The pharmaceutical industry has been under immense pressure ever since the first case of COVID-19 was reported. However, one of the silver linings of the pandemic was that it triggered more remarkable ways to research and develop vaccines. Eventually, the pharmaceutical industry came out all guns blazing, developing covid-19 vaccines in record time. According to Statista, as of February 28, 2023, over 13 billion COVID-19 vaccine doses had been administered worldwide. The industry has hosted a paradigm shift in the process, promising a great future for all stakeholders.

Technological advancements have been the most significant change. The pandemic forced the implementation of many technologies and innovations, which were just a part of the conversation otherwise. COVID-19 made the BoTech industry think about the similar healthcare catastrophes ahead of us and how to be prepared to face such predicaments, hence the increasing focus on approaches like Immunomodulatory therapy. Talking to CEO Insights in an exclusive one-on-one session, Sanjay Vyas, EVP, Global SBU Head-Clinical Logistics & Global Safety Services & Managing Director India, Parexel, explains it aesthetically, "The methodology used in some of the vaccines today, such as Messenger RNA (mRNA), is an excellent example of the application of technology. Conventional vaccines use a dead virus, what we call the unaffected virus, to transmit the vaccine into the body so that our body becomes immune to the whole process. But with the mRNA, a virus is no longer required to be a part of that vaccine.

On the other hand, if it took around 5-7 years to launch a conventional vaccine or a therapy in the market, it has been reduced to less than two years." It's a great time to be in the BioTech industry with many challenges and opportunities. We have curated a bunch of stories from the industry.Let us know your thoughts.