Drug development has traditionally been slow and costly. Life sciences firms are under pressure to reimagine drug development while containing costs and navigating regulatory changes:
$2-$3 billion is the average cost of the drug development process.
12-18 years is the average length of the drug development process.
20 years is the period of validity for drug patents.
The good news is that recent technological advancements have made it possible to accelerate the process while maintaining patient safety. Advances in semantic data management, composable architecture, and low-code solutions make change more manageable by enabling firms to manage the journey step by step.
In our whitepaper “Digital acceleration for faster, more accessible therapies” we explain how life sciences companies can break down organizational silos, embed cybersecurity, and embrace tech-driven compliance to develop more effective drugs in a shorter time frame.