Welcome to the Fall Semester! AAPS student chapter is back with all new exciting networking events. The first speaker for our Guest speaker series was Dr. Andy Vick who is serving as the Vice President of Analytical Services at WIL Research. He was here on September 17th 2015, to share his insights on ‘Emerging trends in pharmaceuticals and bio pharmaceuticals’.
Andy started his journey as the Principal scientist at Biogen and Elililly. He then served as the Director and Vice President at Millipore and Seventh Wave Laboratories. Currently being the Vice President at WIL Research he is involved in various tasks involving scientific, operational, and financial performance of Analytical Chemistry, Formulation Science, Bioanalytical Chemistry, Immunoassay, and ADME/DMPK. He is also contributing towards the progress of AAPS and International Federation of Pharmaceutical Scientists (FIP) by being the part of team of Directors.
Possessing a versatile persona, Andy had shared his views which reflected a combination of his sophisticated scientific knowledge, his keen business insights, and great soft people skills.
What he had to say..?
The agenda of his talk was to focus on the changing scenario of the Pharmaceutical Industry and how we as scientists can benefit by preparing ourselves for the future. Research is no longer about Pharmaceutical company or R&Ds but it also involves starts ups, CROs and academic labs. Forecasters predict that the market for prescription drug sales will grow by 5.1% per year to reach 1T$ by 2020. 2015 seems a promising year with a predicted growth of 5.4%. Talking about the trends in Pharmaceutical market, most of the profits from the industry will come from oncology, biologic drugs and most probably therapeutic vaccines. He reiterated the fact of sustainable trend with a prompt example of Roche Pharma which will continue to be the largest player in the oncology market with >25B in sales; accounting for over 1/3 of the market. They are expected to top the charts entirely through 2020. Speaking of the market trends, he emphasized on the observing that the US sales for the NME’s has been on the rise in recent years, 2013 being the bumper year.
Since 2013 on an average 30-40 NME’s are being approved every year.He drew our attention towards the fact that we should not only acknowledge the profit of big companies but also that of relatively smaller companies. For instance, Gilead sciences showed more than double increase in profit in last 1-2 years.This leaves the emerging Pharma Industry highly competitive and profitable as global demand for new and improved medicines increases. Hence job opportunities will remain ever-growing and intense.
More than just technical skills he stated the importance of having an attitude full of compassion, empathy and cordiality. Leadership, teamwork and networking are the necessary attributes, a good scientist should always possess. Speaking of performing well at a job interview he quoted that ‘You have only one chance to make the first impression’. The Employer’s goal is to determine in that limited time if we are capable of performing well for the aspiring position. For that he will look for a candidature of high competence, great enthusiasm with a positive mindset and personality.
Take home message.
The opportunities in Pharmaceutical field will always rise with time, but considering the above viewpoints of market trends and employ ability we the scientists will have a better edge over others.