In the wake of the Theranos disaster, Dave Edwards, executive vice president of sales at MasterControl, explains why digital transformation is key if pharma companies are to achieve transparency throughout product development.
Cloud plan
Not long ago, everyone was clamouring over Theranos founder Elizabeth Holmes drafted a captivating pitch, courted investors and even partnered with Walgreens to open blood testing centres in California and Arizona. Theranos seemed too good to be true, and it was.
Holmes and former-Theranos president Ramesh Balwani misled the public through a systematic lack of transparency. The company did not have peer-reviewed evidence showing the safety and effectiveness of its machine, and soon holes were poked in Holmes’ narrative, leading to the company’s ultimate demise.