Despite breaking global sales records in 2015, biopharmaceutical companies are witnessing a slowing in growth and are under increasing pressure from payers and competitors to reduce costs.
So, what’s the solution?
Cost reduction initiatives often focus on process improvement but often overlook the impact of better data management. At IDBS, we believe a holistic, platform approach to the capture, management, analysis and re-use of product and process data can propel the development process forwards, reduce costs, improve quality as well as enhance your corporate image. Here’s how:
It seems so simple, doesn’t it? Having all your data from the execution of a process, and everything connected to it, accessible in one place, guarantees both data integrity, completeness and traceability. It reduces data silos and transcription errors that can occur when moving data between systems, people and organizations.
By using one platform as your single point of truth, you can identify problems faster and, thanks to the inherent traceability of electronic information, you can even identify and proactively prevent potential problems – such as an issue related to a change of supplier that may affect other ongoing studies – saving you $10,000s by avoiding re-work and development delays.
From May 2017, the US Food and Drug Administration (FDA) will require all new drug and biological product submissions to be sent electronically – but when choosing a system, don’t just think about what will benefit the FDA.
Using the right platform can reduce, and even eliminate, many of your data collation and Quality Assurance (QA) activities. But that’s not all. The right platform can also increase cross-departmental and external collaboration, and reduce the hours you spend finding and reformatting data. And all that time really does add up.
Bringing time to market forward by just one a week can reduce out-of-pocket expenses by $6 million. The typical development phase can add up three years and 20-25% of the associated costs of bringing a drug to market.
Take the generation of a technology transfer dossier as an example. The typical turnaround time is 3-4 months with up to 1 month of this time spent just gathering and verifying data. It’s easy to see where valuable time savings can be made. Reducing the time spent gathering data to one week doesn’t sound like a huge benefit – but it could be worth up to $18 million. More than this, it means pilot plant and manufacturing teams can find out what has previously been tried and tested; saving further valuable time and resources.
The IDBS Integrated Development Platform
Want to know more? The IDBS Integrated Development Platform, powered by The E-WorkBook Cloud, allows you to streamline your process execution and QA – meaning you can eliminate up to eight hours of wasted effort per scientist, per week. For a more in-depth look at how an Integrated Development Platform could help your business, download our whitepaper here.