Possibly more than any other companies, drug research companies (pharma, bio pharma and biotech) will depend on external partners (such investors, partnerships, and licensing deals) to finance for their products, expand geographically, and finally increase company revenues. This article brings about the specific ways in which computer software or technology designed for the industry can help pharmaceutical players.(this article assure the external financial support they may require to finance new products by beautiful product demonstrations; or brings up essence of technological tools for exploring partnerships/drug product licensing).
Tools VS Product Demonstrations:
When raising funds by an IPO (Initial Public Offering) / FOPO (Follow on Public Offering), the drug players must create demonstrations that depend on all the information currently known about a product and its potentialities. The provisions promptly to access all relevant written documents to gear up strong demonstrations, include the ability to speedily answer all questions is very essential. The drug companies should have technology to demonstrate, share, organize of all documents from any source, maintain secure, centralized database of product and etc; that can be easily accessed. In addition to unionizing all product documents, s/w tool for the drug players formulated to assure that only the most current, up-to-date documents can be accessed. This not only step-ups the likeliness of important product research comes through, it enables researchers or scientists, senior management, marketing/sales professionals and other people to develop strong product demonstrations. The ability to provide a substantial amount to the point information and datasets to be comprised into demonstrations is also very important; as this helps non-technical members more easily understand the value of coming out products.
Technological tools VS Exploring Partnerships/Drug Product Licensing:
Generally, the finding out for product licensing deals, partnerships and strategic confederations is a cooperative effort that engages pharmaceutical analysts, patent attorneys and business development / marketing professionals.
The likeliness of the success of this type of adventure, and its colligated value, reckons on to a large amount on the handiness of developed supportive documents or tools that give description of the practicality, impute, strengths of a product, its rationale as well as ability to meet specific requirements. Technological tools that bring up to date centralized database, ensure quick access to all of the most nouveau data pertained to particular products. By knowing importance of such kind of tools drug players can catch easily all potential partners.
To conclude, customized or specifically formulated technology tools are boon for all drug companies in requirement of external funding for development of new drug products. These will helps drug players to organize various research documents that they’ve collected on chemical and biological compounds. It also extends access to the most recent drug product development documents and so on; this helps drug companies to formulate strong product demonstrations. Also for bigger pharmaceutical companies trying to reduce costs via outsourcing or contract models in lower-cost regions, customized tools for the players is very important; such arrangements assure accountability, tracking, and are specifically formulated to manage all operations from anywhere through their centralized, highly customized web-based tools. Equally important is the ability of the formulated tool to help all drug companies meet all regulatory requirements, which establish current good laboratory (cGLP) or current manufacturing practices (cGMP), and clinical trials (cGCP), etc. Also bigger players looking to merge with or acquire another player generally have placed fairly large financials in various s/w tools that are good for putting SOPs, other important documents necessary for compliance, or for lay aside for future use but may be incompetent of insuring documents from other critical quality processes or parameters (Or) bigger companies may depend upon enterprise resource planning (ERP), CRM and etc applications which are not linked to a quality management system (QMS). In these scenarios the pharmaceutical companies need progressed connectivity solutions, specifically formulated to link various processes in order to give a holistic QMS for them. This link up exchanges bigger players to leverage their existent modules by incorporating them with other quality diligences without overpriced custom-made.