The International Society for Pharmaceutical Engineering (ISPE) Foundation Set to Enhance the Future of Pharma Industry


Having worked with pharmaceutical clients for more than a decade, the team at Six Degrees Medical understands the incredible pace of change inherent in the industry. Ongoing changes to regulations, new research and revolutionary new treatment methods require organizations like the ISPE to prioritize innovation. With this in mind, the ISPE has launched a philanthropic arm dedicated to enhancing the organization’s ability to support its members as they “address new and evolving industry demands.”

The ISPE Foundation supports the education, training, and research necessary to advance innovative technologies, and seeks to create solutions to existing challenges in the development, manufacturing, and supply of pharmaceutical products. The foundation sponsors programs that aim to enhance the future of the profession, preparing their members for the challenges of tomorrow.

The foundation is seeking funding to support a wide range of dynamic, mission-focused initiatives, including:

Developing the Future Workforce

Through the ISPE Travel Grant Program[1], the ISPE aims to attract, support, educate, and train young people eager to enter the pharmaceutical industry. In the U.S. alone, 60% of the 3.4 million pharma industry jobs could be vacant by 2025, due to scarcity of young people entering the industry. Given that skill requirements are changing in response to innovation in drug manufacturing, preparedness is key in building the workforce of tomorrow.

Women in Pharma

Currently, only 28% of R&D engineers are female, and they hold board seats on a mere 17% of the top 50 pharma companies. Of that 17%, only 8% are ethnically diverse. This has been proven[2] to negatively impact decision making, employee satisfaction, and consumer orientation. As such, the ISPE Women in Pharma[3] program will provide women with professional training and education to drive successful career progress.

Global Knowledge Exchange

A growing demand for new medicine, combined with emerging markets and technological advances, has produced an overwhelming pace of change in the pharma industry. To overcome the associated challenges, the industry will need to maintain established standards while incorporating new scientific and production quality standards in light of harmonized regulations. The Global Training and Harmonization Fund[4] will support emerging markets through the sharing of best practices, and the transferring of professional knowledge, standards, and expertise.

An Exciting Step Into the Future of Pharma

Particularly as a female-led company, Six Degrees Medical is excited to see the ISPE Foundation supporting the future of the young women entering the pharmaceutical industry. To donate to the ISPE Foundation, or to learn more about each of their specific initiatives, click here.

[1] ISPE Foundation, “https://ispe.org/initiatives/foundation

[2] McKinsey and Company, “Diversity Matters”, https://www.mckinsey.com/~/media/mckinsey/business functions/organization/our insights/why diversity matters/diversity matters.ashx

[3] ISPE Foundation, “Women in Pharma”, https://ispe.org/women-pharma

[4] ISPE Foundation, “Emerging Markets Knowledge Exchange”, https://www2.ispe.org/iMIS/ISPE/Fundraising/globalknowledgeexchange.aspx

December 10th, 2018|Categories: Articles|