- Boehringer Ingelheim ended 2018 with net sales of EUR 17.5 billion
- Boehringer Ingelheim is the largest family owned pharmaceutical company in the world
- Boehringer Ingelheim invested 18.1% of annual net sales into R&D
Matt Bird – Host, Traders Network Show: 00:00
Welcome back. We’ve got Uli Broedl, vice president of medical and regulatory affairs for BI Canada. Uli, welcome to the show. You know, we love having you here. We met last year at the same event I think at Columbia University if I remember correctly.
Uli Broedl – VP of Medical & Regulatory Affairs, Boehringer Ingelheim Canada: 00:17
Exactly. It was a wonderful, you went last year.
Matt Bird – Host, Traders Network Show: 00:19
I think we even had a beer afterwards. Hopefully we’ll have another one this year, but right now the important thing is what’s going on with blockchain and thought leadership. You’re going to be on a panel upcoming up a little bit. Tell us a bit about the panel. What can we expect to hear from you?
Uli Broedl – VP of Medical & Regulatory Affairs, Boehringer Ingelheim Canada: 00:32
So the panel will address the question whether we are ready for blockchain in healthcare now and it’s a panel of distinguished experts like Frank Ricotta from BurstIQ, Sean Bass from Hashed Health and Wendy Charles from University of Denver. And we will have a bit of a controversial discussion to discuss. Is the environment ready yet truly for broad scale adoption because there is a number of moving parts, not only on the tech side when we talk about scalability, interoperability, but we also have to look at data standards, regulatory standards, questions around liability. But most importantly, if you ask me do we have enough awareness and understanding of the value proposition of blockchain technology in healthcare and this is what the panel discussion is about.
Matt Bird – Host, Traders Network Show: 01:28
Yeah, that’s a really good question. And as you know, I advocate for it, the World Economic Forum and we cover a lot of this stuff. I’m very familiar with BurstIQ. And, and I think the, the ultimate use cases is how the end user adopts blockchain from the enterprise level. It’s it is basically, it’s a more secure, it’s a transitionary move into a future technology. But is the real issue end user adoption?
Uli Broedl – VP of Medical & Regulatory Affairs, Boehringer Ingelheim Canada: 01:57
I think it’s both. It’s end user adoption. You know, we at Boehringer Ingelheim is a family owned pharmaceutical company. Want to make sure that we improve patient outcome and patient empowerment. So, of course at the end of the day we would love to see that the end user adopts, but you work in a decentralized ecosystem anyway using blockchain technology. So every stakeholder in the ecosystem has to adopt it. And at this point in time, I do not think we have gone beyond proof of concept and pilot cases.
Matt Bird – Host, Traders Network Show: 02:30
Well, there’s certainly a lot of politic cases that are out there right now. I think every trying to get to that end goal and maybe there needs to be some consolidation?
Uli Broedl – VP of Medical & Regulatory Affairs, Boehringer Ingelheim Canada: 02:39
I personally do think that we need some certainty in terms of data standards, regulatory standards. I don’t necessarily think we do need consolidation because I wanna see the entrepreneurs, the early adopters drive and shape the ecosystem. But at this point in time, I do think that we see too many moving parts to be ready for broader adoption.
Matt Bird – Host, Traders Network Show: 3:09
Well Uli, I’m looking forward to watching panel. What can we expect for you on the panel?
Uli Broedl – VP of Medical & Regulatory Affairs, Boehringer Ingelheim Canada: 3:14
I’m the one who was asked to take on the skeptical side of the discussion. Even though I’m personally passionate about blockchain technology. You know, Boehringer Ingelheim as a family owned business thinks in generations, not just in quarterly resides. So we are excited to invest into new technology to try patient safety and empowerment. Yet at the same time, we want to have some security that our investment really turns out to be helpful for society. So we want to see whether regulatory agencies truly adopt blockchain technology, not only on a conceptual level, but also on an implement implementation level. We want to see how data standards, most importantly, we are committed to driving innovation, to serve the needs of patients and to healthcare system.
Matt Bird – Host, Traders Network Show: 03:47
Well you’re certainly doing that very well. Congratulations, Uli. Thanks for coming on the show. I’m looking forward to catching the panel and for those of you out there, you can watch the actually the full panel on the archives on ABC, NBC, Fox, and CBS. We’ll be right back for our next guest. You’re not going to want to miss this.