Indian Pharma's Evolution with Data and AI

EY Parthenon (EY-P), a premier strategy consulting firm, joined hands with BioAsia to unveil a groundbreaking report entitled "From volume to value: Indian pharma’s transformation with data and AI". This report heralds the profound impact of Gen AI on revolutionising drug discovery, R&D, and pharmaceutical operations. Signifying a pivotal shift in India's pharmaceutical landscape, the report underscores the convergence of data and Artificial Intelligence (AI) as a catalyst for unprecedented advancements. By embracing these transformative technologies, India is poised to lead global pharmaceutical innovation, fostering a resilient ecosystem for industry growth. Suresh Subramanian, Partner & National Life Sciences Leader at EY Parthenon India, emphasised the seismic impact of Gen AI, citing projections that it will contribute $4-5 billion to the Gross Value Added (GVA) of the Indian pharma sector by 2030. Gen AI's transformative potential extends beyond patient care, impacting various facets of healthcare such as R&D, manufacturing, and supply chain management. However, amidst these gains, ensuring robust data governance and regulatory compliance remains paramount. Shakthi Nagappan, Director of Life Sciences, Government of Telangana, and CEO of BioAsia, lauded the transformative era of Data and AI in healthcare. This technological fusion is revolutionising drug discovery, clinical trials, precision medicine, and healthcare delivery mechanisms. The report outlines key imperatives for Indian pharma's transformation with data and Gen AI, including leveraging AI in drug discovery, shifting to value-centric R&D, building resilient supply chains, and embracing digital upgrades in manufacturing, quality, and compliance. By harnessing Gen AI's capabilities in reshaping R&D through Machine Learning (ML) and Natural Language Processing (NLP), Indian companies are accelerating drug development for various diseases, including cancer, Alzheimer’s, and rare diseases. Furthermore, Gen AI offers opportunities for early-stage development cost savings, target identification, pharmacology analysis, and safety monitoring, positioning India as a frontrunner in pharmaceutical innovation. To bolster India's pharmaceutical sector by 2030, the report emphasises the need for large-scale plant setups, reduced human intervention, and embracing Industry 4.0 technologies to ensure high-quality standards and manufacturing efficiency. In conclusion, the report paints a picture of a transformative future where data and AI converge to unlock unprecedented possibilities, positioning India at the forefront of global pharmaceutical advancements.