Barbara Arone, vice president, real world solutions, IQVIA, examines the ways biotech and emerging biopharma companies can effectively apply real world evidence (RWE) early in the product lifecycle while staying within their resource limits.
Key insights:
- With the rise in precision medicine, RWE is a 'must have' that helps to contextualise clinical research and aid in the understanding of treatments being developed.
- RWE can help tell a story, by identifying the target patient population, establishing a baseline of their disease state and providing insight into sites and treatment centres that would be a fit for the trial.
- A way biopharma and biotech companies can address the downsides of each type of research is to combine both primary and secondary data on the same patients.
The need for real world evidence (RWE) is rapidly growing in the product lifecycle, especially in drug development for rare diseases. Using RWE allows biotech and emerging biopharma organisations to understand the patient population on a more granular level and provide compelling evidence for stakeholders such as regulators, payers, patients and even the investor communities. With the rise in precision medicine, RWE is no longer a 'nice to have' but a 'must have' that helps to contextualise clinical research and aid in the understanding of treatments being developed.