How Is SPI Pharma Evolving its Business Model to Meet the Future of Healthcare?



SPI Pharma, one of That's Nice's Road to 2021 sponsors, discusses how the company is evolving its partnership models or geographic footprint to meet the future of healthcare.

The COVID-19 pandemic provided SPI Pharma, and most companies, the first real test of business continuity plans. There are many examples highlighting successes transitioning business processes from a traditional office setting to those enabled by employees working from home. We believe that this will prove to be a disruption that will change the way we work. 

That disruption will also be felt in how we engage with our overall market and supply chain. The pandemic has proven the importance of emphasizing agility within the supply chain. This requires improved visibility to risks throughout the chain, reaching back to at least one’s supplier’s suppliers. 

SPI Pharma continues to prioritize the qualification and validation of alternative sources — a strategic objective that was invaluable during the last 6 months to enable us to face what started as a supply chain risk from China and grew into a global pandemic, impacting the entire supply chain. 

We will also review required materials and begin to focus efforts on finding alternative sources of maintenance, repair, and operations (MRO) supplies. Recently, we began an activity review of our business and supply chain processes. This is critical to drive out waste in our supply chain processes and to allow us to become a more agile pharmaceutical ingredients supplier. We are proud of our efforts, which helped secure critical ingredients for the pharmaceutical industry during the pandemic. Our customers could rely on us, and we delivered. Now we need to build upon these efforts and strengthen our supply chain further.  

Nice Insight

Nice Insight, established in 2010, is the research division of That’s Nice, A Science Agency, providing data and analysis from proprietary annual surveys, custom primary qualitative and quantitative research as well as extensive secondary research. Current annual surveys include The Nice Insight Contract Development & Manufacturing (CDMO/CMO), Survey The Nice Insight Contract Research - Preclinical and Clinical (CRO) Survey, The Nice Insight Pharmaceutical Equipment Survey, and The Nice Insight Pharmaceutical Excipients Survey.

SPI Pharma

SPI Pharma provides formulation innovation and support to pharmaceutical clients in more than 55 countries. Its products include antacid actives, excipients, taste-masking and fast-dissolve technologies, drug delivery systems for tablets, and a variety of other innovations for patient-friendly dosage forms. The company’s functional excipients can be used in a wide range of customer applications, including soft chew, chewable, swallow tablets, lozenges, orally disintegrating, and soft gel dosage forms. SPI Pharma is headquartered in Wilmington, Delaware, and has locations across the United States, France, and India.

SPI Pharma is a leading supplier of solutions to pharmaceutical formulation marketers worldwide. The company’s primary objective is to engineer functional materials that enable their customers to solve formulation problems, achieve differentiation, and gain speed to market. Through collaboration with our customers, SPI uses proven processing skills and formulation expertise to deliver value-added and cost-effective solutions to their customers’ problems.