Following an industry shift to focus on rare diseases and increased activity from smaller companies, the cost to bring a drug to market has now decreased to under $2bn for the first time in over five years. However, forecasted sales per approval are declining, raising concerns about long term sustainability.
In this dynamic environment, regulatory affairs and business development and licensing (BD&L) teams are feeling the pressure to make smarter, more accurate market decisions without increasing resources.
In this report, we examine the challenges facing both functions and present case studies on how artificial intelligence (AI) could be the solution needed to manage global complexity.
We’ll share insight from Clarivate Analytics, GSK and Merck on how AI can allow regulatory affairs and BD&L teams to:
- Automate necessary, but mundane, manual tasks and focus energy on high-value activities
- Make faster, more accurate decisions in response to market changes
- Track and compare pipeline activity and global regulations
- Predict key approval timelines and allocate resources accordingly
Featuring an exclusive case study on how an AI model delivered 25 per cent more accurate data than the average BD&L team, five areas to focus AI efforts to improve regulatory productivity and strategies to minimize the risk of AI implementation.
Download your copy of the report today!
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