A lunchtime seminar entitled The Future of Pharma by Professor Brian D Smith was hosted by solicitors Matthew Arnold and Baldwin LLP in conjunction with Watford Chamber of Commerce.

Professor Smith, a recognised leader in the pharmaceutical field, explored the rapid changes and challenges facing the pharma industry.

He discussed how companies have to recognise that change is needed and what action is required if they are to remain successful.

He said: “Evolution is what is happening to the pharmaceutical industry. It is not a metaphor, it is a fact.”

He went on to say that for the industry to survive, pharmaceutical firms needed to keep adapting.

He argued that one way to do this was to have some understanding of what to expect in the future and he provided some of his own predictions on what the future would hold.

Pharmaceutical companies form a considerable hub in the Watford area and more than 30 companies attended the event, including large firms such as Pfizer and AstraZeneca. The audience totalled more than 100 people.

Paul Gershlick, head of pharmaceuticals and life sciences at MAB, said: “We were delighted Professor Smith was able to come and that so many of the local pharma businesses were in attendance.

“His talk was engaging and provided a real insight to the future of the industry. There is now a substantial hub in the Watford area which continues to provide growth and development both to the local area and the pharmaceutical industry.”

Sanjay Purohit, from Watford and West Herts Chamber of Commerce added: “We are delighted to have been involved in delivering this very successful, sector focused event. It is one of a series we have planned for 2012, to enable growth, business support and the economic vibrancy of Watford, in challenging times.

“The event also supports the Watford Health Campus Project, ensuring pharmaceutical and life science companies that attended are aware of this substantial opportunity to them.”