How developments in the pharmaceutical sector are impacting logistics
There are currently major seismic shifts happening in the pharmaceutical sector that are disrupting the status quo. Some of the most notable changes are the rise in biosimilars, the downward pressure on pricing, increased global spending and advances in technology, all of which are impacting the logistics sector and affecting how those companies operate. Here, Brent Stansfield discusses these factors and suggests how companies can adapt.
The rise in biosimilars
The pharmaceutical sector has seen exponential growth in biosimilars and there are numerous indications that this level of growth will continue. Mckinsey & Company estimates that sales of biosimilars will triple to $15 billion by the year 2020. Despite biosimilars providing substantial benefits to the healthcare sector by offering biological products at more accessible prices, they are creating significant challenges in cold-chain logistics.
Biosimilars are extremely temperature and time sensitive and thus require consistent monitoring throughout the supply chain to maintain integrity. Their temperature sensitivity requires them to be stored within a specific temperature threshold throughout the entire journey, most commonly ranging between 2-8°C. Furthermore, biosimilars have a very short label claim, so every delivery must be extremely time efficient.