HLT Collaborates with CphMRA at the 2019 China Pharmaceutical Decision Science Summit, Launching a Strategic Partnership and Releasing the White Paper on Real-World Evidence Insights
From October 23 to 25, the 8th China Pharmaceutical Decision Science Summit and CphMRA 2019 Annual Conference, hosted by the Pharmaceutical Professional Committee of the Market Research Industry Branch of the China Information Association (CphMRA), was grandly held in Nanjing. At the conference, the “White Paper on Real-World Insights and Market Research in China (Draft for Comments)” (hereinafter referred to as the “White Paper”), jointly prepared by CphMRA and Happy Life Tech. (HLT), a leading real-world insights company in the industry, was prominently released.
Group Photo of Corporate Representatives Contributing to the White Paper
In recent years, the wave of big data, artificial intelligence, and machine learning has grown increasingly powerful. Big data technology companies have sprung up like mushrooms after rain, covering every link of the industrial chain. Pharmaceutical and biotechnology companies have also actively integrated data technologies into their R&D, marketing, and sales processes, with the immense potential value of big data gaining industry-wide recognition. However, there is still no unified understanding or standard across the industry regarding what constitutes big data, how to use it correctly, and how to apply it accurately.
“This is precisely the significance behind our compilation of the white paper,” stated Wang Wei, President of the China Pharmaceutical Market Research Association. “Our aim is to establish a universally recognized big data language across the industry, ensuring that different departments and functional units speak the same language when discussing how big data can address business challenges, thereby maximizing the value of big data.””
To promote and standardize the application of Real-World Insights (RWI), the White Paper conducts a comprehensive study on the use of Real-World Data (RWD) in market research and business intelligence, examining six dimensions: concepts, technologies, application scenarios, security and compliance, leading enterprises, and challenges and prospects. “Frankly speaking, we were on a very tight schedule to release the White Paper at this summit. Based on our experience, among the numerous companies specializing in pharmaceutical real-world data and technologies, HLT not only offers comprehensive data dimensions but also possesses what is currently the strongest data intelligence analysis capabilities, including its medical and consulting expertise. Therefore, we provided an outline and had them draft the main sections,” said Wang Wei. “Of course, we envision this White Paper as an iterative document, functioning more like a crowdsourcing initiative in terms of its working mechanism. Thus, the version we are releasing today is a draft for comment, and we hope that more big data practitioners will join us in contributing their wisdom to the White Paper.”
The release of the White Paper was structured into three sections: Practice, Achievements, and Outlook. In the Practice section, Cao Tingting, Senior Manager of the Customer and Commercial Insights Team at Bayer China; Chen Mengji from Senyi Intelligent; and Lu Minli from Fangkuo Research respectively presented case studies on real-world insights currently being implemented in the market.
In the Achievements section, Xia Ruobing, Head of HLT’s Real-World Insights and Consulting Services and Project Director, who served as a key editorial board member for the White Paper designated by the China Pharmaceutical Market Research Association, stated, “Real-world data insights, or real-world evidence-enabled healthcare, cannot be accomplished independently by any single company or institution; it requires collective investment from the entire industry. Our primary motivation for taking a leading role in compiling the White Paper is to share our experience, deepen end-users’ understanding of so-called real-world data, and help companies and institutions that currently possess real-world data capabilities and technologies to better develop data products.”
Head of Real-World Insights and Consulting, HLT
Senior Director Xia Ruobing
The “Outlook” section was conducted in the form of a roundtable interview forum, moderated by Peng Hang, Senior Director of Brand Strategy at HLT. Wang Wei, President of CphMRA; Ma Sufeng, Secretary-General; and Han Yi, Professor of Pharmaceutical Economics Research at Sun Yat-sen University, discussed the existing challenges and future opportunities of real-world data in China.
Far right: Wang Wei, President of CphMRA;
Second from the right: Han Yi, Sun Yat-sen University;
Second from the left: Ma Sufeng, Secretary-General of CphMRA;
Left: Peng Hang, Senior Director of Brand Strategy at HLT;
Market research and business insights, as critical links in ensuring that medicines are effectively delivered to patients in need, are key to enhancing drug value and achieving commercial success. Real-world data (RWD) exhibits the “4V” characteristics of big data: high Volume, diverse Variety, rapid Velocity, and high Value with low density. This implies that, similar to big data applications in other contexts, RWD in the healthcare and pharmaceutical industries requires meticulous processing and refinement to transform vast amounts of heterogeneous and dispersed data into widely actionable information, thereby realizing its value.
Hao Yiming, General Manager of the Innovative Healthcare Solutions Division at HLT, vividly illustrated a process in his speech by citing the discovery of celestial bodies such as Pluto, pulsars, and neutron stars. “In 1967, an American scientist consistently detected a pulse signal with a frequency of 1.337 seconds. Many people speculated whether this was a signal from extraterrestrials to Earth and proposed various hypotheses. However, as scientists continuously collected and analyzed the signal, they ultimately discovered a new celestial body. Based on the energy state of its radiation, scientists were able to determine the distance of this celestial body from Earth and analyze its mass. By integrating all this information, they identified it as a high-mass star that had become a neutron star after exhausting its energy.”
General Manager Hao Yiming stated that while there is an abundance of real-world data, our persistent pursuit has been to uncover value inaccessible through traditional methods by leveraging the right data and appropriate analytical approaches. Our vision is to provide the industry with deeper and more professional insights through real-world data.
Hao Yiming, General Manager of the Innovative Medical Solutions Division at HLT
During the dinner event, the Pharmaceutical Professional Committee of the Market Research Industry Branch of the China Information Association signed a strategic cooperation agreement with Happy Life Technology (HLT) Co., Ltd. Wang Wei stated, “Overall, HLT demonstrates strong comprehensive capabilities in data technology, advanced analytics, and consulting experience. They are a very young and rapidly growing team with ambitious aspirations. In pursuit of their vision for green healthcare and to provide reasonable and appropriate treatment plans for a broad patient population, they have undertaken numerous challenging tasks without hesitation. Only innovative enterprises willing to endure hardship and fatigue, and committed to building their work step by step on a solid foundation, can become the unicorns of the future.”
Through this signing, CphMRA and Happy Life Technology will officially become strategic partners. The two parties will carry out strategic cooperation in three areas: “building a platform for exchanging and sharing innovative solutions based on real-world data,” “upgrading industry solutions and establishing new standards,” and “promoting the development of big data talent in the pharmaceutical research industry.” Working hand in hand, they will fully leverage their respective advantages in industry expertise, technology, services, resources, and policy, adhering to the principles of equality and voluntariness, to jointly advocate, advance, and create industry-leading innovative market research solutions based on real-world data.
Hao Yiming and Wang Wei represented HLT and CphMRA, respectively.
Signing of Strategic Cooperation Agreement
The conference also witnessed the leadership transition of the CphMRA Steering Committee. Following recommendations, self-nominations, and organizational deliberations, Mr. Hao Yiming, General Manager of HLT’s Innovative Medical Solutions Division, was appointed as Vice Chairman of the Steering Committee; and Ms. Xia Ruobing, Head of HLT’s Innovation Insights and Consulting Department, was appointed as Secretary-General of the Steering Committee. With significant influence and disruptive insights, HLT will continue to forge ahead, fostering innovation and achieving win-win outcomes alongside the industry.