As the R&D life sciences environment is getting extremely challenging and complex than it has ever been, Patent Management has further more significance. Shrinking market exclusivity, decreased R&D productivity, price pressures, patent expiry, competition from generics, and sales and marketing inefficiencies are forcing a re-think on life sciences business strategies. The companies that attain success will be those that manage the process from drug discovery through to marketing with optimal efficiency, speedy decision-making and customer focus.

Where knowledge and creativity powers today’s economy, intellectual property is a significant corporate asset for life sciences companies. The importance of patents to innovations cannot be understated – it takes upwards of USD 500 million to discover, develop, and gain regulatory approval for a new drug. The absence of patent protection could allow imitators to produce generic compounds of drugs for a fraction of your – the innovator’s – cost. With EDC’s Patent Portfolio Management, patent departments within life sciences organizations can search, organize, analyze patent information and get patents submission-ready as quickly as possible.