Jessica Federer, advisor at Hugo Health and one of the speakers at the upcoming FT US Pharma and Biotech Summit, discusses some of the key trends shaping the US pharma market, her predictions for the next year, and recent developments for women in pharma.
What are the key factors and trends shaping the pharmaceutical sector in the US?
In the US, the trends are largely driven by a combination of policy developments and technological advancements. Recently, we have witnessed some profound policy developments that move us closer towards the holy grail of a learning healthcare system.
If you look at the Framework for FDA’s Real World Evidence Program (12/2018), the Notice of Proposed Rulemaking to Improve the Interoperability of Health Data (02/2019), and the Centers for Medicare and Medicaid Services Interoperability and Patient Access Proposed Rule (02/2019), and then combine those changes with new tech and advanced analytics, the implications are significant. It’s like moving from a polaroid picture to a live 360º video.
What are your predictions for the industry for the next 10-12 months?
My predictions are positive. The pharma industry will be able to use real world data in near real-time to get their therapies to more people, seeking label expansions or new indications without the time and cost of traditional clinical trials. And for the first time, because people have autonomy over their health data, they can become true partners in research in care.
The era of talking about people as research subjects is over. People should be partners, driving progress in both research and care. After decades of talking about the promise of electronic health records and struggling with lack of interoperability and standards, we might finally be on the cusp of seeing them deliver real, meaningful benefit to individuals across the country.
On International Women’s Day, what developments are you seeing for women?
We know that women drive the majority of health care spending and health care decisions for their families. We should be doing a better job of supporting and representing these women that are caring for their parents, children, and grandchildren. But I am seeing some positive trends.
First, there are more women in leadership in pharma. We still have a long way to go to achieve gender balance, but progress is being made.
Second, we are experiencing an explosion in awareness of women’s health. I celebrate that we had both a Bollywood blockbuster about menstrual health (Pad Man) and a documentary on the same topic that winning an Oscar (Period. End of a Sentence.).
We are recognizing that women’s health is synonymous with public health, with societal health. And investment in women’s health is increasing across all life stages, not only in the field of reproductive and maternal health. We have come a long way, but of course, there’s still much farther for us to go together.
You can also join a live discussion with Jessica and many other thought leaders in the pharmaceutical industry at the FT US Pharma and Biotech Summit in NYC, on May 14. Find out more on live.ft.com/USPharma
