Impressions of DCAT Week 2015
The Drug, Chemical & Associated Technologies Association (DCAT) Week took place in New York City the week of March 16, and again proved that this gathering is a terrific networking event for the pharmaceutical industry and its partners. Celebrating its 125th Anniversary, the association demonstrated its continued relevance and leadership in our business sector. DCAT Week always provides a unique opportunity for companies like West to engage in high-level, strategic meetings with our key customers and other business partners.
One of the hallmarks of DCAT Week is the Educational Programming. Attendees were given the opportunity to join a variety of sessions on topics pertaining to the state of our industry as well as its future. A highlight of the week (as always!) was the PharmaChem Outlook session, with a deep dive from IMS Health’s Vice President of Global Pharma Strategy, Graham Lewis, on the global pharmaceutical market and key trends.
- The rise of specialty drugs is predicted to continue, with an emphasis on biologics and biosimilars.
- “Pharmerging” markets are expected to represent 50% of volume by 2015.
- Innovation is critical to success, and companies are embracing new strategies to succeed.
- Patient compliance is more critical than ever, as populations age and chronic diseases grow.
- Mobile solutions and “connected health” innovations can play a key role in reducing costs as well as improving patient outcomes.
Attendees were also able to hear from industry and regulatory experts on other topics such as the FDA’s Quality Metrics initiative and new approaches under the recently formed Office of Pharmaceutical Quality. Of particular interest to suppliers, such as West, was the session regarding “Value Creation through Strategic and Collaborative Sourcing,” which included insights and case studies from key pharmaceutical companies such as Roche, GSK, Lilly and Amgen regarding best practices to co-create value in the supply chain with key supplier partners.
In addition to DCAT Week, the Association has several events throughout the year. To learn more, visit www.dcat.org.