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Cost Analysis
March 6, 2017

Determination and Management of Should Cost

“As global competition becomes a hot priority for top management in many companies, there is going to be a scramble to lower prices at any cost.” - Supply Chain Quarterly Global competition is a powerful driving force in the biotech and pharmaceutical industries, as complexities continue to rise and adjustments to the way we do business need to be met.  Remaining competitive in the rapidly changing global landscape requires companies to reconsider inflexible, outdated and inefficient models of pricing. Prescription drugs often provide effective alternatives to expensive medical procedures and hospital stays. Consequently, spending on prescription drugs as a percentage of the total national health care spending is increasing and is one of the fastest growing components of health care spending.  The cost of bringing a new drug to the marketplace has also been steadily increasing, with manufacturing costs comprising a substantial part of the total cost structure. (more…)
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Data Management
March 3, 2017

The Biggest Decisions Your Company Makes are Based Off Spreadsheets?!?

Decision-making is a core function of any drug development firm.  Developing drugs demands a firm to be highly innovative, while at the same time the activity is strictly regulated. - Antti Jekunen, NCBI                                                                                              When moving through the drug development process the high stakes decisions made will save or cost tens to hundreds of millions of dollars.  Making a decision in a timely manner with precision and accuracy is essential to bringing a drug to market.  Pressure from investors, stakeholders, stockholders, and regulators have critically changed the dynamic and pressure involved and still, the pharma industry does not adapt to innovation and maximize available technology.  How many hours are wasted searching through scribbles in random lab…
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Pharma and Politics
March 2, 2017

Drug Costs and Accountability in Our Changing Climate

“I’m going to bring down drug prices,” Trump told Time magazine, “I don’t like what has happened with drug prices.” Although biotech and pharmaceutical stocks initially rose after the election, the budding optimism drug makers enjoyed rapidly faded with Trump's comments regarding drug prices.  President Trump is not the only one concerned about drug pricing in the United States.  The increasing cost of prescription drugs has become a source of concern for patients, prescribers, payers, and policy makers.  Public outrage has intensified over recent decisions by companies to levy significant cost increases, such as the EpiPen pricing scandal.  Even pharmaceutical executives are feeling the sting over drug pricing.  Recently, Chief Executive Officer Leonard Schleifer of Regeneron Pharmaceuticals Inc. and Ian Read of Pfizer Inc. have argued over the role of drug pricing in the pharmaceutical industry.  Schleifer’s comment to Read over the cost of drugs: “You’re not entitled to a fraction of the GDP.” (more…)
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