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Gaining the Competitive Advantage

Posted on June 12th, 2017 by in Pharma R&D

SD case study

It cannot be overstated how important it is for pharmaceutical companies to get new drugs to market as fast as possible. That some of these drugs could actually be life-saving, or at least life-altering, for hundreds, thousands or even millions of potential patients is itself a very real encouragement for researchers working in drug discovery and development. But the business pressure on their shoulders is also immense.

In such a competitive environment, a delay of just a few months can give a rival company the chance to get to market first, meaning that it is important to move through everything from trials to approval at top speed. However, in drug development, where drug failure rates have become a challenge – you have to not only account for speed, but also the thoroughness and quality of the data you use to make decisions at every stage of development. In the earlier discovery stages, companies who are able to efficiently tap into current research and scientific trends in different therapeutic areas have definitive advantages. This includes identifying and building an expert network that you can harness because quite often, the successful solutions are borne out of pharma companies partnering with startups, academic researchers, CROs and other trusted experts.

Our recently developed case study for Scopus, one of our solutions at Elsevier offers some lessons on this topic. It spotlights a medical affairs executive at a large pharmaceutical company who explains how high the financial stakes are for companies like his and details the time pressures that he faces. He uses Scopus to help him with responsibilities that include finding external experts to work with, keeping tabs on competitors and following current research trends.

Being able to do these tasks efficiently and effectively, and feeling confident that the information is reliable and trustworthy, contributes to the company’s ability to stay on the edge of innovation and to keep one step ahead of the competition.

Read the case study here.


 

All opinions shared in this post are the author’s own.

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