Optimization of Business Processes in the Pharmaceutical Industry in the Conditions of the Circular Economy

The article formulates the advantages and challenges of implementing circular economy princi- ples in the pharmaceutical industry. The main strategic aspects of optimizing business processes in the context of sustainable development are substantiated. The results of the study highlight the specifics of implementing circular economy principles in the pharmaceutical industry by updating the environmen- tal, economic and social benefits of such a transition, as well as analyzing potential opportunities and challenges along the way.
Despite the obvious advantages, the circular transformation of the pharmaceutical industry faces a number of challenges: regulatory restrictions – strict requirements for the quality and safety of medi- cines can complicate the implementation of circular innovations; high initial investments in technologi- cal modernization and restructuring of processes; the complexity of the transition from established line- ar business models to circular ones; insufficient level of inter-industry cooperation to create closed cy- cles; lack of specialized knowledge and competencies in the field of circular economy.
It has been proven that overcoming these barriers requires a comprehensive approach, namely: adapting the regulatory framework to promote circular innovations, developing public-private partner- ships to finance transformation projects, forming industry alliances and cooperation platforms, develop- ing educational programs and staff training, and introducing economic incentives for circular innova- tions.
For effective transformation of business processes of pharmaceutical companies on the basis of a circular economy, it is proposed to apply a phased approach that involves diagnosing the existing busi- ness system, auditing material and energy flows, identifying ‘bottlenecks’ and sources of waste, as- sessing the potential for circular transformation of various business processes, determining priority are- as for optimizing business processes, developing a circular strategy for the company, setting measurable goals and KPIs, forming a transformation roadmap, and determining the necessary resources and sources of financing. At the same time, the feasibility of implementing pilot projects, introducing circu- lar solutions in individual production areas, testing innovative technologies and processes, evaluating results and adjusting approaches, and accumulating practical experience in order to scale successful cir- cular business practices are substantiated.