical industry and how they help in

solving problems.

 To find out the application of AI in Pharmaceutical industry.

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 LITERATURE REVIEW

Dr. Shailendrakumar Kale, Dr. Vilis Pawar, Mr. Indrajeet Kole, Dr. Harshal Raje (2022)

The pharmaceutical supply chain is very crucial for theoverallindustry. A crucial role is played by the

Indian Pharmaceuticals industry when we consider the global pharmaceuticals industry. Indian

pharmaceutical industry fulfils a large portion of the globalpharmaceutical demand. After Covid-

19 pandemic, many retail outlets havemushroomed everywhere in India though it is good for the

business development, it putsa lot of pressure ontheexistinginfrastructure of the supply chain. The

level of responsiveness of the supply chain determines how quickly it can satisfy consumer

demand.The pharmaceutical industry is ensuring good service levels as itoperates at a 95 percent

service level.This research paper identifies challenges in pharmaceutical supply chain. Researcher also

narroweddown these challenges into two as Supply chain responsiveness and Service level. Here

researcher suggested that to enhance Supply chain responsiveness and Service level, pharmaceutical

industry should apply new techniques such asAI & ML.

This research paper identifies challenges in pharmaceutical supply chain through wide literature

review and concluded that the major challenges in pharmaceutical supply chain are 1] Supply Chain

Cost, 2] Inventory Management 3] Shelf Life 4] Transport Infrastructure 5] Reverse Logistics 6]

Short Product Life Cycle. These six challenges are commonly faced by pharmaceutical

companies with addition of one or twomore challenges depending upon their supply chain

structure. In Covid-19 pandemic, pharmaceutical industries realised importance of well-structured

supply chain and importance of responsible chain partners.These six challenges are narrow

down to two-Supply chain responsiveness and Service Level. Researcher suggested that to cope

with these two challenges, pharmaceuticalindustry must us techniques such as JIT, Block chain.

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Sushmita A. Narayana, Rupesh Kumar Pati, Prem Vrat (2012)

Purpose This paper aims to present a review of literature to assess the progress of research on

managerial issues in the pharmaceutical industry globally. Design/methodology/approach Literature

from peer‐reviewed journals available on online databases was collected for the last decade, using the

keyword search technique, and then classifying it according to major managerial issues, research

methodologies used and geographical zones. Findings Behavioral issues at the consumer/physician

level and non‐behavioral issues in pricing and medical expenses are studied the most, followed by

supply chain management, research and development and manufacturing and services operations

management. There is scope for conjunction of research efforts across themes and players. The studies

focus on the developed nations through the application of field research and mathematical modeling

techniques. The studies in the American region focus more on development and marketing while

studies in Europe are aligned towards manufacturing and distribution in the industry. Studies in the

developing nations are mostly exploratory in nature and require more focus on issues of research and

development and marketing in addition to a substantial increase in overall research efforts. More trans‐

continental studies are needed to consolidate research efforts globally. Research

limitations/implications The review is not exhaustive of all studies available on the industry and each

of the issues. Conference papers, unpublished material and lectures were excluded. Practical

implications Identification of the present and emerging issues together provides practitioners in

healthcare systems with an idea of available techniques and strategies to solve problems in

healthcare/pharmaceutical management. Originality/value A study on research of management issues

in the pharmaceutical industry across the world has perhaps not been conducted in the recent past: this

paper fills part of that gap.

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M Milanesi, A Runfola, S Guercini (2020)

In recent years, the sustainability of the pharmaceutical industry has received growing attention from

consumers, policymakers, and organizations. Concerns about the introduction of sustainability

practices into the development of new delivery systems, new products that pose a lower environmental

risk, waste recycling, the reduction of water usage, greener manufacturing methods, and recyclable

packaging have intensified attention on this topic. The sustainability of the pharmaceutical

industry has also aroused the interest of scholars from various disciplines, such as chemistry,

engineering, and environmental sciences. Even business and management studies are taking this topic

into account. A higher degree of management complexity is affecting pharmaceutical companies, in

which the need to ensure environmental, economic, and social sustainability, as well as to control

expenses, has led to the introduction of an economic logic into the management of sustainability issues.

Thus, we review existing business and management studies on sustainability in the pharmaceutical

industry with the following aims in mind: to depict the current status of the research, to delineate the

main approaches to sustainability, and to identify possible gaps and subject areas to be investigated in

future research. The analysis reveals that environmental sustainability has become a central focus of

management studies, especially in terms of cleaner production, green supply chain, green materials,

and sustainable human resource management. The paper proposes areas that remain unexplored and

might represent opportunities for future research, including waste management, the economic impact

of new drugs, the contribution of pharmaceutical companies to the economic sustainability of health

systems, and the study of emerging vs. mature markets.

Sustainability in the pharmaceutical industry represents an area of research that academic literature

has yet to deepen in its various facets. How the change in the pharmaceutical industry can take place,

and the impact it can have on improving the quality of life of individuals, and the hopes of leaving a

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better world for future generations also depend on how academic research contributes to generating

new knowledge in this area.

The healthcare systems across the world are constantly being subjected to differing needs of

consumers and funding and infrastructural constraints. Hence, the supporting role of the

pharmaceutical industry in developing and delivering good quality medical supplies to the population

is critical to the success of the healthcare initiatives taken up by various public and private

organizations. Subsequently, the issues of management in the pharmaceutical industry are of vital

interest to both practitioners as well as researchers. Considering the need for a holistic review of these

major issues, this paper has attempted a review of literature of the same, over the last decade (1999-

2009).

A content analysis of the literature on managerial research in the pharmaceutical industry has been

presented via the three basic categories, namely, the basic issues of interest, geographical spread of

the research and predominant research methodologies applied. The use of the inverted tree diagram

helps in providing a snapshot of all the basic issues and sub-issues with respect to the pharmaceutical

industry.

The basic issues and sub-issues studied in the management of the pharmaceutical industry, which were

identified, reflect a predominantly non-behavioral perspective focused on management of

assets/information/knowledge. The studies reflect research interest mainly in the critical role played

by the consumers and physicians through a high focus on their behaviors, and the importance of pricing

and medical expenditures in shaping industry decisions and policies. Extensive field research has

supported the application of mathematical modeling in these issues, which has contributed to better

conceptual clarity, especially in the American and European regions. There is also an increasing

emphasis on research and development and manufacturing activities at the level of the firm and supply

chain through an application-oriented perspective. An emerging focus on organizational behaviors and

non-behavioral studies of marketing strategies and other issues of strategic interest is indicated through

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the presence of IJPHM 6,4 372 field studies and conceptual/review studies. The studies depict an

evolution in research focus from efficiency management and specific actors (such as consumers or

physicians) in the industry towards a balanced and holistic approach in understanding and dealing with

issues in the industry as whole.

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 INDUSTRY OVERVIEW

The pharmaceutical industry is a vital sector that plays a critical role in the healthcare ecosystem by

researching, developing, manufacturing, and marketing pharmaceutical drugs and medications. Here

is an industrial overview of the pharmaceutical industry:

 Market Size and Growth:

The global pharmaceutical market is substantial and continues to grow. Factors such as an aging

population, increasing prevalence of chronic diseases. and advancements in healthcare infrastructure

contribute to the industry's growth Emerging markets, particularly in Asia and Latin America, are

witnessing rapid expansion and becoming significant players in the pharmaceutical sector.

 Research and Development (R&D):

The pharmaceutical industry invests heavily in research and development to discover and develop

new drugs and therapies. This process involves preclinical testing, clinical trials, regulatory approvals,

and post-market surveillance, R&D is a lengthy and costly endeavor, typically taking several years

and substantial financial resources.

 Intellectual Property Protection:

Intellectual property (IP) protection is crucial in the pharmaceutical industry. Patents provide

exclusive rights to pharmaceutical companies for a certain period, allowing them to recoup their

investments and generate profits. IP protection encourages innovation and fosters competition among

pharmaceutical companies.

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  Regulatory Environment:

The pharmaceutical industry operates within a complex regulatory framework. Regulatory bodies,

such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA),

oversee drug approvals, safety monitoring, and manufacturing standards. Compliance with regulatory

requirements is essential for pharmaceutical companies to ensure the safety and efficacy

of their products.

 Manufacturing and Supply Chain:

Pharmaceutical manufacturing involves strict quality control measures to ensure product safety,

consistency, and compliance with Good Manufacturing Practices (GMP). The supply cluain is

complex, involving the sourcing of raw materials, drug formulation, packaging distribution, and

logistics. Pharmaceutical companies often have global manufacturing and distribution networks to

meet market demand.

 Generic and Biosimilar Drugs:

Patent expirations for branded drugs open opportunities for generic pharmaceutical companies to

produce and market lower-cost alternatives. Biosimilar drugs, which are similar versions of biologic

drugs, are also gaining prominence. The entry of generics and biosimilars increases market

competition and provides cost-effective options for patients.

 Pricing and Reimbursement:

Pharmaceutical pricing and reimbursement policies vary across countries. Governments, insurance

providers, and healthcare systems negotiate drug prices and reimbursement rates. Pricing pressures,

cost-effectiveness evaluations, and healthcare budget constraints impact market access and

profitability for pharmaceutical companies.

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  Mergers, Acquisitions, and Collaborations:

The pharmaceutical industry is characterized by frequent mergers, acquisitions, and collaborations.

Companies seek strategic partnerships to enhance research capabilities, access new markets, diversify

product portfolios, and optimize operational efficiencies. These alliances contribute to the industry's

growth and competitiveness.

 Digital Transformation:

The pharmaceutical industry is embracing digital technologies to enhance various aspects of drug

discovery, clinical trials, supply chain management, and patient engagement. Digital solutions, such

as electronic health records, telemedicine, data analytics, and artificial intelligence, are revolutionizing

healthcare delivery and improving patient outcomes.

 Ethical Considerations:

Ethical considerations are paramount in the pharmaceutical industry. Adherence to ethical standards

in clinical trials, marketing practices, data privacy, patient confidentiality, and drug pricing is essential

for maintaining public trust and ensuring patient welfare.

The pharmaceutical industry's dynamic nature, driven by seientific advancements, evolving

regulations, and changing market dynamics, presents both opportunities and challenges for companies

operating in this sector. Striking a balance between innovation, affordability, patient access, and

sustainability is crucial for the industry's continued growth and contribution to global healthcare.

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 ISSUES AND CHALLENGES

1. General Education Oriented:-

Our education structure is of General Education in nature. Typically, general education does

not emphasize practical knowledge or research skills. The advancement of specialized and

professional education is very unacceptable and development of technical and vocational

education is quite unsatisfactory. So our education is unproductive. Hence the number of

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educated jobless people is growing by each day. This has changed into a prominent concern for

the Government.

2. Lack of Ed tech and online learning options for special needs of students:-

The segment of students who have been completely ignored in the evolution of online learning

is students with special needs. Special needs student need more personalized and hands-on

method of teaching.

Though technology has improved drastically, it is still heavily dependent on an expert or a

teacher guide the student. These problems have caused special needs students to fall behind

others in their academic pursuits.

3.Technical Issues: -

The COVID-19 pandemic has shown multiple technology issues the education sector is

suffering from. From teachers grappling with the basic controls of online collaboration

software, to the ones that face a tough time in sharing or creating digital files, there is a whole

other stratum of challenges that still need to be addressed.

4.Traditional process of question paper creation: -

The process of creating question papers hasn’t changed for ages, the only difference being that

the teachers are now creating question papers on the computer. They have to make the questions

themselves, and because of the obvious limitations of humans, the questions get repeated and

many times, teachers frame questions wrongly. While these issues are not significant in smaller

education levels, such as schools, they become crucial when it comes to entrance exams. Hence,

these exams are checked by the exam moderators and subject matter experts for maintaining

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integrity and correctness. This again adds to the operational overheads and makes the entire

process time-consuming, lengthy, and subject to leaks.

When it comes to classroom teaching, there is almost no variety in assessment tests and students

get tested only for those concepts that a teacher considers important. So, there are considerable

pitfalls and challenges in this segment. Further, even if large-scale technology adoption is done

via a question paper generator, the cost, training, and integration into the system are some

issues.

5. Boredom and Mundane Nature of Teaching:-

Studies reveal that one out of three teens in America is bored most or all the time in school.

Further, 80% of the students feel stressed and 34% feel depressed. And all these issues can find

their roots in boredom and the mundane nature of teaching.

What makes the entire scenario gloomier is the fact that the evaluation procedure for the

students continues to be the same for ages. The students who are unable to write fast, or describe

things or events properly lag in terms of score.

However, eventually, these scores carry no paramount significance in the advanced stages of a

career, as most exams tend to be objective in nature. Hence, there is a dire need for proper and

modern evaluation and testing procedures that focus on gauging the actual learning a student

has acquired.

6. Lack of Personalized Learning:-

Judging every student via a single exam is no longer relevant; especially when the objective

examination process is gaining popularity across the entire globe. Also, there is a lack of

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technologies that can help teachers impart personalized learning, in a limited period of one

class.

Hence, there is a grave need for personalization in education. After all, someone with an interest

in finance is not going to use Organic Chemistry synthesis concepts later in life.

7. Evolving needs and expectations of the "student consumer":-

Like any other business sector, the changing demands of consumers (in this case, students and

life-long learners) drive change in the education sector. Student demographics are changing,

while learners who would previously be considered 'non-traditional' are becoming the new

norm. As a result, there are new expectations for seamless higher education and life- long

learning experiences that fit different lifestyles, individual circumstances and preferences.

Younger generations entering higher education have a completely different point of departure

than previous generations. As digital natives, they have always had technology fully integrated

into most aspects of their lives, so why would they expect anything else when it comes to their

educational experience?

One-size-fits-all in education will soon be a thing of the past and individual learning paths will

arguably be less defined by traditional educational structures. Consequently, students

increasingly adopt a consumer's mindset and shop for flexible, seamless and personalized

educational experiences. They look at an increasingly diverse array of education providers to

fulfill their demands and will exercise choice by going elsewhere if their expectations are not

met - as is the case in most aspects of their lives.

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 IMPACT OF TECHNOLOGIES/
APPLICATIONS TO RESOLVE ISSUES

Application of Artificial Intelligence in Education Industry will enable solutions and tools that

empower teachers and students with a wide area of learning and teaching opportunities in

various formats. The technology will assists institutions in bringing about significant changes

in their processes and designing a curriculum based on knowledge. Al, in any form, will offer

a fascinating way for teachers to teach and help students learn through customized study

materials environment in a friendly

Today's way of teaching students and their study is very different from what it was some years

ago. Al-enabled technology will allow administrative tasks to be automated, enabling

organizations to reduce the time required to complete various tasks and everyday processes.

AI enabled technology will allow:-

1. Task Automation: -

AI shows great potential in automating administrative work and making the tasks of

organizations and professors easier. Consequently providing teachers and organizations more

time to communicate with students, plan for a class, or concentrate on other essential activities.

The technology has allowed the automation of paperwork classification and processing,

meaning that teachers and administrators no longer have to do these tasks manually. In the

coming years, AI could potentially create more efficient enrolment and admission processes.

2. Smart content: -

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Another way AI can change the education industry is by adding new methods for students to

achieve success. The term smart content is a very popular topic among organizations, educators

and students since it makes learning quite easier. When we talk about smart content we refer to

different types of virtual content including digitized guides of textbooks, video conferencing

and video lectures. Robots can improve the learning experience by creating customizable

learning interfaces and digital content that applies to students of different grades, for elementary

and post-secondary schools. They will be able to make the content easily digestible by dividing

it into comprehensible chunks, highlighting important lesson stuff, summarizing key points and

more.

3. Personalised Learning: -

While teachers cannot manage to personalize their teaching methods for a whole class, nor can

they provide one-on-one sessions for everyone, it seems like AI can be of great help here.AI

can do much more than making content easily digestible. It is also capable of giving

recommendations to students and teaching them based on the difficulties they are facing in

different lectures.

Smart tutorial platforms will serve as teacher assistants that personalize the students’ learning

experiences by considering their strengths and weaknesses. They pay attention to such data and

provide students with customized and specific feedback to allow them to learn effectively and

improve performance. Such tools can also track their progress and generate meaningful reports

for teachers to be able to continue creating materials that are relevant for each student.

4. 24/7 Assistance through chatbots: -

Traditionally, students have had to wait until they are in class or professors are available to

resolve any questions or doubts. But, not anymore.

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Various AI-powered chatbots created specifically for the education sector. They will serve as

round-the-clock assistants, students can consult from anywhere and at any time. This allows

them to get quick and relevant answers or solutions without having to wait for the next class or

office hours.

5. AI paper creater: -

AI-based EdTech software solutions, will be an excellent way to address the question paper

creation challenges. Users can create papers in multiple formats, such as – True/False,

MCQs, Statements, and Descriptive questions, with different complexity levels.

SUGGESTIVE STRATEGIES

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  Digital Transformation -

Digitalization of the industry that began not long before the COVID-19 crisis is still among

pharma trends in 2021. Below are some of the technologies that contribute to higher production

output, better quality of drugs and in this way increase pharmaceutical companies

competitiveness.

 Artificial Intelligence: Revolution in Drug Discovery

As for artificial intelligence, the COVID-19 pandemic has become to some extent the necessary

evil that has accelerated the speed of technology adoption in the pharmaceutical industry:

according to Global Data report, AI will transform the pharmaceutical industry in the coming

years. The urgent need for COVID-19 vaccine and medications have probably facilitated the

implementation of AI in drug discovery, and has become a tipping point for the adoption of this

technology across the industry.

In one of the recent publications in The Guardian, the contribution of Al into speeding up the

process of drug development, has also been recognized. Pharmaceutical companies used to be

criticized for slow adoption of technological advances. Without applying AI technology drug

$2bn. At the same time, Al reduces the time required to analyze the vast amounts of scientific

data to get a better understanding of disease mechanisms and find potential drug candidates, as

long as it makes it possible to cross-reference piles of published data within seconds. The rapid

progress with COVID-19 vaccine development is also associated with the use of AL. Also, Al

is currently being used to find treatment for infectious diseases as well as for cancer, rheumatoid

arthritis, autoimmune disorders. The technology is expected to at least double the success rate

of drug discovery and save billions of dollars. The world's top drugmakers, including US

companies Pfizer, Johnson & Johnson. France's Sanofi, and the UK's AstraZeneca are now

investing in Al

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However, not only drug discovery is going to benefit from Al implementation. As stated by

Kitty Whitney, MSc, Director of Thematic Research, "The pharmaceutical industry is under

increasing pressure, with rising costs of drug development, manufacturing, and marketing

eroding profit margins. As well as drug discovery. Al can be applied across a wide range of

other functions, allowing for improved clinical trial design and recruitment, smarter and more

efficient supply chains, and targeted sales and marketing"

 Robots in Drug Manufacturing

According to recent Pharmaceutical Robots Market Size Report, there has been a growing need

for automation in pharmaceutical manufacturing units as well as reducing costs for drug

discovery. The introduction of robotics into pharmaceutical production has become the solution

for the problem. This process has also been accelerated by the pandemic, as pharmaceutical

companies had to overcome labor shortages and increase in-house manufacturing through

automation rather than outsourcing.discovery is a slow, costly and not very successful process;

the research and development together with regulatory approval of a new medicine takes about

a decade and costs more than the report also demonstrates numerous benefits of using robotics

in product manufacturing improved production output and product quality, occupying less

space, absence of labor turnover, enhanced safety, reduced production downtime, and better

waste management.

As for the manufacturing process itself, robots reduce error rates and relieve people from

monotonous and time-consuming work, which taken together can improve a plant's

productivity. For example, in the US, owing to a partnership between Clemson University and

Nephron Pharmaceuticals, a syringe-filling robot has been developed with the aim of tackling

drug shortages. As usual, syringe-filling is done by technicians and requires up to five

employees per day. The developed robot can fill, cap, and seal syringes without human

participation.

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As the practice of robotics utilization has proven to be efficient, this trend is likely to continue

after the COVID-19 crisis: the long-term benefits of robots make them a cost-effective

instrument in manufacturing processes.

 Decentralized Clinical Trials

Clinical trials have made the way from site-based traditional trials to recent site-less

decentralized trials (DCTs). The latter require minimum or even no. in-person interactions

between the patient and the investigator, including site personnel. As they are completely site-

less and visit-less, the data is collected remotely by means of connected devices, telemedicine,

or mobile healthcare providers. All the activities from A to Z are done remotely, at patients

homes. Among other benefits, DCTs provide patients with a more streamlined experience,

relieve them from time-consuming in-person visits, and provides opportunities for wider patient

access, eg. rural areas or distant communities. Still, it has certain risks, for example, undetected

adverse effects or mishandling the data collected.

It's easy to guess that COVID-19 pandemic has become a catalyst for wider adoption of

decentralized clinical trials and immediately they've become a strategic priority for many

pharmaceutical organizations. This trend is expected to last long after the COVID-19 crisis ends:

DCTs offer an opportunity to fundamentally change the procedure of clinical research.

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 LEARNING OUTCOMES

 After completing this project I came to know about Pharmaceutical Industry and how it

is operating its functions and what are the major issue and challenges this industry have

been facing.

 And also came to know about what are new technologies and trend are taking place in

this industry and how this technology is helping to make the process easy.

 It is one of the fastest growing industry in India as well as Globally and the way they are

handling their customer, fulfilling their customer's need by delivering them their desired

product is impressive work and the toughest task, still this Industry is handling it very

smoothly.

 For sure there are some problems like delay in service or delivery of wrong product by

mistake, but it will improve with experience and better management.

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 RECOMMENDATIONS

There is still room for the industry to grow. Improving communication between stakeholders

and Indian regulators would help to build a stronger platform for the Indian Pharmaceutical

Industry. Big pharmaceutical companies are no longer providing the service they once did. India

has joined "Global Partnership on Artificial Intelligence" (GPAI) as a founder member which

is a positive attitude by the government to support responsible and human centric development

and AI use. Being a developing country, India has to focus on similar mind situations in the

future too. So the government should create an environment to start healthcare start-up firms so

the patients and companies can co-exist without being a burden on each other.

✓ Strengthen portfolios with more diversification

✓Develop better reward system

✔ More industry collaboration

✔More non industry collaboration

✓ Make the most of big data

✔ Measure the patient experience

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 BIBLIOGRAPHY

 https://medeitynews.com/2012/11/8-things-pharmaceutical-companies-can-do-to-ensure
their-survival

 https://www.europeanpharmaceuticalreview.com/article/153871/six-major-risks-facing
pharmaceutical-manufacturers-in-2021/

 http://pharmabiz.com/ArticleDetails.aspx/aid 141925&sid-9# text Technology%20helps

%20pharmacies%20improve%20their the%20adoption%20of%20pharmacy%20tec

 https://www.epicflow.com/blog/2021-challenges-and-trends-in-pharmaceutical-
industry/

 https://www.researchgate.net/publication/263533962 Research_on_management issues

in the pharmaceutical industry A literature review

 Journal of Pharmaceutical Negative Results, 3741–3745.

https://doi.org/10.47750/pnr.2022.13.S08.464 (Original work published December 24,
2022)

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