Data Analytics Audio Book
When you download the case study we’ll send you the audio book Data Analytics. Learn how you can use this intelligence to transform your business and gain insights into how managers can use data to drive their business.
Our client is a global, broad-based Life Sciences company devoted to discovering new medicines, new technologies and new ways to manage health. For more than 125 years, they’ve brought new products and technologies to the world — in nutrition, diagnostics, medical devices and branded generic pharmaceuticals. The company employees over 74,000 in more than 150 countries.
One of the greatest risks and cost contributors to the life sciences industry are recalls issued by the U.S. Food and Drug Administration. Whether you’re a consumer, health care organization or pharmaceutical company, recalls foster anxiety, create rapid cost overruns and impact consumer loyalty.
For example, when one drug was linked to fatalities and blamed for hundreds of allergic reactions recently, the manufacturer faced a class action lawsuit, millions of dollars in lost revenue, and plummeting consumer confidence that may never be regained. Recalls often result in wide scale manufacturing changes, decreases in drug potency, and modifications in dosing practices. Although most health experts champion these change because they believe they will make the recalled drugs safer, these scenarios cause extreme unease because they highlight uncertainty in the system, and they can devastate a pharmaceutical company.