This in turn can free up much needed cash to be reinvested into digital initiatives. ĭave comments: “As companies merge, it is invaluable for them to gain full visibility of their sprawling estates and the legacy of complex communications networks. TEM allows companies to map their existing communications expenditure and save up to 40 per cent of their current costs. Īs the prospect of cost savings excites the minds of business leaders operating in the sector, pharmaceutical companies are looking for new avenues to free up budget and deliver game-changing healthcare solutions faster, according to Dave Locke, EMEA Chief Technology Officer at World Wide Technology. An area attracting growing attention from the sector is Telecom Expense Management (TEM). Drugs typically take 12 years from the initial discovery stage until they are market ready, with the estimated cost of £1.15 billion per drug, and only 1 in 5000 medicines making it to the market. #Seekfast licence key driversThe key drivers behind the latest round of mergers and acquisitions activity stem from the pressure to cut costs and achieve greater economies of scale combined with the ever-increasing cost of drug development and the mounting pressure to innovate faster. This year has already witnessed its first ‘super merger’ between two of the world’s largest pharmaceutical companies, Bristol-Myers and Celgene, valued at $74 billion The pharmaceutical industry is preparing for an accelerated pace of consolidation, with the number of mergers up 39 per cent since 2017.
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