Monday, February 25, 2013

Transparency is benefiting Pharma Industry as it reveals more about R&D

In a recent article at Forbes, they point out that while the perception of the Pharma industry is hard to change in the minds of the public, Wall Street Analysts have actually pushed the industry into a new frontier where R&D pipelines are revealed and it can be easily observed whether or not a clinical trial has gone successfully. These cases usually get more attention than the many trials that succeed.

Forbes writer John LaMattina recently attended a talk where this was the case:
Last week, I attended Dr. Ben Goldacre’s talk at the New York City Skeptics Society where he expressed his concern about pharmaceutical companies hiding negative trial data. I fear that the audience left that session with the view that the pharmaceutical industry does all it can to hide negative data and touts only positive studies. Given the scrutiny that the industry now undergoes by regulatory agencies, patient advocacy groups, physicians, Wall Street analysts and the media, hiding negative trial data is next to impossible.

So, with all this information available the public still remains skeptical. But much like the R&D pipelines are now transparent, so should the relationships be between all partners who are involved in clinical trials.  This year at Partnerships in Clinical Trials, there is a full day dedicated Cost and Contract Management where Merge eClinical and Medtronic will be speaking on Leveraging Technology to Create Efficiency When Contracting with Third Party Vendors where they identify how technology helps create a more transparent partnership during the contracting process.  If you'd like to know more about this session and the rest of the agenda, download the brochure.  As a reader of this blog, when you register to join us and mention code XP1800BLOG, you'll save 15% off the standard rate.  

What do you see as the top benefit of the clinical trials process becoming more transparent?

1 comment:

Adil Mufti said...

Ttis is Verum-Venture Clinical Research Ltd, JV of Verum GmbH in Pakistan .
Greater transparency in clincian trial results can ensured by seeing that a CRO has a ethic committee with strong outsider as members. Investigation site should have a ethic committee with strong outsiders as members, Regulatory agency (MOH ) should have ethical committee which regularly review the results
Dr A S Mufti ( )