The 10 Most Promising Life Sciences Solutions Companies To Admire in 2022 April2022.pdf
- 1. www.insightssuccess.com VOL-04 | ISSUE-11 | 2022 Going Ahead How Life Science 4.0 is Reshaping the Organiza on erista erista Manny Soman CEO Verista Solutions Life Sciences Companies To Admire in 2022
- 5. he Life Science sector is run on continuous growth Tand innovation principles, and the driving force behind these two forces is the world of medication and medical device life cycle. The secret for any company to thrive in this field is ensuring quality continually and collaboratively, satisfying regulatory compliance, and gauging risk structures are essential. These companies reside in the medical sector and are meticulous while designing and delivering the equipment as it involves the factor of human lives directly. Many revolutionary companies and leaders push their limits daily to force the competition to level up, helping the industry improve its qualities and make a healthy environment for everyone. Organizations are increasingly under pressure to increase productivity and reduce wastage in the Life Sciences field. Patent expiration, new product launches, pricing rivalry from generics, and worries about rising healthcare costs all contribute to a competitive worldwide marketplace for life science enterprises. Modernization, along with digital transformation, is one of today's most pressing concerns. Better data, analysis, and processes are needed to maintain a continual cycle of changes that boost production capacity, increase availability, minimize downtime, improve processes and decision-making, and remove waste. The crux of running a profitable company is reducing waste without affecting the quality and quantity. With new technologies and formulas, stability and meeting production demands are no longer enough. The time for delivery is reducing exponentially, so companies need to react and adapt quickly. Management requires more flexibility in operations, whether driven by market dynamics, company strategy, or short-term goals. A flexible approach is required to respond to changes in production, adopt new technologies, improve delivery precision, and shorten the time to market. Life sciences companies operate under the guidance of specific rules and regulations, some of which are rigorous and compulsory; the regulatory framework changes from time to time, controlled by different national and regional authorities. It's a complicated situation for companies in which patient safety is vital. Quality systems must support good practice guidelines, maintain regulatory compliance, and make regulatory inspections easier. Success in this field requires an integrated and pragmatic risk management strategy that strengthens operations and maximizes resource utilization. Delivering sustainable value-driven products has become the norm for businesses in the field today, ensuring quality results. The space is led by impactful leaders and companies who strive to improve their products and services, ultimately benefitting the patients and industry. This edition covers many great companies that have achieved excellence in the field. “The 10 Most Promising Life Sciences Solutions Companies to Admire in 2022” contains profiles of companies, articles, and a ton of helpful knowledge curated by our in-house editorial team. Make sure you do not miss any of it.
- 7. Essentra Innovative Services, Leading Products, Sustainable Goals dnaPower inc Helping People Make Better, Data-Driven Health Decisions 24 16 Articles 20 Going Ahead How Life Science 4.0 is Reshaping the Organization
- 8. [email protected] April, 2022 Editor-in-Chief Senior Sales Manager Business Development Manager Marketing Manager Technical Head Technical Specialist Digital Marketing Manager Research Analyst Database Management Technology Consultant Pooja M Bansal Managing Editor Jenny Fernandes Executive Editor Raunak Mhetre Assistant Editors Visualizer David King Art & Design Director Associate Designer Kshitij S Peter Collins John Matthew Sales Executives David, Martin Business Development Executives Steve, Joe, Saurabh Jacob Smile Amar Sawant Marry D'Souza SME-SMO Executive Atul Dhoran Frank Adams Circulation Manager Robert Brown Stella Andrew David Stokes Shyam Sonawane Copyright © 2022 Insights Success, All rights reserved. The content and images used in this magazine should not be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission from Insights Success. Reprint rights remain solely with Insights Success. Follow us on : www.facebook.com/insightssuccess/ www.twitter.com/insightssuccess We are also available on : Anish Miller Sonia Raizada
- 9. Brief Company Name dnaPower Inc. has been providing personalized DNA testing for health and wellness since 2008. We help people make better, data-driven decisions about their health. Featured Person dnaPower dnapower.com Lois Nahirney President & CEO Essentra Packaging is a global manufacturer and distributor of vital component parts for hundreds of markets and thousands of products. The company believes that smallest components have a big part to play. Essentra Packaging essentra.com Marga Romo Head of Marketing The company provides software and services to organisations operating within highly regulated industries such as aviation, financial services, life science, healthcare and manufacturing. Ideagen Plc ideagen.com David Hornsby CEO In a world fraught with tight deadlines and challenging regulations, the company's services ensure that it solves consumers' most pressing needs and set them up for future success. MethodSense methodsense.com Russ King President Dreamport does 3d modeling, animation, building modeling, architectural modeling, interior, exterior modeling to keep your satisfaction at the highest level and work has adopted the principle of doing it with full quality, full confidence. Ocean Data Systems dreamport.net Rick Pierro President Orbytel Group is a solutions company (data, software, & services) that serves the biopharmaceutical industry. Orbytle Group orbytelgroup.com Murt Abuwala CEO OSNEXUS helps organizations manage and scale their storage environments with greater efficiency, flexibility, and performance with its industry-leading QuantaStor™ Software Defined Storage (SDS) platform. OSNEXUS Corporation osnexus.com Steven Umbehocker Founder and CEO We’re actively engaged in licensing, partnering, developing and marketing late-stage specialty prescription medicines. It also launches exciting new OTC and BTC brands every year. PENDOPHARM pendopharm.com Dr. David Goodman CEO The company partners to explore global markets, build strategic brand plans, and grow agile brands of the future Simpson Healthcare simpsonhealthcare.com Kelly Simpson CEO Verista is a life sciences business, technology and compliance solutions company that helps clients solve critical and complex challenges throughout the product lifecycle – from research to manufacturing to post-market support. Verista verista.com Manny Soman CEO
- 10. Verista Verista
- 11. Manny Soman CEO Verista The 10 Most Promising Life Sciences Solu ons Companies to Admire in 2022
- 12. he Life Sciences industry is engaged in one of the Tmost challenging and complex business environments that requires people with a high degree of domain expertise and a comprehensive understanding of the intricacies of the product lifecycle. These organizations are responsible for ensuring the safety and efficacy of their products, and ultimately, peoples’ lives. As such, they need to make certain that their assets are properly commissioned, qualified, and validated efficiently and correctly while meeting the challenges of industry regulations, aggressive timelines, and budget constraints. From research and development to regulatory approval and beyond, Verista helps clients design, deliver, operate and maintain quality-critical GxP related operations so clients can focus on developing new therapies and bringing them to market faster and more efficiently. Although the firm relies heavily on process and technology, it's still all about their people. Verista is dedicated to ensuring quality results, reducing client risk, satisfying regulatory requirements, and improving peoples’ lives. Solutions That Achieve Operational Excellence Verista started over 20 years ago as a niche organization providing engineering and automation solutions to the manufacturing environment. Since then, the company expanded its business to meet their clients' growing needs across the entire product lifecycle, to include quality and compliance along with consulting capabilities. Today, clients seek Verista to be their trusted advisor, helping them solve some of their most complex business challenges. The organization recognizes that there's no one size fits all approach to improving operational performance, reducing organizational risk, and increasing overall productivity. For mission-critical projects, they support clients with proof-of-concept through to operational delivery and integration services. An Employee-Centric Culture For Verista, their colleagues are their greatest assets. Their deep domain expertise means they are uniquely qualified to
- 13. deliver trusted and quality results at strategic and tactical levels in every stage of the product continuum. The company invests heavily in its colleagues development, and believes its employee-centric culture is what allows them to offer unique value to their clients. This includes internal training and career development programs through Verista University, tuition reimbursement, industry certification reimbursement, and advanced training via their technology. While most competitors look for lower cost resources and run as staff augmentation firms, Verista understands that the stronger it builds its colleagues, the stronger relationships it can build with its clients. Their delivery teams excel at providing client solutions and value - consistently with trust, integrity, and transparency. Ensuring Safety with Compliance, Validation and Data Integrity Verista is a world-class provider of business, technology, and compliance solutions that span the entire drug development lifecycle, from R&D to clinical, commercial, and manufacturing. With clients small and large, many of which have multiple divisions and geographic locations, the company’s mission is to enable life sciences clients to improve lives. They do this by accelerating their client’s ability to bring safe, quality and compliant products to the market faster. Solutions to bring Safe, Quality, and Compliant Products to the Market Faster To help solve its clients' critical and complex challenges, Verista's experts specialize in 3 core areas: 1. Quality and Compliance 2. Manufacturing Solutions 3. Life Science Consulting At its core, Verista helps facilitate that every therapy its clients develop, commercialize and ship for patients is compliant, safe, and of consistent quality. The company does so by helping them bridge the chasm between their IT, systems, technology, operations, and business functions – delivering integrated and compliant solutions across the spectrum. It delivers the expertise and solutions that bring it all together from individual devices to capital equipment to site and enterprise-wide systems. Rich Tabarrini President Verista
- 14. Pandemic Effect on Business The pandemic has changed our minds and reality. What used to take 10 years to bring a molecule from R&D to manufacturing can now take months. The concepts of what we’ve traditionally thought of as product velocity and speed-to-market are being shattered. To meet these new demands, organizations must alter their business, operational and staffing models when it comes to their quality and compliance programs. The new norm is expedited turnaround time to deliver quality, safe, effective, and compliant products. No doubt the pandemic has been a strain on everyone, especially with recruiting and training resources to support the manufacturing expansions required for the rollout of COVID-19 vaccines and antiviral medications. Our colleagues, along with our clients, have been working longer shifts and take a lot of pride in knowing they are part of the solution for improving lives. From a product speed to market perspective, automation and digitization are transforming out clients operations. Everything that can be done on paper is now being digitized and standardized across sites and the world. Because of this,Verista advises clients to select the right technologies for the right applications and then develop, build, and implement them across their operations. Specializing in compliance and validation services means the organization is helping life science companies achieve their goals to launch safe and effective products faster. The Future of the Life Sciences Market: Speed The main issue facing pharma and devices companies is: How can products be produced faster and to regulatory standards without compromising quality, safety, and efficacy? Even before the pandemic, organizations struggled with speed-to-market from R&D to manufacturing. The key to the puzzle is a well-governed, transparent, and collaborative model that supports dynamic and effective decision-making. Verista can help manage, automate, and validate individual and enterprise-wide data systems, lab systems, equipment and manufacturing operations to ensure organizations comply with regulations while facilitating faster and smarter operations. To achieve this, Verista is spearheading the push toward digital transformation. Legacy processes and systems are being replaced with streamlined digital solutions that enable
- 15. data to get from R&D and the manufacturing shop floor to decision-makers in record time. For example, Verista helped a top 5 pharma client implement Veeva Vault as their regulatory information management system (RIMS), resulting in a faster time to IND submission. They can now complete their fully compliant dossiers faster by evaluating and streamlining their processes, meaning their molecules get to market faster. Serving Communities to Enrich the Ecosystem Core to their values, Verista’s employees give back to the communities they serve whenever possible. Employees are given time off as part of their benefits for volunteer activities. Verista has close ties with Life Sciences Cares in Boston and Philadelphia to support its programs, such as donating and packing lunches for inner-city children, volunteering at homeless shelters, and supporting other educational programs for children. Sharing the thoughts of Manny Soman, CEO, "Volunteering is one of the ways in which we can give something back to our local communities and respond to their needs. We have to remember that success is not only defined by our business achievements, but also how well we serve our communities and enrich our ecosystem." Growth Strategy Ahead Verista's growth strategy is primarily driven by listening to clients' needs, keeping abreast of regulatory changes, and staying a step ahead of industry trends. This includes expanding its geographical reach, developing strategic partnerships with technology providers, and an M&A strategy that extends its core capabilities for its clients. The Souvenirs "Verista is a very uniquely designed service provider. Apart from what you need as a client, they have excelled in the art of engagement at a more personable level, which makes a client's experience more effective and seamless. This is a rare find." – Director of Quality Information Management Systems, Top 50 Pharma "Verista won in our bidding process because it was able to offer strong technical capabilities in a short timeline. It has a great specialist expertise that could serve exactly when we needed." – Vice President, Biometrics, Top 30 Pharma "I've worked with a number of Verista engineers over the years on both long-term sustainment projects as well as short-term capital projects. One thing that's consistent is Verista's ability to provide resources that understood the specific problems I had and do whatever is needed to resolve them. They're at the top of my list to call when I need something done right the first time." – Engineering Manager, Top 50 Pharma. Get in touch with Verista at www.verista.com.
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- 19. The 10 Most Promising Pharma and Life Science Companies to Admire in 2022 April 2022 | 17 | www.insightssuccess.com
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- 23. How Life Science 4.0is Reshaping the Organization G rowing awareness from the mere treatment of diseases to their prevention with wearables and sensors are shifting patient care from hospitals to homes. That is where Telemedicine and life science are making it possible to deliver a personalized healthcare experience to your home. Today we realize the potential of life sciences and how it explores the evolving ecosystem to create new opportunities. With the shift in business models, the core expectations of each business are also shifting. Keeping these expectations in mind, companies need to equip themselves with the right capabilities that can be adapted across the ecosystem. Therefore, companies must create a digital strategy that aligns with their short-term and long-term business goals and accounts for current talent capabilities and culture. Although the strategies employed at each company may differ, here are some key steps to successfully begin your transformation. Good governance means companies and leaders set the right example from the top-down, and everyone knows whom to question for what and why. The organizational culture should be focused on integrity with appropriate guidance and training. And to remain relevant, companies must begin to create products that future patient consumers and providers demand while still meeting current needs. Trust in your Fears Delivering this will need organizations to work outside the comfort zones of their traditional business models. It will require companies to connect and analyze care in real-time via agile, data-driven supply chains, better interventions, and care management. As the life science ecosystem becomes connected, advances in diagnostics, genomics, AI, and other emergent technologies will reinforce each other, driving an exponential acceleration towards personalized care. Life science evolves towards a more dynamic ecosystem sharing, and life science should identify the business model that represents the best vehicle for them to deliver future value. It has traditionally generated value by creating innovative devices. Its future success depends not just on the cutting-edge technologies but on its ability to connect to a wider ecosystem. Increasingly, it will no longer be the question of creating innovative devices but demonstrating how their use can drive better outcomes. The technical challenge: Lack of interoperability between the data-management systems used across life sciences means that data are locked in siloes. Without a shared digital infrastructure, there is no mechanism to allow data to flow seamlessly. Some life science innovators are already planning for a highly connected, data-driven future. On a broader scale, the technical and logistical demands of building a “digital backbone” can be accepted and used by all companies that may demand expertise that lies outside the industry's capabilities. Conclusion Nevertheless, life sciences can address these issues by working closely to understand their real customers' needs and deliver value to those customers. The opportunity is on the companies to take the first steps toward constructing the connected ecosystem, and the potential rewards are significant for the companies that seize this opportunity. And to all these companies need to take risks; it will only with risks that we can create something better for the ecosystem. Going Ahead April 2022 | 21 | www.insightssuccess.com
- 26. Have you searched for packaging solutions and companies that are experts at their job and implement innovative services while providing sustainable products? If your answer is yes, your search ends at Essentra Packaging, where seasoned experts keep track of consumer trends, packaging designs and smart technologies, to produce one of the finest packaging product ranges in the world. Essentra delivers an innovative offering of cartons, leaflets and labels that help to reduce supply chain complexity and enables a seamless end-to-end service. Essentra has strong experience in enhancing standard packaging qualities, backed by industry-beating performances. To learn more about the business, we sat down with Marga Romo, Head of Marketing Packaging Division at Essentra Packaging. History of Manufacturing Excellence Essentra Packaging has a long history of design and manufacturing excellence, with roots that can be traced to the beginning past century. From the very beginning, the business has sought to become the go-to name for exceptional packaging design in all its formats across the pharmaceutical, health, and beauty sectors. In short, the company supports its customers in their business goals and their packing line processes. From its inception, the business has continued moving from strength to strength, serving medium to large pharmaceutical businesses, brand customers, and contract manufacturing organizations (CMOs) across different subsegments worldwide. At the center of everything is Essentra's purpose, to responsibly provide the products and services its customers need to succeed. It aims to change the world by making a helpful difference through industrially viable innovative solutions. Marga explains: "Our long-term growth is powered by innovation and sustainability, so we put such a strong focus on these elements. We live our purpose, stay true to values, and deliver the goals we believe we are building for the future. Building a better, brighter future for us all." Essentra Packaging aims to affect positive change in the market by uplifting the standard of packaging quality and performance and pushing the boundaries of what standard Our expertise and support for packaging design, from the project beginning to completion, adds high value for our customers. Innovative Services, Leading Products, Sustainable Goals April 2022 | 24 | www.insightssuccess.com
- 27. Marga Romo Head of Marketing Essentra Packaging The 10 Most Promising Pharma and Life Sciences Services Companies to Admire in 2022
- 28. optimize and minimize production waste, contributing to its ambitious sustainability program as it seeks to be an ever more environmentally aware business and support the sustainability agendas of its customers. Demonstrating its commitment to the pharmaceutical, health, and beauty markets, Essentra Packaging also provides pre-serialization solutions with drop-on-demand and digital technologies as well as serialization solutions, such as clear code, alongside bespoke solutions for clinical trial packs, label solutions including tamper-evident labeling and sustainable board-based cartons. Pharmaceutical customers need to be flexible and dynamic to stay ahead of fast-paced markets, particularly in today's commercial environment of volatile demand. It encourages Essentra Packaging to respond to customer challenges with agility, achieved through its innovative products and services. In addition, Essentra Packaging puts significant developmental focus on safety and patient engagement solutions to help pharmaceutical companies stay ahead of market needs, including ACF features, tamper-evident labels and cartons, time-temperature indicator labels currently in development, and booklets for the clinical trials segment. Adding Value to Health Essentra Packaging remains one of the most agile businesses by developing packaging solutions through the lens of the consumer and patient, ensuring every project meets the needs of both the customer and end-user. This approach helps to drive real commercial value and helps to turn packaging from a necessity into a true commercial edge. What makes a difference for Essentra Packaging customers is that it continues to monitor what's happening not just in the packaging sector but also in customer markets. This includes consumer trends, regulatory and legislative changes, and more. By staying ahead of its customers' markets, the company is creating a strong innovation pipeline for its next print and packaging technologies generation. Marga states, "Across our production sites globally, Essentra Packaging is proud to invest in innovative technologies, which remain critical to the business's materials can achieve. The heart of Essentra Packaging is collaboration, ensuring that every single packaging project meets the needs of consumers and patients today, tomorrow, and beyond. Technological Edge with Pharmaceutical Care Essentra Packaging has a diverse portfolio of packaging solutions in its enviable range. However, it is perhaps best known for its high-quality cartons, leaflets, and labels for the health, pharmaceutical, and beauty sectors. A tightly curated range of innovative products and services helps Essentra Packaging to make its customers' lives easier by unlocking greater efficiency and, as a result, freeing customer teams up to focus on their core business. Marga comments, "We uniquely operate several print technologies – digital, offset, and flexo – optimizing resources in shorter print runs and maintaining high productivity in larger batches, enabling the company to stay responsive to shifting market needs." Combining technologies enables Essentra Packaging to April 2022 | 26 | www.insightssuccess.com
- 29. ongoing success. A great example is the company's recent investment in a Landa S10 nano graphic press at our Bradford, UK, production site. The installation marks the first of its kind in the country. It combines the speed and agility of digital print with the long-run precision and repeatability of traditional offset printing. The technology uses high-resolution ink ejectors to deliver a remarkable 1200dpi resolution, marking a significant new avenue of exploration in secondary packaging. Essentra Packaging prides itself on being an industry pioneer in technologies that add value to the health, pharmaceutical, and beauty markets, which is evident through its investment track record. Focus on Ethical Business Essentra Packaging places a strong focus on sustainability, aiming to positively impact the global environment through both its business practices and product range. The business believes in taking a '360-degree approach to sustainability', which means increasing its own team's awareness of environmental issues, investing in sustainable technology and product design, and using its expertise as a packaging leader to communicate this to the wider market effectively. Essentra Packaging believes that Corporate Social Responsibility (CSR) should be more than skin deep or marketing jargon – the business is committed to being a force for good in the market and aims to demonstrate this at every turn. One of the ways that Essentra Packaging demonstrates its commitment to sustainability is its Zero Waste to Landfill (ZWTL) initiative. This initiative is the operational philosophy of reducing the amount of waste that ends up in landfill and is found in many business sectors. ZWTL is particularly important in the packaging and print industry, where waste can be a significant problem. The business is committed to reaching ZWTL across all its production sites by 2030, and independent third-party auditing reveals that around half of its facilities have now reached this goal. In addition, Essentra Packaging puts a strong focus on health and safety across its sites and throught its workforce. Putting HSE high on the agenda helps to keep its teams safe in all conditions, whether in busy manufacturing facilities or even working from home. The Essentra Packaging business has an extremely solid foothold in the market, an experienced team and future- proof design philosophy. The business has maintained a strong investment program in technology and digitalization, which prepares Essentra Packaging for the future direction of its core markets. Essentra Packaging welcomes conversation with any business in the pharmaceutical, health, and beauty market that is looking to improve their packing process and design sustainable packaging with the safety and security of patients and consumers at the heart. April 2022 | 27 | www.insightssuccess.com