Panel Discussion on “Contemporary Challenges in Pharma and Healthcare sector”

 

 

 

 

 

 

Hyderabad, 11 January 2019: IMT Hyderabad, in collaboration with Focus Research Group, organized two panel discussions on the theme “Contemporary Challenges in Pharma and Healthcare sector”, in an attempt to create an ecosystem to facilitate the incubation of knowledge and to help businesses by harnessing such knowledge in students. An address by the Director, Dr. Satish Ailawadi, marked the opening of the event as he spoke about the critical aspects of a Business school. His insights revolved around the role of leadership, diversity, digital marketing and analytics in the industry as they have changed the way businesses are conducted today by influencing decisions.

The first panel discussion included the following esteemed speakers.

1)   Mr. Ram, Sr. GM, L&D Hetero Drugs

2)   Mr. Parasuraman, Global Head, R&D, Dr. Reddy’s Lab

3)   Mr. Mahendra Pratap Singh, Global Head (HR), Napier

4)   Dr. B. Aparna Reddy, Chief People Officer, Therapiva & Laxai Life Sciences

At the onset of the session, Mr. Ram, Sr. GM of Hetero Drugs, gave a brief demonstration of the product offerings of Hetero Drugs. To emphasise on behavioral diversity, he mentioned the initiatives taken by Hetero Drugs that exhibit a policy of inclusion by the company and allowed different groups of people to come together for the benefit of the organization.

The next speaker to take the dais was Mr. Parasuraman, Global Head of Dr. Reddy’s Laboratories. A chartered and cost accountant with a vast experience of over 31 years, he touched upon the growth of diversity and inclusion in the pharmaceutical industry. Diversity brings societal and innovative edge while globalizing an organization. “A diverse leader is the one who can see a problem from different aspects and then accumulate the information for his or her benefit.”

The discussion was followed by Mr. Mahendra Pratap Singh, Global Head (HR), Napier, the third speaker for today’s panel discussion who was applauded by the audiences for his diverse experience in the IT, Telecom and Healthcare industries. As a strategist, he shared the challenges faced by a manager to diversify an organization. He also highlighted certain points of global diversity and its diverse influence on small organizations vis-à-vis that in large organizations.

The final speaker on the panel to present her views on the topic was Dr. B. Aparna Reddy, Chief People Officer, Therapiva & Laxai Life Sciences. Amidst the enthusiastic energy of the audience consisting of budding managers, Ms. Aparna shared her knowledge of difficulties in distinguishing millennials with the baby boomers. She explained the process of grooming that is undertaken to form a perfect workplace environment, capable of transforming lives.

The ensuing panel discussion was based on the theme “New Paradigm in Digital Marketing & Analytics” and included renowned panel speakers.

1)    Mr. Phani Mitra, VP, Analytics & Strategy, Dr. Reddy’s Laboratories

2)    Mr. Rajesh Kr. Singh, Hinduja Tech

3)    Mr. Shankar Prasad, Founder & CEO, Cito Healthcare

4)    Mr. Soham, Global Marketing, GlaxoSmithKline

Mr. Phani Mitra expressed his views on the increased demand for healthcare, which is further influencing the pricing in the industry. He stated India as a large market, still at the bottom of the cup, however with a potential to grow due to secular trends. He encouraged the audience to seize all opportunities for innovation. “Money follows the future”, citing examples of Practo and Call health, the veteran explained how people are using analytics and Artificial Intelligence so that doctors can connect to remote locations.

 Mr. Shankar Prasad, Founder & CEO, Cito Healthcare delivered a lecture on Predictive Analysis and how the digital marketing industry is moving from a tortoise-like posture towards a hare-mode. Greater than a significant 63% is spent on television advertising today, which does not come without its fair share of pros and cons. He remarked that marketers today are looking for the juicy data. The trends that make digital marketing imperative are patients becoming more aware, engaged and the ease of information available for consumers; process efficiency is improving and tailored personalized care.

Mr. Rajesh Kumar from Hinduja Tech discussed how the hands of the industry are bound and is moving to an era of personalization. He also shared the various peculiarities of digital marketing.

Mr. Soham, Global Marketing head at GlaxoSmithKline elaborated on the tremendous benefits of Digital Marketing- Novelty, reach, cost savings, and convenience. While listing out various threats in the pharma and healthcare industry, he explained the reasons behind the futility of digital marketing tools in the industry. He used the master the hook model- trigger, action, reward and investment to justify how the industry can grow. The future of digitization along with technology includes the facility for patients to connect to doctors, store records, and get analysis at the touch of a button.

The session delved into how students would be benefitted with knowledge about Analytics and Digital marketing for application in the corporate world. The industry, love for technology, and focus can make students grow into professionals and help them climb up the career ladder.

The panel discussion concluded with several valuable insights on Leading HR and Digital Marketing & Analytics. The convention was adjourned with an elated round of applause from the audience as all the speakers for the day were presented with a token of appreciation on behalf of IMT Hyderabad.

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