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News & Trends - Pharmaceuticals

Lilly President & GM urges bold vision of innovation readiness: Reimagining Healthcare Senior Leadership Series

Health Industry Hub | June 13, 2024 |

Pharma News: In a thought-provoking podcast for the Reimagining Healthcare senior leadership series, Tori Brown, President of North Asia-Pacific and General Manager of ANZ at Eli Lilly delved into what innovation readiness could look like over the next 10-15 years to fully unlock the value of emerging health technologies.

“For me, innovation readiness is that by the time a product or technology hits the market, the market and patients are available to use it right away. As industry, we really need to think about the big picture of what could be…,” she emphasised.

Brown highlighted key findings from a recent Productivity Commission report, emphasising that the increased spending on healthcare has been “worth it”.

Addressing the latest data from the Department of Health on the slower pace of Pharmaceutical Benefits Scheme (PBS) listings, despite ongoing reforms, Brown discussed how governments and regulatory bodies need to evolve.

Australia ranks second after the US in consumer concerns about the politicisation of science and doubts about governmental competence in regulating emerging innovations, as revealed by the 2024 Edelman Trust Barometer. Brown discussed the potential barriers and the opportunity for the pharma industry to shape the conversation.

Brown pointed to forward-looking countries that are pushing the boundaries of innovation readiness, citing examples where proactive policies are driving progress.

In the short term, she indicated the key actions that are essential to lead us towards a reimagined future of innovation readiness.

“As individuals and as companies, we need to be reimagining what can happen in the healthcare spaces that we invest. And we can’t expect politicians, doctors or anybody else to do it for us.

“Take some time and reflect what it means for your products, industry, and disease state…and then start talking about it. Let’s work collectively to make sure that we’re driving a better future and outcomes for people across Australia,” Brown stated.

In reimagining healthcare across the entire patient journey, Health Industry HubTM is the ONLY one-stop-hub bringing the diversity of Pharma, MedTech, Diagnostics & Biotech sectors together to inspire meaningful change.

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