Competitive Intelligence for Pharmaceutical Companies
March 20, 2012
Big pharma has been the leader in the use of machine-centric systems to keep revenues flowing. Between the worldwide economic crisis and the growing costs of developing new drugs, pharmaceutical companies need strategic software now like never before. Digimind’s blog reports on “CI in Pharma—Maximizing Success for Clinical Trials.”
By the time a drug approaches market, its parent company has typically sunk several years and many, many dollars into research and development, initial clinical testing, and clinical trials with human subjects. After all that, the company must get an accurate picture of its competitors’ progress before moving into the product launch phase. Failure to get it right at this stage can doom an entire project.
At this juncture, accurate data analysis is crucial. Digimind is one company offering competitive intelligence solutions for pharmaceutical companies. Writer Orlaith Finnegan describes her company’s offering:
“Digimind’s clinical trials dashboard provides some of the leading global Pharma companies with comprehensive real-time monitoring of clinical trials, gathering information from over 120,000 active trials in 178 countries. Digimind’s clients can easily identify what trials are being conducted in each geographical region of the world, the current stage of the trial, the estimated enrolment number, estimated completion date, what disease the drug aims to treat, any reported outcomes and lists of participating laboratories. In addition, Digimind’s interactive timeline enables our clients to see up to 50 clinical trials at a glance.”
Digimind works to save its clients time and money by automating and streamlining the collection, analysis, and sharing of data. Its global client list includes organizations from a broad range of industries. The company boasts of having turned a profit from day one, and of growing by 50% annually. As a side note, as of this writing their Web site says they are hiring.
Stephen E. Arnold, March 20, 2012
Sponsored by Pandia.com
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This post is full of Information..Thanks!
After reading this blog what i understand that Pharmaceutical Market Research is the basic
need to grow in the pharma industry.Pharmaceutical Competitive Intelligence is the key of success and Pharmaceutical Market Research should be done before entering into the market.