A Technology Revolution
The pharmaceutical industry spends about $20 billion a year on IT, but rarely reaps the full rewards of the investment, according to a report by IBM Business Consulting Services. The scale of pharma’ s IT expenditure is not a problem, as long as it delivers a positive return on investment. Yet few pharmaceutical companies can claim to have realized the full benefits of the money they have spent, according to IBM. IBM has predicted that seven key technologies will revolutionize the pharmaceutical industry by 2010 by reducing drug-development costs by 75% and cutting lead times by nine years.
PharmaVOICE asked if technologies that were once considered to belong in the realm of science fiction can become the silicon reality?
Lee Jones, President and CEO, Essential Group Inc.