Thermo Fisher Scientific participated in a panel discussion today alongside leaders from the pharmaceutical industry to share their experiences in developing sustainability strategies that help them navigate the ever-evolving regulatory landscape.

Held during BIO International and titled “Shaping Strategies for Impact, Resilience and Lasting Value,” the event featured panel participants Michael Cohen, senior director, environmental sustainability for the PPD™ clinical research business of Thermo Fisher Scientific; Andrew Kaplan, senior vice president of U.S. Public Affairs at Takeda Pharmaceuticals; Carol Richardson, ESG and Health Equity Lead at Teva Pharmaceuticals; and Marc Siegel, co-founder of Metrix Advisory.  

WHAT THEY SAID:  

• “The pharma industry is continuing to face heightened pressure from regulatory bodies and their customers to adopt strict sustainability targets, which is forcing them to rethink how to operate, communicate and drive long-term value.” - Michael Cohen
• “Our approach to sustainability has focused on prioritizing the highest levels of transparency. In our experience, we have seen that this helps reinforce our trusted partner status with our customers, maintain accountability and, ultimately, help drive progress.” - Andrew Kaplan
• “We can’t innovate in human health while ignoring planetary health. The sixth assessment of the International Panel on Climate Change is clear: We have a climate emergency, but it is also a health emergency. For example, rising temperatures will increase the ranges of vector-borne diseases and rising water levels will displace people, negatively impacting water quality and affecting our ability to grow food. Planet health is human health, and they are both directly intertwined, and we can’t focus on one while ignoring the other.” - Michael Cohen
• “Each and every one of us has the ability to make an environmental impact in our actions and decision making. Sustainability is an opportunity for efficiency, elegance and removing the unnecessary. Environmental sustainability creates value for our companies, our investors, our customers, our patients and our communities.” - Michael Cohen
•  “As a society, we now are finally starting to realize that sustainability is a lever for value creation. We are focused on our own waste and contributions to anthropogenic climate change so that we can achieve our goals. These create value by decreasing packing cost, waste cost, reduced reliance and exposure to fossil fuel costs all while reducing our greenhouse gas emissions, improving culture and supporting employee retention. Sustainability is an opportunity to build value for all stakeholders.” - Michael Cohen

KEY TAKEAWAYS

• Environmental, Social and Governance (ESG) is about responsible business, managing risks and opportunities, creating long-term value for businesses and stakeholders: patients, customers, communities and those that we serve.
• For clinical research, and most businesses, engaging with stakeholders on sustainability is critical. It’s important to have buy-in from customers (pharma/biotech), internal colleagues, clinical trial sites, patients and physicians. Working together with all these groups to better understand data, sources of greenhouse gas emissions and to collaborate on innovative strategies without negatively impacting patient safety, trial operations, etc., is critical.
• The panelists agree that the need for sustainability is greater than ever. Climate change has not stopped. Global public health needs and threats are rising. Stakeholders are increasing their expectations and customers expect companies to take action, which the industry is continuing to do.
• For those not working directly around sustainability, there are still plenty of ways to make a great impact by building sustainability into everyday life. While the problem is massive, everyone has buying power, whether that is at work through vendor choice, or in their personal lives. All can help create social and economic pressure that can amplify and encourage others. 

Biopharma Leaders of Color (BLOC) attracted a standing-room only crowd during BIO International yesterday with a discussion focused on leadership, innovation and community across the life sciences.

Titled “Innovation in a Changing Environment: Adaptive Strategies,” the panel sponsored by Thermo Fisher Scientific featured Karen Nelson, Ph.D., chief scientific officer, Thermo Fisher; Abbas Kazimi, CEO, Nimbus Therapeutics; Pam Randhawa, founder and CEO, Empiriko; and ​Dodzie Sogah, Ph.D., chief operating officer, Merida Bioscience. ​The discussion was moderated by Stephen Abreu, partner, Sidley Austin LLP, and executive director, BLOC.

WHAT THEY SAID:

• “As a community of scientists, [we need] to come together and continue to move innovation forward … take the challenge and turn it into something positive.” - Karen Nelson
• “Now’s the time to do hard things. … But [that idea] has to be differentiated and truly make a difference for patients.” - Dodzie Sogah
• “Leadership is changing a lot – there’s a move from authority to authenticity, charisma to clarity …. less invincibility and more vulnerability.” - Abbas Kazimi
• “Commercializing drugs in the clinic is not possible without academia and government partnerships.” - Pam Randhawa
• “I also truly believe that innovation starts with two-to-three people around a water cooler.” - Karen Nelson
• “Being an immigrant, you’re not asking yourself if the glass is half full or empty – you’re just happy you have a glass.” - Abbas Kazimi

KEY TAKEAWAYS:

• The panelists agreed that innovation is the lifeblood of the biopharma industry – and that will remain unchanged, regardless of market noise or chaos.
• While a changing environment creates challenges, it also sets up an immense opportunity for partnerships. To win, biotech and biopharma companies need to implement technology beyond the health and life sciences spaces, looking into partnership models, licensing deals, spin outs and utilizing academia and government contracts.
• Discipline is more important than ever. In a time where everyone is asked to do more with less, leaders need to drive focus and capital management. There’s value in creating environments where teams can celebrate pausing a low-performing program because it creates opportunity for other drugs and patients.
• Successful leadership approaches are evolving but are as important as ever. Support will follow those who build spaces that foster innovation.
• Talent – finding and investing in it – is key to driving success in a difficult environment. A talented team that is willing to step up and do more with less may not have it easy, but they will find ways to have fun and drive innovative forward.

Long-term life science collaborations require cultural alignment, good communication, transparency and more to drive innovation, efficiencies and increase success in bringing new therapies to patients, according to veteran life science executives participating in a fireside chat titled “The Power of Partnerships: Why Long-Term Strategic Collaborations Matter,” at Bio International today.

The panel included Betty Woo, vice president of the cell, gene and advancement therapies business at Thermo Fisher, and Anne Stone, life sciences investor at J.P. Morgan. The conversation was moderated by Monique Knighten, executive director of Portal Houston, a Texas-based network of life science incubators that hosted the discussion at its Boston location.

WHAT THEY SAID:

• “Everything we do starts with our customers… We feel strongly that the value of partnership must extend beyond an initial transaction.” - Betty Woo
• “Science will not go according to plan… Having a strong collaborative spirit and collegial nature is really essential.” - Anne Stone
• Cultural alignment is going to enable better communications; better communications provide more transparency; more transparency drives increased trust in a relationship, and increased trust ensures longer term success. - Betty Woo
• When it comes to biotech investment, the key is to “meet startups where they’re at with the right resources at the right point in time.” - Anne Stone

KEY TAKEAWAYS:

• The industry’s North Star is helping patients. Innovators can’t afford to be daunted by or afraid of changes; they must collectively ignite scientific advancement to accomplish that central goal.
• The best institutions – of any size or format – are adept at surveying the external environment and developing mid- and long-term strategies based on that.
• When considering external partnerships, look for:
  • A shared vision and values
  • The right technology to solve a given problem
  • Science that’s been demonstrated through data
  • Scalability, not only to manufacture at a profit but for practical application of the science/tech
  • Differentiation – to take a share of the market and grow together
• Just like investors track companies, companies should also track investors. Publicizing milestones that may be relevant to or address their interests is a great way to personalize follow up for later-stage or longer-term investment.
• The industry isn’t standing still, and serious players can’t afford to either. Success for the whole requires many working in concert with one another and collaborating to sustain momentum together, staying focused on long-term problem-solving to help patients. 

Thermo Fisher Scientific Chairman, President & CEO Marc Casper joined MassBio CEO Kendalle Burlin O’Connell and Mass. Governor Maura Healey for a fireside chat today at BIO International where they highlighted the Commonwealth’s deep industry roots, dynamic innovation ecosystem and unmatched talent pipeline as reasons why the state remains the world’s largest hub for the life sciences.

Titled “Massachusetts. This is the Place,” the discussion offered the perspectives of leaders helping to shape the future of the industry, as well as Casper’s insights on why Thermo Fisher continues to invest in the region, infrastructure and capabilities. Mass. Lt. Governor Kim Driscoll, State Representative and Speaker Pro Tempore Kate Hogan, and several state legislators were also in attendance.

WHAT THEY SAID:

• “It’s so good to see so many people coming to Massachusetts. And there’s a reason for that. It’s because what you guys have helped to create. You’re a reason people come from all over the world to research, to study, to found companies, to create economic development and growth – unparalleled growth. And it’s also the reason that people come here looking for hope for their loved one who’s dealing with a terrible disease. That’s the footprint of your work.” - Gov. Healey
• “I am just so grateful to Marc’s leadership and Thermo Fisher’s leadership around the world. It helps to bring in more companies and build that ecosystem [in Massachusetts].” - Gov. Healey
• “It’s a little more challenging of a time [right now] in the cycle of life sciences. No matter the challenges of economy, we have everything that we need. We’ve got the human capital. We’ve got the intellectual capital ... and this incredible ecosystem – research institutions, teaching hospitals, innovators and entrepreneurs, partners in government and our private sector. In times of crisis, question or uncertainty, we see the greatest innovations.” - Gov. Healey
• “Thermo Fisher is the largest life sciences company in the world and the largest contract developer and manufacturer of medicines in the U.S. We’re proudly headquartered here in Massachusetts and were founded here in the 1950s. Of our approximate 50,000 employees in the U.S., about 3,500 of them are based here in the state.” - Marc Casper 
• "We’re committed to supporting the growth of the industry. As you know, there is a real push to bring more manufacturing back to the U.S., and we’ve committed to invest about a billion-and-a-half dollars across the country in manufacturing capacity.” - Marc Casper
• “About half of our business is supporting the activities of the biotech and pharmaceutical industry, both in designing and executing clinical trials and developing medicine all the way through commercial production.” - Marc Casper
• “Proximity to customers is incredibly important, so we decided a number of years ago to open a state-of-the-art manufacturing center in Plainville, Mass., to support the manufacture of gene therapies. [We chose the location] because of the proximity to so much of the research in the area and access to a great workforce,” - Marc Casper
• “Massachusetts has the richest density of biotech companies, with 18 of the top 20 firms having a physical presence here in the state. We have some of the world’s best academic institutions that are not only training our talent, they are creating companies here.” - Kendalle Burlin O’Connell
• "Massachusetts is the best place in the world for research and development, and we didn’t get here by accident. There have been a lot of challenges, but we haven’t let that stop us, because we have a job to do.” - Kendalle Burlin O’Connell

KEY TAKEAWAYS:

• During times of uncertainty and challenges, collaboration is especially important.  Communication and collaboration among the biotech community, the pharmaceutical industry, research institutions, hospitals, universities, venture capitalists, and other funders – is what makes the ecosystem so powerful.
• The panelists agree that there are many reasons for the industry to be optimistic – citing recent scientific discoveries and manufacturing growth in the U.S. as key drivers.
• AI holds great promise at Thermo Fisher – in streamlining lower-value-added work, continuing to scale cost effectively for customers, empowering colleagues with access to knowledge to help solve problems for customers and improving the effectiveness of the company’s products and services.
• Governor Healey shared examples of how Massachusetts is supporting the life sciences industry: 
  • Re-authorization of the Life Sciences Bill for the next 10 years, which will direct funds to founders, researchers, entrepreneurs and private entities throughout the life sciences ecosystem. 
  • The Pathmaker program, through the Massachusetts Life Sciences Center, which funds training programs that address critical skills and talent supply gaps and connects skilled workers with life science career opportunities in the state. Thermo Fisher and other local companies are partners in the initiative.
  • Ensuring Massachusetts remains number one in the country when it comes to education – both in K through 12 and public higher education.
  • Continuing to invest in things that are fundamental to business success, including two of the governor’s top priorities – housing and transportation.
  • Continued collaboration across the ecosystem.