Enterprise Project Collaboration - The starring role it can play in driving down costs of drug development and commercialization

A shift from traditional project management practices, EPC is designed to accelerate drugs to market

Life sciences companies still operate in the dark ages in many ways when it comes to technology. Even as the industry pivots away from blockbusters to develop advanced, specialized medicines (Express Scripts says specialty meds will account for half of all drug spend in 2018), the technology supporting this ground-breaking work is anything but cutting edge. Many organizations are frustrated with this paradox, yet still rely heavily on legacy software to manage the intricacies of drug development and commercialization. Hoping to streamline processes, companies of every size continue to tack on off -the-shelf software to old ERP systems. Instead of simplifying tasks, these multiple and unrelated applications increase the burden and costs while adding confusion that reduces teams’ speed of execution. As a result, incredible inefficiency pervades, delaying the introduction of new therapies to market.