San Carlos, Calif. – Nov 19, 2019 – MarkLogic Corporation, the next-generation data platform provider for simplifying data integration, together with eyeforpharma, a hub for senior-level pharma executives, patient advocacy groups and other health experts, released a report of gathered insights from pharmaceutical leaders on how data challenges and data sharing will impact the future of patient care and healthcare costs.
Developed in collaboration with eyeforpharma, the report, “Defragmenting Data for the Future of Pharma R&D”, discusses why it is that even though innovation in pharma brings about faster time to insight—and thus faster time to market—only two percent of pharmaceutical industry executives consider their current levels of data sharing effective in bringing about critical innovation.
Key factors identified in the report as preventing pharma companies from sharing data include:
Data inefficiencies not only present a barrier to sharing, collaboration, and the development of new knowledge, they also slow commercialization, delay new ventures, and hamper operational improvements, the report states.
“The fact that pharmacovigilance might want to link chemistry data to incidents, for example, is not something anyone will have thought of when that database was originally created,” states Philip Hajduk, Vice President of R&D Information Research at AbbVie. “The way they’re architected prohibits asking more questions about the data. In many cases, it is not clear how those inquiries would be made at all.”
Although pharma has been addressing data issues, change has been piecemeal while the commercial urgency to respond at scale has become acute.
“Silos in R&D in particular are holding pharma organizations back. They know that if taking a drug to market takes as long tomorrow as it does today, they will soon be out of business,” says Bill Fox, Vice President of Vertical Strategy and Global CSO Healthcare and Life Sciences at MarkLogic. “By using a next-generation data hub framework, instead of trying to adapt legacy technologies, a two-year project can be completed in three or six months.”
Pharma data experts found that, when combined, massive volumes of data flowing in from clinical research and real-world environments can offer critical insights into disease, trials, and treatments. Based on insights from leaders at AbbVie, Boehringer Ingelheim, Janssen, MarkLogic, and Sanofi, the report outlines essential guidelines to realizing the potential of newly freed data, including:
Freeing data from silos should also bring a new generation of analytics, artificial intelligence, and machine learning tools to radically democratize the process of innovation within pharma.
The full report is available here.
Our mission is to make pharma more open and valued. More open so that the strongest ideas and insights are brought to the fore in a transparent, trustworthy manner. More valued by having an authentic approach to building products and services that matter to patients. To do this, eyeforpharma provides a hub for senior-level pharma executives, patient groups and other health stakeholders to exchange ideas and observe shifting trends and practices. We actively respond to the aims and interests of our audience, so please get in touch if you think we can do more. For more information visit www.eyeforpharma.com.
Data integration is one of the most complex IT challenges, and our mission is to simplify it. The MarkLogic Data Hub is a highly differentiated data platform that eliminates friction at every step of the data integration process, enabling organizations to achieve a 360º view faster than ever. By simplifying data integration, MarkLogic helps organizations gain agility, lower IT costs, and safely share their data.
Organizations around the world trust MarkLogic to handle their mission-critical data, including 6 of the top 10 banks, 5 of the largest global pharmaceutical companies, 6 of the top 10 publishers, 9 of the 15 major U.S. government agencies, and many more. Headquartered in Silicon Valley, MarkLogic has offices throughout the U.S., Europe, Asia, and Australia. For more information visit www.marklogic.com.