High Costs, Low Margins, and Regulatory Hurdles Hinder Pharma’s Adoption of Advanced Manufacturing Technologies

Benchmark Banner Ad

 

The ongoing drug shortage crisis in the U.S. underscores a critical need for innovation in pharmaceutical manufacturing. As manufacturing issues, outdated technologies, and geopolitical risks contribute to shortages that impact patient care and elevate healthcare costs, the introduction of Advanced Manufacturing Technologies (AMTs) offers a beacon of hope. AMT technologies promise to enhance quality control and reduce production downtime, yet their adoption in generic drug production remains low despite obvious benefits.

Why is the pharmaceutical industry slow to adopt technologies that could revolutionize drug availability and cost?

Mike Tracy, a C-Level Healthcare Operations Strategist, dives into the complexities of integrating Advanced Manufacturing Technologies in drug production. Mike points out that while AMTs can drastically reduce bottlenecks in drug production, the significant initial investment and stringent regulatory landscape pose substantial hurdles.

“Every AMT has a high startup cost and generic drugs have very razor-thin margins to begin with. We’re not talking about a new drug that’s not already out in the market where you’re going to have a high margin and it makes sense to invest millions,” Tracy explains.

Article written by Sonia Gossai

Follow us on social media for the latest updates in B2B!

Image

Latest

rentex washington
Harmony in Action: The Rentex Washington D.C. Team
June 18, 2024

Step into the world of Rentex Washington D.C., where the team thrives on collaboration and excellence. Each member plays a vital role, contributing their unique skills to ensure top-tier customer service and seamless operations. Their collective dedication to quality and innovation sets them apart in the AV rental industry. Celebrate the dynamic and cohesive efforts…

Read More
embracing variety
Embracing Variety: Watu Murray’s Dynamic Role at Rentex
June 18, 2024

Meet Watu Murray, the Warehouse Manager at Rentex Washington D.C. Watu thrives on the variety, new experiences, and challenges that each day brings in the workplace. A devoted family man, he cherishes spending time with his son. Outside of work, Watu enjoys producing music and video projects, bringing creativity and passion to everything he does.

Read More
orchestrating excellence
Orchestrating Excellence: The Symphony of Teamwork
June 18, 2024

Meet Michael Stathis, General Manager at Rentex, Washington D.C. Michael values collaboration, comparing the team’s work to an orchestra symphony where every instrument is essential for success. He is dedicated to providing exceptional customer service, ensuring every project hits the right note. Michael’s enthusiasm for motorsports reflects his drive and precision in leading the team.

Read More
spotlight on quality
Spotlight on Quality: Teamwork Makes the Dream Work
June 18, 2024

Meet Jon Moody, the Quality Control Manager at Rentex Washington D.C. Jon is driven by the dedication of a hardworking team, who genuinely care about providing customers with exceptional service. Their collaborative efforts ensure every project’s success by truly supporting customer needs. Celebrate Jon’s commitment to quality and the positive impact of teamwork and dedication.

Read More