Ontosight® – Biweekly NewsletterJune 17th – June 30th, 2024 –Read More
Ontosight® Newsletter Issue 3
Data Silos
Five Reasons to Embrace Data-Driven Drug Development
The growth of the pharmaceutical and biotechnology industry depends on successful clinical trials. The cost of developing a new drug that gets approval is estimated at around $2-3 billion. The longer the trial lasts and the more patients it has involved, the larger the loss. The researchers at Johns Hopkins Bloomberg School of Public Health …
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Why is Blockchain important to access unpublished data?
Today, blockchain technology applies to a variety of industries. The revolutionary technology that made virtual currency a possibility also enabled hyperledger and smart contracts. This offers an unprecedented opportunity to break down data silos in pharma and access unpublished data. Unpublished pharma data poses a limitation to successful drug development and increases the chance of …
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Why data monopoly in life sciences is not beneficial?
The pharma industry is one which is responsible for millions of lives. In 2018, the United States spent nearly 18% of GDP on healthcare. Moreover, the country spends more than U.S. $71 billion on Research & Development in pharma annually. According to statista, this figure is expected to increase to over 200 billion U.S. dollars …
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Breaking down data silos to revolutionize Pharmaceutical Industry
Science is, by its nature, a collaborative discipline. Connecting the dots through data exchange and the analysis of large amounts of data, especially in the life science industry, can make a revolutionary difference in drug research and innovation. It can benefit the pharmaceuticals industry with better research, faster drug development, and lower costs. However, data …
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