Life Science and Global Growth: how to Navigate the Industry’s Complexity and Create Global Growth
Insights from Implema’s customers, Life Science companies Atlas Antibodies and Calliditas Therapeutics.
The Life Science sector is a dynamic and rapidly growing industry facing several significant challenges. In parallel with developing their product, companies must navigate complex regulatory landscapes and balance cost control with innovation. At the same time, they must manage marketing and distribution difficulties and adapt to the demands of globalization.
Life science and global growth
Implema has extensive experience in both the Life Science industry and business systems. Together with our customers, these are the biggest challenges:
- Regulatory challenges
- Balance between cost control and innovation
- Marketing and distribution challenges
- Global competition
- AI – The importance of keeping up.
Regulatory Challenges
An example of the regulatory challenges that Life Science companies face is the EU’s Corporate Sustainability Reporting Directive (CSRD). This directive requires comprehensive sustainability reporting, which is complex and time-consuming to implement. Atlas Antibodies, a Swedish biotech company, has expressed concern about the increased reporting burden. They see a challenge in consolidating data from different sources to meet the requirements.
Balance between Cost Control and Innovation
Balancing cost control with innovation is another major challenge. Companies must maximize the value of their investments while promoting research and development. Companies manage this by working with shorter lead times and frequent reconciliations in their development initiatives. This allows for quick decisions on whether to continue or terminate projects.
Marketing and Distribution Challenges
For Life Science companies that rely on distributors, it can be challenging to ensure that their marketing reaches end customers effectively. It is crucial to maintain close relationships with both customers and distributors to understand their needs. As well as ensuring that the products receive the attention they deserve. In addition, price pressure has increased after the pandemic, which further complicates the situation.
Atlas Antibodies manages these challenges by using a modern business system that improves collaboration with their global distributors and provides insights into end-customer needs. With automated processes and a clear overview of the supply chain, they ensure that their products reach the right target group effectively, despite increasing price pressure and competition.
Global Competition
Globalization offers opportunities but also challenges. Companies in countries with lower production costs create price pressure. Therefore, it is important to clearly communicate product quality and unique benefits. The choice of the right distribution partners who market the products effectively in different markets is also crucial. By using modern business systems, growing companies like Atlas Antibodies and Calliditas Therapeutics can create structure and scalability. This makes it possible to manage global expansion in an efficient and sustainable way. Market by market.
AI – the Importance of Keeping up.
For AI to deliver real value within Life Science, a solid foundation of collected and structured data is required – something that modern business systems enable. By integrating data from across the business, business systems create the conditions for AI analysis that can automate processes, predict trends and optimize resources. Growing companies like Atlas Antibodies show how the combination of AI and business systems helps to meet the industry’s challenges. It helps them drive growth in a competitive market.
the Role of Business Systems in Meeting Life Science and Global Growth
Calliditas Therapeutics + Microsoft Dynamics 365
Modern business systems play a crucial role in managing the challenges within the Life Science sector. Calliditas Therapeutics, a fast-growing biotechnology company, modernized its systems with
Atlas Antibodies + Microsoft Dynamics 365
Similarly, Atlas Antibodies has chosen to implement Microsoft Dynamics 365 with Implema as a partner to create a stable and scalable platform for their business. With Dynamic 365, they can manage important processes such as production, warehousing and traceability, which is crucial for their high quality requirements and global expansion. The business system also enables Atlas Antibodies to meet increased regulatory requirements and streamline workflows, which strengthens their competitiveness in an international market.
