This is Part #1 of a blog series describing how disruptive innovation technologies such as Saama’s Life Science Analytics Cloud is enabling the Pharma industry to bend its clinical development cost curve sharply downwards while bringing cures to patients sooner. Co-authored by Nekzad Shroff, Vice President for Business Consulting and Enablement and Amit Gulwadi, Senior Vice President for Clinical Innovations, this blog explains the overall ROI benefits for a typical trial sponsor.
Clinical development is a complex process with many dependencies and tradeoffs. It typically involves an ecosystem of entities such as biotech and pharmaceutical manufacturers (sponsors) and Clinical Research Organizations (CROs) working together in partnership to conduct clinical trials. Drug development is a long and expensive undertaking which has been rapidly rising in complexity and cost over the past decades. This alarming trend has made many headlines1 in the recent past with regulators, politicians, payers, pharma companies, and patients pushing to find new ways to make clinical development costs sustainable.