By 2020 the Pharma R&D process may be shortened by two-third, success rates may dramatically increase, and clinical trial costs could be cut substantially, according to a research report by PricewaterhouseCoopers, entitled Pharma 2020: Virtual R&D, which path will you take? New computer-based technologies will create a greater understanding of disease biology and lead to the evolution of 'virtual man' to enable researchers to predict the effects of new drug candidates before they enter trials with human beings, notes the study.
During this week's GEN podcast, Dr. Neil Patel explains why the pharmaceutical industry is at a pivotal point in its development. He talks about seven key trends that are reshaping the pharmaceutical marketplace and posing a challenge to business. Dr. Patel describes the current pharma research process and addresses what it might look like once robust computer models of the entire human body are available. He also discusses the nature of the changes emerging in technology and the business environment that will provide the pharma industry with new strategies to compete successfully in the future and on a global basis.