Real-time data insights help both pharma companies and contract manufacturers meet regulatory requirements while ensuring high production standards. Pharmaceutical companies are locked in a perpetual race against time. Although patents can provide a company intellectual property protection for twenty years or more, twelve years or more of that time will be spent turning the ideas embedded in an individual patent to a marketing product, leaving only a few years to recover the often billions spent in development. Industry experts estimate that it costs $2.5 billion to bring a new treatment to market. Not only that, pharmaceutical companies lose $1 million a day in potential revenue for every day spent in the development or regulatory approval process. Only one in 5,000 molecules created gets commercialized. The production process is time-intensive and lead times can last 365 days, 228 of which are dedicated to drug substance production, 75 to drug product formulation and 41 to packaging. Inventories, including the time spent on storing raw materials, intermediates or at in-transit distribution centers, can last 250 days. Can those times be reduced? Yes. A substantial portion of the time, materials are simply waiting around like passengers on a delayed flight.

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• Manufacturing

• Contract Pharma

• 5/1/2019

• Article