Eric Neuffer: Business models can become more attractive by reducing environmental impact and improving sustainability. Companies can appeal to their consumers (B2B or B2C) who are increasingly environmentally conscious and may choose to support those businesses that prioritize sustainable practices. We are seeing this in various forms in our client engagements, typically with many large pharmaceutical companies leading the way.
In addition, green approaches to drug substance manufacturing can also provide economic benefits. For example, using renewable energy sources and reducing waste production can save costs on raw materials and disposal. Implementing green chemistry principles can also lead to the development of more efficient and economical synthesis routes, ultimately improving the overall manufacturing process. Green initiatives can also help companies comply with regulatory standards and avoid potential fines or penalties for environmental violations.
By proactively implementing sustainable practices, businesses can demonstrate their commitment to environmental responsibility and enhance their reputation among stakeholders. Overall, integrating green approaches in drug substance manufacturing can have far-reaching benefits, including increased consumer appeal, reduced costs, and improved environmental sustainability, ultimately contributing to effective business models.