The pharmacy is determined to disrupt the clinical trials sector.
The pharmacy retail giant will be expanding tremendously as they will now be tapping into the lucrative clinical trials business. Walgreens will be utilizing its massive amount of patient data, technology, and retail locations to expand its services within the healthcare sector.
They plan on revolutionizing the clinical trials industry by using community and racial and ethnic diversity in sponsor-led drug development research, say executives.
Ramita Tandon, Walgreens’ new chief clinical trials officer, described the clinical trials business as Walgreens’ “next growth engine” of consumer-centric healthcare solutions.
Tandon said Walgreens is in “active discussions” with several drug manufacturers to launch clinical trials.
“We move into healthcare, and we’re focused on creating consumer healthcare solutions in our local communities; clinical trials are sort of a natural extension of that vision overall,” said Tandon.
“We can leverage our clinical trials business as an opportunity to change the paradigm for the patient experience of participating in clinical trials and create more connectivity with patients and care,” she said. “We have the ability to give our patients access to these trials in a way that they perhaps have never been tapped into before. One of our goals is to really help move the needle in trial participation.”
Ever since the pandemic, we have seen the incredible profits Big Pharma has made from vaccines, boosters, medical tests such as the PCR test, and other prescription drug medications.
The COVID-19 pandemic has created a $100 billion pharmaceutical goliath. Pfizer’s revenue is estimated to be over $100 billion by the end of 2022.
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