Bank on IT

With drug sales continuing to decline, pharmaceutical companies are pinching their pennies and closely picking and choosing what areas they should invest in. Unfortunately, infrastructure technology is one of the more expensive areas, and also one of the first to be scaled back. Pharm Exec reached o...

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Bibliographic Details
Published in:Pharmaceutical Executive 2009-05, Vol.29 (5), p.97
Main Author: Koroneos, George
Format: Article
Language:English
Subjects:
Cost control
Cost reduction
Customer services
Executives
Guidelines
Information technology
Infrastructure
Life sciences
Manufacturing
Organizational change
Performance management
Pharmaceutical industry
Planning
Software
Supply chains
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Summary:With drug sales continuing to decline, pharmaceutical companies are pinching their pennies and closely picking and choosing what areas they should invest in. Unfortunately, infrastructure technology is one of the more expensive areas, and also one of the first to be scaled back. Pharm Exec reached out to some of the biggest players in IT to find out what advice they're giving to life sciences firms that are more interested in investing in dollars and cents than ones and zeroes. Mike Naimoli, director, US Life Sciences, Microsoft, Health Solutions Group, said pharmaceutical companies should consider an elastic service in which customers pay for computational services when they need it. James Macdonell, VP and Head of Delivery, Patni Life Sciences Practice, said the most effective way for life sciences companies to manage the high costs of IT is to generate more value out of the systems they operate.
ISSN:0279-6570
2150-735X