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Pharmaceutical companies spend a tremendous amount of money each year on advertising and marketing. According to the Pew Charitable Trusts, “In 2012, the pharmaceutical industry spent more than $27 billion on drug promotion — more than $24 billion on marketing to physicians and over $3 billion on advertising to consumers.“ This strategy is designed to …

How Blockchain And AI Can Help Pharma Focus On Innovation Rather Than Advertising Read More »

The risky and unpredictable nature of the clinical trial process is a major driver of high costs for pharmaceutical
drugs. To justify the costs of drug development, most pharmaceutical companies aim to develop 2-3 new drugs per
year, but the success rate and long development timelines with clinical trials diminish the chances of a successful
product to nearly zero.

Pharma should lean more on the power of big data and AI to identify and target individuals who possess the greatest social capital and influence relevant to a given therapeutic area. The phrase “opinion leader” became popular after Paul Lazarsfeld and Elihu Katz wrote about it in their 1955 book Personal Influence: The Part Played …

Big data, AI and social media are the changing face of pharma marketing Read More »

It’s widely known by the pharmaceutical community that nearly nine out of ten drug candidates fail to win FDA approval, resulting in enormous drug development expenses every year. Less commonly understood is the underlying cause of these high failure rates, and what the pharmaceutical industry can do to overcome this challenge. Currently, in an effort …

How AI And Blockchain Can Revolutionize Pharmaceutical Trials Read More »

Many successful leaders agree that a company’s willingness to embrace and learn from failure can unlock innovation – and it’s a lesson the pharmaceutical industry would do well to learn. Take Jeff Bezos, for example. As the CEO of Amazon, he encourages designing bold experiments that may lead to failure. After Amazon acquired Whole Foods, …

To unlock innovation, pharma needs to be honest about failure Read More »

Gunjan Bhardwaj gives his opinion on how new technologies can help solve some of the problems in the pharma industry. The pharmaceutical industry today finds itself under a harsh spotlight as corruption accusations become increasingly prevalent. Though the vast majority of individual researchers, physicians, and other stakeholders involved in drug development have patients’ best interests …

How AI and blockchain can reduce corruption in Big Pharma Read More »

With the burgeoning advancement and adoption of advanced technologies such as artificial intelligence in various fields, there’s hope for a better future. These technologies are proving to be quite useful in solving various inefficiencies, particularly in the pharmaceutical sector. For instance, Innoplexus AG is one of the companies that are spearheading innovation in that field. …

AI and Blockchain Platform Set to Revolutionize Drug Discovery Read More »