That’s a wrap! CPHI 2024 has come to a close and what a show it has been. This year, I had the pleasure of joining the BDB team at the event – and from insightful discussions to groundbreaking innovations, there was plenty to take in. Here’s my key highlights and the moments that truly caught my attention.
Keep your eyes peeled…
BDB is a consultative global partner for pharmaceutical marketing, with more than 35 years of industry experience. We specialise in crafting transformative and fully integrated B2B communication strategies on a global scale; empowering pharma and human-health brands to achieve more.
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1. AI isn’t a matter of ‘if’ but ‘when’ – so take the leap of faith
Has your business embraced artificial intelligence (AI) yet? As the saying goes, the best time to start was yesterday; the second-best, today – and this holds true for the adoption of AI in pharma. If you don’t adapt you risk getting left behind. This message was clear at CPHI 2024. AI was a major focus at the event and for good reason. It is proving to be a powerful tool with the potential to transform the pharmaceutical industry by accelerating innovation, reducing costs and improving efficiencies across the entire supply chain – from discovery, drug design and clinical trials to production and marketing.
One area where AI is already being utilised more is target discovery. AI algorithms can sift through vast databases of biological information to identify potential targets for drugs, usually proteins or genes linked to a disease. A notable example is Pfizer’s COVID-19 treatment, PAXLOVID. While AI didn’t discover the drug, it helped determine the optimal crystal structure for oral use, rather than traditional intravenous delivery.
During one of the panel discussions, experts also shared key steps for choosing an AI solution if you don’t know where to start. They included: (1) define the problem, (2) ensure compliance with data regulations, (3) build custom tech stacks for a more bespoke solution and (4) partner with established brands with durability in the market.
Take home messages from sessions during the show…
- “AI is the next-gen solution for the pharma industry.”
- “Your company’s growth depends on adopting AI.”
- “Regulators see AI’s benefits – they face the same challenges.”
- “AI’s success depends on the quality of inputted data.”
2. It’s okay to be different
Yet again, CPHI 2024 was a sea of blue hues – with the majority of companies blending in, rather than standing out when it came to booth design and imagery. Many were conveying the same message too – “We’re your trusted partner”, “Together we can make a difference”, “We’re a one-stop shop”, “Patient-centricity comes first” or “We’re a partner of choice”. Sound familiar?
The good news? There’s a big opportunity to break through the noise and make your brand more memorable. Here’s our top tips…
- Be bold with your messaging – make your voice distinct and unforgettable.
- Tell your story – it’s not enough to say you value safety, quality and innovation; all pharmaceutical companies do. Share your journey, the stories that shaped your business, the people behind the brand and what fuels your passion to support patient health.
- Design a stand that gets noticed – think outside the ‘booth’ to catch the eye and capture the attention of the 140,000 visitors to CPHI.
3. The sustainability focus is growing but it’s not always front and centre
Is sustainability a core value for your company? If so, now is the time to showcase it loud and clear. Sustainability is quickly rising up in the agenda at CPHI – as highlighted by numerous deep-dive sessions at the show’s Sustainable Futures theatre. Despite being a hot topic (and increasingly enforced by evolving regulations), sustainability is often missing from company messaging on the floor.
This gap presents an opportunity to set your company apart and build on your brand value. By aligning your messaging with the growing sustainability movement, you can engage in conversations that matter and differentiate yourself in an industry where this focus is growing year on year.
Carmen Soggia, Associate Board Director at BDB says…
“In my opinion, sustainability will only become more important across the pharma industry, which makes it a powerful conversation starter and element of differentiation, so why not integrate it into your brand story?
Highlight your Environmental, Social and Governance (ESG) priorities, which initiatives you’re spearheading to reduce environmental impact or how you are building a more sustainable supply chain.
Brands that tell their sustainability journey authentically rather than shouting about how sustainable they are will introduce an element of transparency and trust in their brand story. Have you changed your product formulation to be more sustainable or launched a cool new internal initiative that nobody else has? Did it actually work? These are the questions today’s partners and customers want answers to.”
4. Trends to watch
Aside from AI and sustainability, several other trends made headlines at CPHI 2024, offering a glimpse into the future of the pharma market. Here’s what one trends session at the show predicted we’ll see a lot more of in years to come:
Digital transformation
Digital pills are leading the charge in pharma’s digital revolution. These high-tech pills, equipped with ingestible sensors, can track patient adherence to medication. This approach could be a gamechanger for conditions like Alzheimer’s Disease, where precise treatment tracking is crucial. However, widespread adoption of digital health solutions depends on patient buy-in, strong investment and demonstrable long-term benefits.
Personalised medicines
Gene therapies and personalised treatments are unlocking new possibilities for the treatment of rare diseases. Advances in small-batch production and 3D printing are enabling the development of highly tailored therapies for niche patient groups. However, the success of these innovations will depend on seamless data sharing. Groundbreaking initiatives like the European Health Data Space (EHDS) aim to facilitate this. It allows citizens to benefit from immediate and simple access to their digital health data when in the EU, regardless of their location. For instance, if a patient seeks healthcare abroad, healthcare professionals will be able, when necessary, to access key information from the patient’s home Member State; improving evidence-based decision making, reducing repetition of tests and examinations and enhancing patient care.
Regulatory flexibility
As innovation accelerates, the need for adaptable, forward-thinking regulatory frameworks becomes more urgent. Regulatory bodies must evolve to support new technologies and methods while ensuring safety and compliance.
5. Growing interest in the intersection of nutra and pharma
The lines between nutrition and pharmaceuticals are increasingly blurring. One session exploring the role of the gut microbiome in health emphasised this. By now, we all know that a healthy gut microbiome is critical for maintaining health. But did you know that the microbiome can impact the effectiveness of drugs? Understanding this is creating exciting possibilities for the development of tailored therapies that leverage dietary components to enhance treatment efficacy.
At the same time, more pharmaceutical businesses are broadening their portfolios with dietary supplements and nutraceuticals because it allows them to innovate with more agility; facilitating quicker and more cost-effective product development. Not only does this enable them to meet consumer demand for preventative health solutions, but also diversifies business opportunities and enhances competitive edge.
It’s time to get noticed
From the rise of AI to the increasing focus on sustainability, there’s no shortage of opportunities for brands to lead and drive change. But standing out in a crowded market takes visibility – and a global communications partner that speaks your language.
Want to achieve more with your marketing? BDB could be the key excipient in your next breakthrough communications strategy. Get in touch to speak to one of our specialists today.
