SMS-based Drug Authentication Services Succor in Tracing Counterfeits
There is a lot of talk about how the technology trends facing pharmaceutical industries are transforming the market place and reshaping the business strategies. Pharmaceutical companies are slowly getting to the grips with new and agile technologies to reduce IT cost and improve scalability. Companies today experience the explosion in types and volumes of data and strive to have soaring growth in sales. Rising competition, growing health care strategies and many other challenges have found technology as the fundamental component to overcome those challenges.
Data in a pharmaceutical industry can be sourced from various points extending from R&D process to the health care providers. Having data that is consistent, reliable and aggregated is one of the major challenges faced by pharmaceutical industries today. The base upon which the value-adding analytics are constructed is in the data. Big data tools help the pharmaceutical companies to efficiently utilize the data to gain useful insights, indentify new potential drug candidates, and bring them in to the market faster.
Context based service has managed to garner the interest of several industries in the recent times. Adhering to this approach, the pharmaceutical industries are able to connect directly to the patients by collecting patient’s data “at source “through remotely controlled devices such as a Smartphone app or a biosensor. This type of data could be used to enhance the way of progress for R&D, evaluate drug efficacy, boost future drug sales, and create up-to-the-minute economic models that combines the provision of drugs and services. Lupin Ltd has also gone down this route; with a cost-effective SMS-based drug authentication service which allows customers to verify that the products they are buying is unadulterated.
With the proliferation of smart phones, laptops and tablets, and the use of information and various applications on the cloud, organizations have a lot to bundle up in terms of where their vital information is going. When it comes to breaches; social media builds up the risk of regulatory implications as it is liable for making sensitive information visible in public forums. Furthermore, the mobile technology can be sourced as a platform for data leakage as mobile devices are fundamentally remote of the enterprise network. However, organizations are bolstering their security assessments by reinforcing the Information Security program, which includes policies, awareness and necessary technology controls before initiating the migration of data to the cloud.
The transformational power of big data, enterprise mobility solutions and cloud based services is giving the life science and pharmaceutical companies a platform to ramp up a cost effective business model. By embracing mobility and analytics, pharmaceutical sector will be able to boost the effectiveness of sales force and small- scale R&D applications in the near future. Moreover, the stringent regulatory environment of cloud is gradually turning the tide of declining success rates and security breaches.