Covid-19 changed research investments
While investing in research for new drugs and products was always a crucial element of life sciences, the Covid-19 pandemic and the years following have shifted the industry’s perspective on how to approach research investments and new product development.
In addition to an anticipated 20% increase in life sciences lab and R&D space over the next two years, companies are finding a need to streamline and scale development without sacrificing the clinical integrity and timeliness of their medical knowledge and resources.
How does clinical data impact business decisions?
Life sciences teams are finding that access to user-friendly, evidence-based clinical information does more than inform drug research and treatment regimens. The data can address challenges within core business functions as well, helping to:
- Reduce costs.
- Streamline operations and workflows.
- Improve ROI.
By combining clinical and drug decision support solutions with drug pricing analysis, life sciences teams are able to apply current evidence and medical data to key projects and needs within their business, including:
- Consulting the latest evidence and supporting clinical research to inform trials.
- Accessing leading evidence on innovative treatments like precision medicine.
- Providing in-depth drug and clinical information and pricing to support competitive intelligence and sales training.
- Tracking drug pricing, forecasting, and competitors’ products, including off-label uses.
- Assisting in product research, pricing, and launches with a single source of information across teams.
Having consistent clinical content across life sciences teams can enhance decision-making and support business outcomes.
eBook: Accelerating ROI for life sciences
To learn more, download the eBook, “Accelerate life sciences ROI with the right data investments.”