With cost-reduction pressures on one the one hand and dwindling safety talent on the other, there is a need to rethink traditional Pharmacovigilance (PV) strategies. As pharmaceutical companies step up their global PV transformation strategies, more effective PV processes are required, supported by robust technology, including cloud-based solutions, mobile applications, robotic automation, artificial intelligence (AI) and big data analytics, translating into smarter (but not necessarily higher) spend for PV activities.
Technology solutions are already a vital cog in safety operations in the pharmaceutical industry, given their strategic role in worldwide PV systems. While this notion of technology as an enabler to transformation carries across all areas of product development, it is evident that applying innovative technology automation tools and processes to pharmacovigilance is no longer an option but a must have. Companies that recognize the importance of integrating newer, disruptive technologies and use these to fundamentally alter the drug safety continuum will see greater success in managing the safety of their products.
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