REDWOOD SHORES, Calif., March 22,
2018 /PRNewswire/ -- New research conducted in
partnership with Informa Engage / Pharma Intelligence reveals that
62% of drug safety experts have implemented or plan to implement
Artificial Intelligence (AI) to improve adverse event processing.
The findings point to an industry-wide push for a faster, more
accurate, and more secure approach to pharmacovigilance using new
technologies.
The success of pharmacovigilance efforts hinges on the ability
to spot risks early, manage them effectively, and comply with
increasingly complex regulations. Drug safety teams view AI as a
means to achieve this, and have already begun to explore its
potential:
- 27% have or plan to implement AI for quality assurance
- 23% have or plan to implement AI for follow-up processing
- 19% have or plan to implement AI for faster reporting
Andrea Charles, Editor, Custom
Content, Informa Pharma Intelligence said, "Safety teams are under
immense pressure to work quickly and accurately, but their biggest
concerns are patient safety and the protection of their data. They
need a robust approach to pharmacovigilance that allows them to
work faster while maintaining a high standard of accuracy and
security, which is why they are replacing and enhancing their
systems with advanced technologies that are fit for the job."
The research also reveals an industry-wide shift towards
cloud-based systems to improve security. Almost 60% of respondents
already have safety solutions in the cloud or are planning to move
there within the next two years.
Bruce Palsulich, VP of safety
product strategy for Oracle Health Sciences, said, "With the
increase in adverse events reported, and the flat growth in
resources to manage safety case processing, pharmacovigilance teams
are under extreme pressure to do more with less. Fortunately,
adverse event processing is becoming faster and smarter with the
help of AI and the cloud. Both technologies are helping drug safety
experts to improve quality and accuracy in the handling of the data
they work with, and drive down their reporting costs. The time is
ripe for wider adoption, and it's encouraging to see the industry
embrace new ways of working that will benefit them and the
public."
For this study, data was gathered from 153 professionals
(director level and above) with titles including regulatory
affairs, risk management, head of pharmacovigilance and adverse
event case reporting, within pharmaceutical companies, CROs and
sponsors from around the globe (North
America, Europe,
Asia Pacific, South America, Middle East and Africa). The data was gathered from
November 2017 to December 2017.
On 22 March 2018 at 11:00 a.m. ET, Oracle Health Sciences and Pharma
Intelligence will host a webcast to explore these trends in detail.
Experts from both organizations will outline the forces behind the
uptake of AI and cloud-based systems in the drug safety sector, and
share insight into how these technologies will improve
pharmacovigilance efforts. Click here for more information and to
register for the live webcast.
Additional Resources
- Oracle Argus Safety
- Download the Whitepaper
About Oracle
The Oracle Cloud offers complete SaaS
application suites for ERP, HCM and CX, plus best-in-class database
Platform as a Service (PaaS) and Infrastructure as a
Service (IaaS) from data centers throughout the Americas,
Europe, and Asia. For more information about Oracle
(NYSE:ORCL), please visit us at oracle.com.
About Oracle Health Sciences
Oracle Health Sciences
breaks down barriers and opens new pathways to unify people and
processes, helping to bring new drugs to market faster. As the
number one vendor in Life Sciences (IDC, 2017) and the number one
provider of eClinical solutions (Everest Group, 2017), powered by
the number one data management technology in the world (Gartner,
2017), Oracle Health Sciences is trusted by 29 of the top 30
pharma, 10 of the top 10 biotech, and 10 of the top 10 CROs for
clinical trial and safety management around the globe.
About Pharma Intelligence
Informa Pharma Intelligence
powers a full suite of analysis products - Datamonitor Healthcare,
Sitetrove, Trialtrove, Pharmaprojects, Medtrack, Biomedtracker,
Scrip, Pink Sheet and In Vivo – to deliver the data needed by the
pharmaceutical and biomedical industry to make decisions and create
real-world opportunities for growth. With more than 500 analysts
keeping their fingers on the pulse of the industry, no key disease,
clinical trial, drug approval or R&D project isn't covered
through the breadth and depth of data available to customers. For
more information visit pharmaintelligence.informa.com.
About Informa Engage
Informa Engage is the marketing
research arm for Informa Pharma Intelligence. We connect marketers
with B2B decision makers. By combining unrivaled
reach, deep knowledge of specialist markets and sophisticated
marketing, we engage buyers – activating real results for
marketers.
Trademarks
Oracle and Java are registered trademarks
of Oracle and/or its affiliates. Other names may be trademarks of
their respective owners.
View original content with
multimedia:http://www.prnewswire.com/news-releases/more-than-60-of-drug-safety-experts-plan-to-use-ai-to-improve-the-speed-and-security-of-adverse-event-case-processing-300616957.html
SOURCE Oracle