In today’s market, the life sciences industry is facing a number of challenges. The challenges range from the expiration of patents, escalating cost of clinical trials and increasingly stringent new regulatory guidelines. Due to these factors, the pharmaceutical, CROs and medical device companies must re-evaluate their clinical trials processes and look for efficiencies, faster time to market and reduce costs. In addition, the companies must quickly update their processes and polices to comply with new standards.
In today’s market, the life sciences industry is facing a number of challenges. The challenges range from the expiration of patents, escalating cost of clinical trials and increasingly stringent new regulatory guidelines. Due to these factors, the pharmaceutical, CROs and medical device companies must re-evaluate their clinical trials processes and look for efficiencies, faster time to market and reduce costs. In addition, the companies must quickly update their processes and polices to comply with new standards. Clinical trials are a particularly costly and time-consuming part of the R&D process, frequently accounting for over 40% of total R&D spending.
More than half of clinical trials are behind schedule by one to six months. And there is a tremendous cost involved with every day that a trial is delayed, not just on the product value if the investigational medicine gets to market, but on the actual cost of running a trial on a daily basis which is estimated to be about $35,000.
Savvion offers a contemporary solution to help manage and automate the operations aspect of clinical trials that can cut the cost and time by up to 33%. The Savvion Life Sciences Foundation enables automation of critical processes such as site set-up, site management, patient enrollment, safety data distribution, grant management, patient information management, clinical quality document management and subsequent improvements of the business.
Featured Speaker
Roy has 19+ years experience in Life science software development, including research and development. He has worked as development Architect in global remote data capture clinical data management system and Primary Developer and Global Project Manager for proprietary clinical RDC system supporting multiple, multi-billion dollar drug programs. His experience includes Design, initiation, and implementation of a document management center of excellence for pharmaceuticals, managing integrated clinical trials and global application rationalization and harmonization of a major pharmaceutical company’s research and development systems. Roy holds Bachelor of Science in Information and Decision Systems from Carnegie Mellon University.
