The analysis notes that research base is "shifting east, emerging economies are competing more aggressively and financial investors are getting more cautious". However, the report goes on to quote PwC research, which claims that a 5% increase in success rates for each phase transition and a 5% reduction in development times could cut R&D costs by about $160 million, as well as accelerating market launch by nearly five months.Jo Pisani, partner, global pharmaceuticals and life sciences at PwC, said "efficiency is the name of the game and the adoption of a more collaborative approach could just be the key to unlocking this potential". Working with others "accelerates and facilitates innovation, discovery and development, which in turn can reduce costs and benefit both large and smaller companies", she added, noting that "even small changes could yield significant savings".
via pharmatimes.com
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