Innovation in pharmaceutical packaging: Bormioli Pharma’s way introduced at Pharmapack Europe.
Reshaping the innovation model to anticipate market needs and improve patients’ quality of life.
Innovation and R&D in pharma is a must for success in the medium-long term: according to the latest Strategy+Business Global Innovation 1000, healthcare is the industry that will invest more in R&D by 2020, overtaking computing & electronics for an overall global spending of about 180 billion dollars. Moreover, looking at the top 20 companies for R&D spending on revenues, half of them belongs to the healthcare industry.
This also applies to pharmaceutical packaging, where the drive for innovation is getting increasingly stronger to develop products preserving the drugs integrity and improving patients’ quality of life, also looking at digital integration and ‘smart’ packaging.
Bormioli Pharma, leading global producer in the pharma packaging market, has been rethinking its innovation model to play its part in the industry and to have an increasingly relevant role in the supply chain by introducing innovation in the industry. This is a top priority for the company, being innovation among the pillars of its five-year strategic plan.
Shaping a new innovation model is key for Bormioli Pharma, radically changing how new ideas are generated and presented to market, harnessing external ideas while leveraging in-house R&D outside their current operations. This also means creating a broader, more porous environment, enabling either inbound and outbound innovation, generating new value both in Bormioli Pharma and in the surrounding environment.
In order to do this, it is essential to nurture an innovation culture, fostering lateral thinking and its application throughout the company, because new and good ideas may come everywhere in the organization. This innovation culture puts patients on center stage, improving the quality of their lives and guaranteeing the absolute integrity of the drugs.
The application of this new model has already seen the first concrete actions being put into place, including:
– A new disruptive corporate structure, unifying marketing and innovation functions to better intercept the external needs and trends, ensuring a faster go-to-market. Moreover, co-creation initiatives based on design thinking approach are on-going, as well as internal training and programmes aimed at spreading a genuine innovation culture among the organization
– An open and more distributed innovation approach, involving clients and final users, as well as start-ups and incubators – such as Le Village by Crédit Agricole – to achieve a big impact from true innovations
Thanks to this approach, the company can better intercept new consumers’ needs and external trends, such as digital and sustainability:
– Digital is a game-changer in pharmaceutical packaging, and Bormioli Pharma is working to develop new integrated solutions aimed to serve both pharmaceutical companies and the end users
– Sustainability is another key driver in the market, and Bormioli Pharma is pushing for solutions aimed at transferring a circular economy model to the pharmaceutical industry, with R&D projects in place to develop new sustainable plastic materials, both bio-based (PLA) and recycled (rPET, rPE). Bormioli Pharma has also co-developed a new pharma grade rPET, a 100% recycled Polyethylene terephthalate, and has already been producing packaging using this polymer, showing the same performances of the ones made with virgin plastics.
The “new wave” of Bormioli Pharma is symbolized by its whole new brand identity – a manifesto giving life to the very concept that animates every day’s company behavior: Small part, Big impact – that will be unveiled for the first time during Pharmapack Europe.