Pharmaceutical companies are involved in the development, marketing and sales of pharmaceutical drugs and related products.
Drug discovery is the process in which potential drugs are designed, discovered or developed for future sales and marketing via research & development and clinical trials.
Several trends are now influencing the pharmaceutical industry:
- Healthcare policy-makers and payers are increasingly mandating what doctors can prescribe.
- Healthcare payers are measuring the pharmacoeconomic performance of different medicines via the use electronic medical records.
- Demand for medicines is growing more rapidly in the emerging economies than the industrialized economies.
- Governments are beginning to focus on prevention rather than treatment because the current healthcare cost curves cannot be maintained.
- Regulators are becoming more cautious about approving truly innovative medicines.
- Regulators worldwide are cooperating on acceptance/rejection of pharmaceuticals.
- Access to medicines is becoming regarded as a basic human right.
- Generic drug spending is increasing and mandated by countries in many cases.
- Open-innovation platforms such as InnoCentive and Kaggle are having an effect upon the way pharma conducts research.
The pharmaceutical industry is both critical and a significant economic force.
- Cost to develop a drug = $1.3 - 5 billion in the US.
- The pharmaceutical market will exceed $1.6 trillion by 2020.
- 20.5% of US sales is applied back to research and development.
- Only 2 of 10 US marketed drugs return revenues that match or exceed R&D costs.
- It takes 10-15 years to develop a drug to where it can be marketed to the public.
The Pharmaceutical industry model set consists of Enterprise, Business Area, and Data Warehouse logical data models developed for companies producing and marketing pharmaceutical products.
The Pharmaceutical data models provide a comprehensive information architecture supporting the manufacture, inventory, marketing and reporting of pharmaceutical information across the entire organization.
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The ADRM Software Pharmaceutical industry models are designed to be used in conjunction with our R&D and Clinical Trials solution data model and our Genomics solution data model, for those Pharmaceutical customers active in either of those areas.
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