Resilient Pharmaceutical Supply Chain: Key Insights from the Milken Institute Health Summit

November 20, 2024 Catherine Williams - Chief Editor Health

The Milken Institute Future of Health Summit brings together key figures in public health to discuss vital issues in the healthcare industry. This year’s event centered on advancements in the pharmaceutical supply chain and their impact on patient access to medications.

Panel Overview:

  • Moderator: Sarah Karlin-Smith, senior writer at the Pink Sheet
  • Panelists:
    • Kirk Kaminsky, president of U.S. Pharmaceutical at McKesson
    • Laura Bray, chief change maker at Angels for Change
    • Shami Feinglass, managing director at Manatt Health
    • Vimala Raghavendran, vice president at USP

Key Takeaways:

  1. Need for a Resilient Supply Chain

    Raghavendran highlighted a recent report showing the highest drug shortages in a decade. Factors include rising patient demand, availability of active pharmaceutical ingredients (APIs), and manufacturing issues. Kaminsky emphasized that patient needs must guide efforts to strengthen the supply chain.

  2. Importance of Coordination

    The panel stressed the need for collaboration among federal, state, and local governments, nonprofits, and the private sector. Kaminsky noted the value of creating a competitive market to manage drug shortages effectively.

  3. Skilled Workforce Demand

    The panel discussed the challenge of attracting and retaining skilled supply chain workers. Feinglass pointed out the need for support during crises, particularly in manufacturing complex products. Kaminsky mentioned McKesson’s investments in automation to improve employee focus and safety.

  4. Role of Digital Transformation

    Data and AI are becoming essential in improving supply chain efficiency. Kaminsky stated that AI requires solid data, while Bray emphasized the need for better data sharing among stakeholders to preempt shortages.

The insights shared during this panel are vital for ensuring patient access to necessary medications and medical solutions. The discussions aim to support a strong and innovative pharmaceutical supply chain.

For more information, a recording of the panel discussion is available here. Learn more about McKesson’s efforts in supply chain resilience here.