Business Challenges in a Rapidly Changing Environment
|
Drug development has never been more competitive. Increasing numbers of biotechnology companies, small pharmaceutical companies and research institutions are innovating across the entire spectrum of human health. Drugs are becoming increasingly expensive and risky to develop and existing sales are being adversely affected by multiple market factors. There is a sometimes desperate struggle for new and replacement products. The established large pharmaceutical companies have moved to a strategy of acquisition and in-licensing, which requires them to screen thousands of opportunities and earlier stage products each year.
Few companies, if any, have the manpower resources to manage the knowledge required to keep up with all the opportunities. Further, traditional information management methods focus on individual pieces of market information without the ability fully contextualize and convert that information into actionable knowledge. As earlier deals and a much wider search for deals become more common there is a need for a new method of creating knowledge where traditional tools are too expensive, too slow or simply unavailable.
Emerging pharma and biotech companies face an increasingly risk-averse financial community and need help overcoming the core valuation issues that are frequently the stumbling block to funding the critical second stage of product development -- the proof of preclinical concept. Core knowledge about the market place can be a significant support in these efforts.
As a result of the enormous number of new products entering clinical trials every year that are potential licensing candidates, business analysts frequently restrict their assessments of the market to those products that are already established in clinical trials. This means that the true future position of the market, as well as the full scope of activity in the market is very different from that presented by these analysts, simply because there is no method available to the analysts to complete the depth of analysis necessary.
PharThinkingTM methodology will offer both the technology to provide knowledge at high speed in an easily accessible way, as well as providing a depth of knowledge that would be hard for any company to develop and maintain using internal resources alone.
| |
|
|
|
