The biopharmaceutical industry is changing rapidly. In recent years there has been a definite push to embrace the potential of Real-World Data (RWD) to support clinical trial findings. Gone are the days when data collected during efficacy trials was enough to convince payers or national agencies of a drug candidate’s value. The pressure to adapt is coming from all sides; regulators, sponsors, patients and in the competitive world of pharma, the market itself. It is becoming increasingly necessary to demonstrate the value of the therapy in patient populations that mirror the expected recipients.
Previously we’ve highlighted difficulties with patient recruitment, retention, and discussed how Real-World Evidence (RWE) is changing the pharma world; this week we bring you a concrete example.
PAREXEL International —a global biopharmaceutical services provider—has announced the launch of its Connected Journey of data-driven services.
What is Connected Journey?
PAREXEL’s Connected Journey consists of over 40 data-driven services. Its most recent, the ForeSite™ clinical trial methodology, integrates therapeutic area expertise, and real-time analytics technology to predict site productivity. The solution enables sponsors to improve feasibility and site selection, as well as to more effectively engage and retain sites and patients.
“While drug companies have access to more data sources than ever before, they face challenges in generating and integrating meaningful insights that drive timely and actionable decisions,” said Mark A. Goldberg, MD, president and COO, PAREXEL. “Aggregating and leveraging the right data to drive value requires a broad range of services working together to generate insights across the entire drug development and commercialization spectrum. We believe PAREXEL’s global scale and broad technical expertise offer clients a uniquely integrated and comprehensive portfolio—delivered by a single provider.”
How will Connected Journey change PAREXEL?
Getting our hands on data is no longer the problem; the challenge is making sense of that data. “In the past, the problem was that we didn’t have the data. Now, we have piles of data. There is now the need to apply sophisticated informatics and statistical approaches to get value from the data,” said Xavier Flinois, President of PAREXEL Informatics.
Connected Journey is PAREXEL’s solution to data aggregation and ultimately data-driven decision-making. This platform aims to guide stakeholders through the trial process to bring drugs to market faster than ever before. PAREXEL claim that their data-driven solutions are helping them complete trials 22% faster than the industry average.
To find out more, watch The Connected Journey of Data Driven Services video here.