PHARMALEX: STRENGTHENING THE FRONTIERS OF PHARMACEUTICAL BIOTECH AND MEDTECH INDUSTRIES VIA TECHNOLOGY
THE 20 MOST INSPIRING CEOs TO WATCH IN 2023
Digital advancements have touched and revamped almost every industry of our economy. When it comes to revamping the realms of Pharmaceutical, Biotech, and Medtech domains, there is still a gap for services that will help companies to accentuate their development processes, streamline the functioning of business objectives and save time in sourcing essentials from the market. A brand born out of many ambitious leaps is in the quest of filling this gap.
PharmaLex is a pharmaceutical organization that holds on to the early stages of product development, garners efficient market approvals via its team of experts, and regulates post-launch product maintenance activities. The team leverages strategic planning activities to guide their clients about the market adaptability of their products. What we have presented today in this read, is taken from the detailed conversation our team had with Mr. Pawan Kumar Suri: Managing Director of PharmaLex India. PharmaLex India is the subsidiary of PharmaLex GmbH (the global headquarter of PharmaLex Group). As ecstatic as we are to discuss his entrepreneurial knowledge, our readers will too be left mesmerized by his journey. Our team couldn’t help but highlight his passionate leadership in this special issue of “The 20 Most Inspiring CEOs to Watch in 2023”.
Pharmalex is an emerging pioneer in curating specialized services for the pharmaceutical, biotech, and medical device industries, compliance being its utmost priority. The brand has completed over 43,000 successful projects and has its footprints in over 30 countries with 60 offices worldwide. A whopping percentage of its new projects come from repeat business which speaks for PharmaLex’s mettle. The sole credit goes to the idea of fusing broad-canvas thinking and a targeted problem-solving approach.
The major domain of services includes-
- Strategy and Consulting
- Regulatory Affairs
- Pharmacovigilance/Medical Affairs
- Quality and Compliance
- Medical Affairs
Excellence Amidst Variable Market Trends
PharmaLex is driven with a tech spirit. The company has all ears to Automation, Artificial Intelligence (AI), and Machine Learning. Indeed these modern tech drifts are contributing to increased productivity, fine quality, and scaling return on investment. Somehow the pharmaceutical industry is still in the comfort zone of operating with established systems and methodologies that are now not up to the mark. These formulaic systems are becoming outdated as far as innovation and growth are concerned.
At PharmaLex, one can find a significant amalgamation of diverse global experiences and an intricate understanding of pharmaceutical lifecycle processes under one roof. PharmaLex has succeeded in establishing the potential of its cloud-based platform for automating life sciences. Its pharma technology-enabled services are proven to help the clientele in leveraging all possible innovative technologies to encompass efficiency in their operations.
When asked about the strategies to maintain an edge over the competitors, Mr. Pawan said “The mantra for staying ahead of the curve is to continuously interact with all of its stakeholders- analysts, investors, clients, etc. The company swears by its “CUSTOMER FIRST” ideology and pours it into its business model. PharmaLex has the astute acumen and understanding of technology to find the real treasure in immense volumes of valuable historical data that can be analyzed to predict future outcomes. These raw ingredients are utilized in customizing the success recipe for its clients. This is called “SMARTPHLEX”.
From PharmaLex’s perspective, Research and Development is an imperative tool for guaranteeing the ever-increasing trajectory of growth. The organization is constantly involved in evaluating current market patterns. This evaluation is used to adjust its service model as per the demands of the customer. A crucial step in this cycle is the incorporation of innovative arrangements called SMARTPHLEX as mentioned above, for both interior and customer usage. For us, innovation is the major fuel for expanding our horizons and gripping the roots of a smoother business.”
Work Culture that Empowers Employees for Tomorrow
“PharmaLex hosts an environment where employees are given serene respect for their hard work. The environment is amicable to work in. We introduce diversity in their daily assignments to mitigate any sort of monotony in work. They are given ample opportunities to carve out their skills and expand their knowledge. Every contribution made is acknowledged with generosity. The management is at the forefront to support the employees by giving them immediate access to a knowledge-dense international network of colleagues. The team which I just mentioned, comprises people from interdisciplinary backgrounds. These people provide the right guidance to our employees and guarantee their enriching careers at PharmaLex. During our team building process, special attention is paid while hiring its people. The candidates we chose certainly have emblems of flexibility, efficiency, dedication, and passion imbibed in their way of thinking”, asserts Mr. Pawan Kumar Suri.
Continuing further he says, “Work-life balance is at the core of PharmaLex’s overall organizational culture. My idea of establishing this balance is to start exercising the concept first for myself. I have to be smart while defining my work-life balance and setting priorities in my professional as well as personal life. This way I can understand the complexities of balancing both and come up with solutions that guarantee serenity in both spheres. This also helps me to think from an employee’s perspective and come up with efficient ways to fuel the motivation of my employees. I believe it is equally important to get creative with your time. Participating in recreational activities is an excellent choice for keeping your mind alert and active. Not only does such involvement enhance levels of energy and alertness, but it also bolsters your concentration and cognitive functions. Last but not the least, commitment to self is essential!”
Words of Wisdom for Budding Entrepreneurs
We asked for a sweet wrap-up note for our extended family and Mr. Pawan Kumar had some hidden yet beautiful words of inspiration for our readers and young entrepreneurs.
“My advice to young entrepreneurs would be to ensure that everything that goes into building a new business entity bears fruits of zeal. As a business leader, you are bound to carry important responsibilities on your shoulders. Your vision is crucial in keeping the organization on the right track and not letting it deviate from its purpose. Some things may excite you today but won’t have the market potential to become disruptive in the future. So, you must have a comprehensive approach while weighing the pros and cons. A CEO should have the ability to disperse various tasks to teams as per their capabilities. However, there are oodles of many other activities for which the CEO’s involvement has a larger impact. During your journey, you may witness businesses failing out of nowhere. CEOs must not get too attached to a particular business but instead focus their energy on where the real value is: developing a serial business-building capability. PharmaLex’s team knows that the ultimate algorithm to refabricate its position is to exceed the client’s expectations and work for their comfort first. In the end, I would like to mention a quote written by Winston Churchill, “To improve is to change; to be perfect is to change often.”