MedidataVoice: The Payoff Of Focus: Innovation And The Vertical Cloud Model

“The life science industry is in the midst of massive transformation, and the vertical cloud model – as in other industries – is uniquely positioned to help stimulate innovation and shape how the market evolves. For pharmaceutical companies, what’s at stake is the $100 billion spent on drug development and the estimated $45 billion spent on IT annually. Each new molecular entity costs at least $4 billion, according to the InnoThink Center for Research In Biomedical Innovation. These are substantial resources being deployed to generate new medicines, yet success rates are not high considering the number of new drug approvals by FDA.”

Source: www.forbes.com

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