Business Trends: Pharmaceutical Technology, 2010
Introduction
This Ovum study examines top business challenges, IT budget outlook, and spending priorities among pharmaceutical and biotechnology companies in the US, Canada, France, Germany, the UK, China, India, and Japan. It is based on the results of Ovum’s Business Trends primary research, conducted in 3Q10, with a total of 150 life sciences companies.
Features and benefits
For the life sciences industry, regulatory compliance is and will always be at the heart of every business and IT investment strategy. With drug development having a price tag of $1.3 billion and 10-12 years, the last concern should be that a drug will not be approved because data was generated or stored on unvalidated, non-compliant IT systems.Life sciences companies are more anxious about product pipelines than the approaching patent cliff. Although the 2011 patent cliff is top of mind of most Big Pharma executives, the only way to compensate for lost sales is to replace them with sales of new, innovative drugs. Unfortunately, most companies are struggling with this task.As companies look to streamline and cut costs, IT solutions that help to improve operational efficiencies, such as ERP, LIMS, CTMS and BI, are crucial. However, with costs of clinical trials skyrocketing, particularly in the NA region, adoption of CTMS and EDC are a must as well.
Your key questions answered
This Ovum study examines top business challenges, IT budget outlook, and spending priorities among pharmaceutical and biotechnology companies in the US, Canada, France, Germany, the UK, China, India, and Japan. It is based on the results of Ovum’s Business Trends primary research, conducted in 3Q10, with a total of 150 life sciences companies.
Features and benefits
- In-depth interviews with 150 pharmaceutical and biotechnology companies
- Geographic coverage includes: US, Canada, France, Germany, UK, China, India, and Japan
- The study focuses on business challenges, IT budget outlook, and adoption rate of e-clinical technology solutions
- Respondents include IT decision-makers such as CEOs, CIOs and CTOs
For the life sciences industry, regulatory compliance is and will always be at the heart of every business and IT investment strategy. With drug development having a price tag of $1.3 billion and 10-12 years, the last concern should be that a drug will not be approved because data was generated or stored on unvalidated, non-compliant IT systems.Life sciences companies are more anxious about product pipelines than the approaching patent cliff. Although the 2011 patent cliff is top of mind of most Big Pharma executives, the only way to compensate for lost sales is to replace them with sales of new, innovative drugs. Unfortunately, most companies are struggling with this task.As companies look to streamline and cut costs, IT solutions that help to improve operational efficiencies, such as ERP, LIMS, CTMS and BI, are crucial. However, with costs of clinical trials skyrocketing, particularly in the NA region, adoption of CTMS and EDC are a must as well.
Your key questions answered
- Validate your market messaging and positioning in the life sciences industry
- Compare pharmaceutical and biotechnology IT purchasing plans across geographies
- Identify emerging areas of concern for pharmaceutical and biotechnology companies
