The way life science companies gather insight is changing. In PharmExec, Within3 CEO Lance Hill sits down for a Q&A to discuss the insight gap, the challenges of selecting key opinion leaders (KOLs), how insight blind spots ripple across the product development process, and the challenge of increasing diversity and inclusion in pharma.
“For life science companies, an insight is a key market signal that allows them to better understand their disease community – including the health care professionals and the patients they serve. Insights can be gained from a wide range of sources, whether it be a payer, patient, or healthcare professional,” says Hill. “Without insights, and more importantly, the wider context around those insights, pharma companies are flying blind with their business strategy.
Hill describes how COVID-19 placed increased pressure on drug development and clinical trial execution in two ways: by creating an urgent need for new medicines and pausing or slowing down other research. “Against the backdrop of historic difficulty in taking drugs to market in a complex post-COVID landscape, life science organizations need the right insights to make the right decisions.”