The Importance of an Integrated Informatics Solution for Life Science Organizations

The exorbitant cost of bringing a new pharmaceutical product to market in the U.S. is well documented, with estimates as high as 12 years and $ 2.6 billion USD. There are many factors that drive this cost, including rework due to a lack of access to information from previous experiments, loss of intellectual property (IP), and data mining inefficiency. The goal in drug development is to be the “first to file” for approval of a new drug in order to maximize return on investment (ROI) and increase profit potential, all while producing a high-quality product and remaining regulatory compliant. For a drug development program to be successful, product and process knowledge should be managed along the entire product lifecycle. Knowledge management is a systematic approach to acquiring, analyzing, storing, and disseminating information related to a product, its components, and the manufacturing processes used to develop it. Sources of knowledge include prior knowledge, innovation, pharmaceutical development studies, manufacturing experience, continual improvement, change management activities, process validation studies, and technology transfer activities. Download to find out more.