Artificial Intelligence is a rising star - meteoric, actually - in most industries, including pharma. But, do you really know how pharma AI can affect your business?
According to an EvaluatePharma study, two-thirds of all drug launches failed to meet pre-launch expectations in sales their first year on the market.
More importantly, for one-third of the drugs that met their year-one target, 65 percent continued market growth in year two, and 53 percent exceeded goals for year-three.
The pharma industry is undergoing a transformation that's largely being driven by innovation. Innovation not just in products, but also in the way business is conducted, resources are mobilized, and the benefits that the end user experiences.
"Holistic innovation is what Pharma 3.0 is about," says an EY research.
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