Nilesh Gharge

Time and resources available for any Pharma R&D effort contributes significantly towards overall R&D budget. In fact, the R&D costs across the industry have seen an incremental growth increasing over time, rising to billions of USD for one new molecule being introduced in the market.

Ever wondered why even with so much of progress in the internet/social media world the Pharmaceutical industry does not pull out its benefits from the same!

In a scenario where the source of information and an end user (researcher) can interact on one single platform, it can be realm of knowledge sharing to solve complex research problems .This in turn can help reduce the time spent on research in laboratory resulting in quicker drug development and reduce the cost burden due to time delays. Moreover, it will help build a community of researchers who can demonstrate their knowledge strength to the world. Additionally, such a platform can also become the basis of the supply chain management between the molecule provider (chemical industry) and buyer (pharmaceutical industry).

Out of millions of disease there are some rare conditions which are hard to find cure. Social Media provides platform to patients, to share their experiences and seek support. Hence pharma companies will leverage power of Digital Marketing technique in rare disease drug development.   Here is Life Sciences latest Thought Leadership Blog : " Exploring Social Media Marketing for Orphan Drug Development" - How Social Media will engage patients beyond Clinical Trials.