New drug development, especially vaccines, is considered high-risk and expensive. As per a recent report, the cost of developing a vaccine is estimated to be between $200 million and $500 million per vaccine and usually takes more than ten years to reach the market.1 Many promising treatments fail to get approval and do not reach the markets. Even the current COVID-19 related accelerated vaccine studies fraught with safety and efficacy associated concerns. As of September 25, 20202, there are about 240 vaccines in early-stage, 40 vaccines are in clinical trials, and only nine in the final stage of humans testing.
Given the high-risk and the investment, life sciences organizations need well-planned commercial launches to make the product successful in the market. To achieve commercial success, they need a robust commercial data environment and analytics capabilities to make informed business decisions and realize its true potentials.
Axtria brought its deep expertise in commercial data management and analytics and enabled self-service analytics for a newly launched vaccine.
The impact generated for the client:
Significant reduction in the data processing efforts of the analytics team
Acceleration in the process of executing analytics use-cases for faster insights
Faster turnaround time for deliverables
Trusted customer Data and sales performance tracking
Higher quality of data for analytics
Read this illustration to know how Axtria engaged with a biopharma company and helped implement a commercial data environment and self-service analytics enabled by Axtria DataMAx™.
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