Wearable technology might revolutionize civilization by streamlining, speeding up, and simplifying tasks. Patients, doctors, payers, and pharmaceutical corporations benefit from this revolutionary technology. shares Entod Pharmaceuticals CEO Nikkhil K Masurkar talks to Elets News Network’s Kaanchi Chawla (ENN). Edited excerpts:
How will wearables and mobile health applications affect the pharmaceutical sector in the future years?
Wearables can revolutionize civilization by making tasks quicker, easier, and more efficient. These emerging technologies promise significant tools for patients, clinicians, payers, and pharmaceutical businesses. Wearable pharma technology will soon automatically use data to provide real-time input to doctors, market researchers, and medication makers. As more people use mobile health apps, pharmaceutical corporations may soon have access to massive quantities of data that might change the business. Pharmaceutical businesses may use their knowledge and approach different health sectors.
What novel technology is Entod Pharmaceuticals utilizing or planning to use to improve medication development and patient outcomes?
We use or will use various novel technologies to enhance medication development and patient outcomes. AI and ML are used to analyze clinical trial data, electronic health records, and genetic data to find new therapeutic targets, predict medication efficacy and toxicity, and optimize clinical trial design. AI and ML can personalize medication safety and treatment regimens. Blockchain technology is also being used. Blockchain can safeguard and trace pharmaceuticals supply networks from manufacture to distribution. Drug counterfeiting can be prevented with this technique.
Finally, what is the largest difficulty confronting the pharmaceutical business today, and how is Entod Pharmaceuticals tackling it?
The pharmaceutical industry struggles to keep medicine costs low while investing in research and development due to the high cost of drug development. We’re working on this. New technologies like AI and ML can speed up drug discovery and cut clinical trial time and expense. Share data, resources, and knowledge with academic institutions, other pharmaceutical businesses, and government organizations. This reduces redundancy and speeds medication development. By creating medications for rare and neglected diseases, which can obtain regulatory incentives, and expanding into new therapeutic areas, we are diversifying our product portfolios. Lastly, we are discussing medicine pricing and access with lawmakers, patient organizations, and other stakeholders. This involves promoting affordable healthcare legislation and public-private collaborations to establish novel funding solutions.