Knowledge in Pharma is expensive.
Hundreds of millions of dollars expensive.
No surprise new drugs cost so much, and many don’t make it to the market.
Laymen think that “finding a cure for cancer” depends on some kind of a genius scientist “finding it”.
The reality is that there are countless “cures for cancer”, and for many other diseases. The challenge is to sift them out from the infinite possibilities, find out which ones are safe and effective, and how to make them commercially.
In other words: gain knowledge. This is the expensive part.
And you would think that this knowledge would then be kept and managed as a precious treasure… Well… it’s not.
Much of it is lost amongst the dozens of service providers, consultants and former employees.
Some are fossilized in documents that accumulate dust in the cloud.
And only a portion makes it through to help us (and the regulator) make the risk-benefit decision at the end of the road.
In spite of all this lost knowledge- we still get many new drugs and innovations.
But think how much better we could do, and how much faster and cheaper new drugs could be, if we captured all this knowledge effectively and not let a drop of it go to waste- especially in a world that has AI and LLMs at every kid’s disposal.
The time is now.
Step up your Knowledge management game- one process at a time
The patients will thank you later.
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I help my clients get a grip on their knowledge assets and implement tools and procedures to keep their company’s knowledge at bay. Talk to me if you need help to get this started!