Optimizing Pharma for Efficiency and Accuracy
According to a recent report from PhRMA, US biopharmaceutical companies spend more than 13 times the amount of R&D per employee than all other manufacturing industries. This is because potential drug candidates require lengthy and complex testing to ensure they are safe and effective for patients. Yet, despite all of the money invested, only about 12% of the drug candidates that make it into phase 1 testing are approved by the FDA. While knowledge about a disease and its potential treatment is not lost with “failed” candidates, innovative research tools must be used to avoid spending time, money, and effort on products that have limited endpoint efficacy. Through the implementation of automation, data management, and analytical technologies, pharma has the opportunity to breathe new life into a number of areas of the biologics drug development process.