Counterfeit drug sales account for about $75 billion in global sales, according to the National Association of Boards of Pharmacy. An estimated one to two percent of drugs in North America are counterfeit, according to the group’s website. This is a major challenge for legitimate pharmaceutical companies to analyze.
While pharmaceutical companies want to help law enforcement ensure that the medicines available on the market are high quality, legitimate drugs, many simply cannot. This is because most pharmaceutical companies lack the ability to access and analyze their large data stores. With growing amounts of structured data in case management and document management systems and unstructured data in email and daily situation reports, pharmaceutical companies are challenged to combat counterfeiters.
At the same time, pharmaceutical companies need to reduce the time and cost of getting their products through the development, trial, and approval stages. Using pharmaceutical data analysis, companies can now have the right information readily accessible from a variety of data stores, which reduces time to market and delivers significant competitive advantage.
Discovering Knowledge with Chiliad Discovery/Alert
Chiliad Discovery/Alert enables pharmaceutical companies to discover knowledge within raw data of virtually any format—in any location—making it readily available where and when it is needed. Our product enables the virtual integration and analysis of multiple data sources to support insight into product performance, segmentation, competitor information and product synergies.
Chiliad Discovery/Alert™ Key Applications and Benefits:
- Optimizes testing and clinical trial analysis
- Accelerates product development cycles
- Enables thorough risk analysis
- Improves compliance with government and industry regulations
- Enables cooperative collaboration
- Reduces duplicate exploration
- Reduces access time to internal & external knowledge
- Offers Intellectual Property (IP) protection