Pharma R&D: Time for a sharp right turn on the road to profitable growth 
Published: Jun-20-13
 

The challenges facing pharmaceutical companies’ R&D functions have never been greater. Under pressure to deliver innovative products while holding spending flat, organizations are feeling the impact. In fact, in the past three years, 18 R&D locations have closed in the United States—an additional 14 in Europe. But a shift is under way. Leading pharmas are leveraging new information management platforms to reduce costs, shorten drug development timelines, and maintain quality and compliance. These companies are turning to pre-competitive collaboration.

Better, faster outcomes

By working with other research partners, the flexible, pre-competitive collaboration model means companies no longer have to bear all the development burdens themselves. What’s more, this new approach may be able to cut development costs by more than 30 percent and accelerate timelines by at least 10 percent, while still maintaining high quality and compliance.

The cloud-based model is also helping pharma companies:

  • Focus on the science—rather than the operations—of clinical trial execution.
  • Facilitate data exchange between external partners. We’re already seeing this with TransCelerate Biopharma, a nonprofit joint venture which brings together 10 Big Pharma companies to find ways to make the clinical trials process more efficient.
  • Establish foundational capabilities to facilitate future growth and efficiency.

For most pharmaceutical companies constrained by the costs of drug development, regulations and lengthy timelines, this change in approach couldn’t come soon enough. Far-sighted pharmas know they need to overhaul their approach to R&D. Pre-competitive collaboration could be that sharp turn that puts them back on the road to profitable growth and helps them rethink, reshape and restructure for better patient outcomes.

To learn more, download: Pharma’s Sharp Right Turn on R&D: Creating an IT Platform to Fuel Future Growth.

 
 
 

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About the Authors
Anne O'Riordan
Anne O'Riordan is Senior Managing Director responsible for Accenture's Global Life Sciences Practice. Worked throughout Europe, the ...
 
Jeffrey Russell
Jeffrey Russell is managing director of Accenture Life Sciences in North America. Russell has more than 20 years of experience worki...
 
Doug Mowen
Doug Mowen is managing director for Accenture’s Medical Technology Practice. With 25 years of experience and 15 years serving the Li...
 
Jeff Elton
Jeff Elton, managing director of Accenture Life Sciences, has broad responsibilities for the strategy and partnerships for ne...
 
Shawn Roman
Shawn Roman is a managing director in Accenture Life Sciences and leads the North America Commercial Services practice. Mr. Roman h...
 
Kevin Julian
Kevin Julian is a managing director and global lead for Accenture's Life Sciences Accelerated R&D Services. Previously he was re...
 
Andrea Brueckner
Andrea Brueckner is a Managing Director in Accenture’s Life Sciences practice. She also leads the practice in Europe, Africa and Lat...
 
 

 

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