Life sciences firms owe it to themselves to capitalise on new global insights contained within the substantial new regulatory database systems they have had to build for compliance purposes, says Amplexor's David Gwyn.
Data
In what is hopefully a sign of things to come, increasingly, the bigger international pharma organisations are waking up to the wider potential of capturing and collating regulated product data in a consistent electronic format, as demanded by regulators. In 2020 this ought to be the priority of all firms, as they seek to recoup their investments and tap into all of this invaluable live, consolidated global product data.
One major international brand, which has centralised all regulated product data, now finds itself with on-demand access to the current regulatory and market status of all of its 14,000 products across the world. As well as being able to see, at a glance, where these are being sold, and the status of current licensing, the company’s business and operational teams are able to quickly discern ‘white space’: that is, currently untapped markets.