Pharmaceutical decision support consultancy, Lifescience Dynamics, wins Queen’s Award for Enterprise for International Trade
Consistent and sustainable growth based on overseas sales
Success supports the trend in novel health technologies such as personalised, targeted, precision and regenerative medicines
UK and European base critical to company’s success in global exports
Lifescience Dynamics, a London headquartered decision support consultancy, has been awarded the prestigious Queen’s Award for Enterprise 2016 for International Trade. The business’ global network of opinion leaders, payers, researchers and expert consultants provides the pharmaceutical and life sciences industry with ‘unrivalled’ strategic insight and foresight to assist with difficult decision making, in complex and uncertain market conditions.
In the heavily regulated pharmaceutical environment, Lifescience Dynamics has the ability to engage with a vast, global network of experts to determine market opportunities that pharmaceutical companies cannot directly gather themselves. To this effect, Mr Rahmani has said:
“The success of the business is down to the team’s ability to gather market data and intelligence. To deliver actionable and impactful recommendations that are both impartial and considered. We are enablers that allow the world’s pharmaceutical businesses to see what’s around the corner.”
A changing healthcare environment
With so few blockbuster drugs on the horizon and many key disease areas well served by generics, innovation in the pharmaceutical market now focuses on precision and targeted medicine including biologics, regenerative and gene therapies.
“These novel treatments are expensive to discover, develop and produce, and it’s often uncertain who, how, and when anyone will pay for them,” says Rahmani. “In these niche markets, our pharmaceutical and biotech clients require a trusted partner for guidance. They are increasingly reliant on having a deep understanding of the market to ensure successful introduction of new pharmaceutical products.”
The company has seen exponential growth; having doubled in size from 2014 to 2015. 2016 is predicted to grow at a similar rate with offices planned for US expansion in Boston, Princeton and Chicago.
“It is an absolute honour to be acknowledged with the Queen’s Award,” says Rahmani. “We compete on a global level every day and we are winning.”
The success of Lifescience Dynamics’ recent growth correlates with the emphasis it places on hiring and training the best staff in the world. 75% of the organisation have PhDs and are recruited from the international pool of talent that is attracted to the UKs top universities. Rahmani attributes the fact that London is home to 10 of the top 100 universities, as a crucial success factor for Lifescience Dynamics.
Lifescience Dynamics work across three practice areas:
- Market research (qualitative and quantitative)
- Competitive Intelligence (primary and secondary research)
- Market Access, pricing and reimbursement
In the summer of 2004, Rafaat founded Lifescience Dynamics. He had a vision of what would make an effective global decision support service, dedicated exclusively to pharmaceutical and biotechnology industries. It would have to be the best in class market research, competitive intelligence and market access, combined with first-rate people and a business model that met their clients’ global requirements. Lifescience Dynamics is privileged to be able to boast an extraordinary worldwide customer base, supporting clients from top 20 pharmaceutical companies through to smaller niche pharma and biotech firms. Rafaat prides himself in his dedication to his clients: “Revenue is important, but customer experience is even more crucial” is a motto reflected in everything the company does.