Pharmaceutical organizations have many opportunities to drive value using real world evidence (RWE) across the development and commercialization lifecycle. When they incorporate real world data sources into their overall development plan, they can accelerate recruiting, support single-arm trials, enhance regulatory submissions, and demonstrate real world effectiveness post-launch. All of this can lead to significant time and cost savings, while improving the patient experience.
IQVIA’s experience of working with RWE has indicated that:
IQVIA has seen the positive impact of these studies across our clients’ drug development programs. In one example, a large pharma company asked IQVIA to review its late-phase portfolio to identify opportunities where RWE could generate efficiencies. After evaluating each study based on its location(s), purpose, design freedom, and use of secondary data, our experts determined that RWE-based design changes could generate 15% in overall savings, with some studies projecting a ~40% savings through the use of RWE. That translated to millions of dollars in potential savings.
However, such benefits can only be achieved if pharma companies establish an RWE strategy early in the drug development lifecycle, and incorporate insights from across business functions as they build their plan. This collaborative approach is vital to avoiding the siloed decision-making that often gets in the way of innovative RWE strategies.
Whether you are building an RWE strategy for a particular project, or as a baseline approach for the entire organization, these six steps will give you a roadmap for success.
IQVIA can help you analyze and understand the ever-expanding ecosystem of clinically-rich data in the context of your organization’s needs. By combining advanced analytics with unparalleled data and scientific expertise, IQVIA provides customers with innovative Real World Evidence approaches to meet stakeholder needs throughout the product lifecycle.
To learn more about how to create an effective RWE strategy, including innovative design models, and technologies to accelerate results, contact us, or listen to the IQVIA webinar, Real World Evidence Strategy for Specific Therapy Areas.