Please login to the form below

Commercial innovation in biotech organisations

Blue Latitude Health speaks to Salma Jutt Vice President of US Marketing and Head of Commercial Innovation at a biotech specialising in treating weight loss and obesity.

Image: Salma Jutt, Vice President of US Marketing and Head of Commercial Innovation


How do you define a biotech company?

SJ: The definition of a biotech company is becoming broader as the overall life sciences industry evolves and organisations expand and contract. For many individual biotech companies, the construct can change over time – they may start out as a biotech but morph into something resembling a pharma company. This happens because of a need to expand research and development via in-licensing or through mergers and acquisitions. It can also depend on company size and stage from development to commercialisation. 


What skills do you look for when hiring new employees?

SJ: There is a lot of ambiguity and risk when developing and commercialising biotech products. That presence of volatility, uncertainty, complexity and ambiguity (VUCA) requires a certain type of individual who can thrive in a fluid environment, is able to rapidly make decisions, and is comfortable acting without all the information. Individuals need to be able to cope with this environment themselves and have the ability to establish strong leadership for others around them."Patient-centricity is no longer just about patients educating themselves” 


What’s the ideal company culture for fostering innovation?

SJ: The company culture should foster and reward innovative behaviour. It cannot be punitive; people have to be allowed to take business risks and make mistakes. You can’t hire a team of people who want to make things happen, think innovatively and take perceived risks, and then fail to foster a rewarding and innovative environment. Many times, teams have to make decisions and take action without perfect information and data. Using your own experience and gathering input from colleagues is also important.

How is the role of the patient changing?

SJ: Patient-centricity is no longer just about patients educating themselves. It’s about patients living longer and demanding a healthier life and a higher quality of life, for a longer period of time. When a patient wants to access information, they grab their smart phone and look for instant gratification. Now the jump from awareness and consideration to conversion is much tighter, contracting the purchase time frame. We are all patients and consumers and we can grab our phones, make a purchase in minutes and have it delivered to our doorstep.



Download the full article from Blue Latitude Health

3rd April 2018

Share

Tags

Company Details

Blue Latitude Health

+44 203 328 1840

Contact Website

Address:
Blue Latitude Health (UK)
140 Aldersgate Street
London
EC1A 4HY
United Kingdom

Latest content on this profile

Five key trends in precision and personalised healthcare
Here, we deep dive into five of the key trends in precision medicine and personalised healthcare to explore how the healthcare industry is changing and how pharmaceutical and biotech companies can position themselves as leaders at the forefront of these exciting innovations.
Blue Latitude Health
Why aren't doctors using digital therapeutics?
The digital therapeutics market is set to reach almost $1 billion by 2026 as wearables and apps continue to play an important role in enhancing healthcare. However, adoption of these tools by healthcare professionals is comparatively low. Senior User Experience Consultant Stewart Anderson explains why.
Blue Latitude Health
Launch Excellence 2020
In this special pack, we provide a comprehensive outlook of launch excellence. We cover topics ranging from gathering effective insights, to understanding the current landscape, and the importance of pre-launch strategy for improving relationships between the customer and the brand.
Blue Latitude Health
Precision medicine at Blue Latitude Health
At Blue Latitude Health we have identified 90+ insights about commercialising precision medicines. Check out our video to get a run down on three core components of the commercialisation and launch of precision medicines.
Blue Latitude Health
Understanding the evolving CAR-T market
In 2017 the approval of the first CAR-T treatment took the world by storm, transforming the way cancer is treated, but two years later more than 500 CAR-Ts are in development. So how can pharma ensure its product stands out from the crowd?
Blue Latitude Health
How ready are you for launch?
Pharmaceutical launches are becoming more complex and competitive. Our launch excellence diagnostic tool helps you to map how ready you are for launch, while facilitating success in this challenging environment.
Blue Latitude Health