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Pharma Tech Outlook | Thursday, December 17, 2020
Automation, cognitive technologies, and advanced analytics offer opportunities to transform pharmacovigilance from preparing reports for regulators to creating a learning system.
FREMONT, CA: For the past several years, the pharmacovigilance function has been responsible for gathering, processing, and reporting adverse events and other product safety data to regulators. PV’s process-heavy nature often drove firms to choose associated safety systems based on their potential to organize data and streamline efficiency, usually leaving limited system options. Several global health care trends reshape today’s PV function. While many of these trends offer considerable benefits, they also are exerting pressure on biopharmaceutical firms’ existing safety systems.
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As a result, many firms face significant cost burdens to maintain and upgrade these systems, under the present safety system paradigm—the same trends may cause the costs of conventional upgrade methods to grow disproportionally versus advantages. This, in turn, is prompting biopharma companies to consider how automation, cognitive technologies, and analytics help them get more from their PV systems and provider-supplied case processing and signaling data to generate a next-generation digital learning system that efficiently and cost-effectively increases product quality and patient safety.
Results of the latest survey of mid- and large-cap global biopharma companies’ PV practices, costs, and plans show that most are investing in PV-related automation to gain process efficiencies, free up resources to perform value-added tasks, improve quality assurance consistency, accuracy, and reliability; and mitigate their PV cost burden. Companies’ plans for the next few years focus heavily on using cognitive automation with present safety databases. Driving cost out of case processing is the primary objective for 90 percent of respondents; gathering data to enhance signaling is also important.
Low-cost leaders are outsourcing, taking benefit of scale, and moving aggressively to automate case processing. Survey respondents expect automation to produce an average cost savings of 30 percent per Individual Case Safety Report (ICSR). Most pharmaceutical firms continue to use conventional signal identification and investigation methods, and a few are using real-world evidence. Almost none are progressing social media channels. This is consistent with the present PV system potentials.
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