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Article Blog Life Sciences March 14, 2022 3 minute read

The Marriage of Pharma and Tech

2022 Promises to Be Another Innovative Year

Saama has been leading the technological revolution in Pharma for years now, and according to The Big Tech In Pharma Report from CB Insights the world is trying to catch up. 

Since 2020, big tech has made nearly $22B in pharma-related acquisitions, focusing on opportunities in patient recruitment and monitoring, digital twins, digital biomarkers, online pharmacies, and other areas.

Decreasing ROI for drug R&D, the explosion in real-world evidence, and pharma’s digital transformation are driving big tech activity in pharma

 

Three main drivers are opening pharma’s eyes to the speed and quality advantages that technology can bring to life sciences:

Low ROI for drug R&D

Despite a small increase in 2020, the return on drug research and development has declined by more than 80% over the past decade. Technology like Saama’s Operations Insights and Clinical Insights can automate manual and error-prone processes so clinical studies can be completed faster and more affordably. 

Data volume, velocity, and complexity

According to the CB Insights report, the amount of patient data housed in clinical systems grew nearly 500% from 2016 to 2020. This ongoing data explosion, particularly when it comes to real-world evidence (RWE) from wearables and other digital solutions, offers tremendous insight-mining potential. Making sense of it all, however, requires sophisticated technology tools like Saama’s Smart Data Quality (used by Pfizer to deliver its COVID-19 vaccine in record time) and Smart Auto Mapper.  

Digital transformation initiatives

These were happening prior to 2020, but the pandemic accelerated pharma’s hunger for technological solutions that enabled increased productivity. Automation, AI, and analytics are here to stay, and pharma is at the tipping point of a full-scale adoption. In fact, at the end of 2021 a consortium of venture capital arms of pharma companies, including Amgen, Merck, Pfizer, and McKesson, joined an investment group that bet $430 million on Saama’s life sciences technologies. 

As other tech companies try to capitalize on the success Saama has already had in life sciences, we will continue to stay ahead of the pack through relentless innovation, a can-do spirit, and a deep understanding of what pharma and biotech companies need to achieve.

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