World's top drug-maker Novartis takes aim at tech
17-Nov-14, Reuters
Talent spotters from Novartis AG, charged with bringing new ideas into the organization, are casting their net beyond biotech into the wider pool of wearable, or even edible, technology.
It's not that the world's biggest drugmaker by sales wants to make the next smart watch. Rather, its researchers are seeking fresh ways to monitor exactly how the company's medicines are working and being taken by patients.
Chief Executive Joe Jimenez predicts this will be an integral part of running a big pharmaceutical company in the coming decade, as rising healthcare demand coupled with limited budgets force drugmakers to generate hard data to prove their drugs are delivering results.
The interest comes at a time when technology companies are increasingly pushing from the other direction in an effort to find new ways for patients to monitor their own health and track chronic conditions using smart devices.