The Life Science Industry is Like No Other
From R&D tax credits to the high risk of innovation to decades long product life cycles, the life science industry is like no other.
The life sciences industry is comprised of Pharmaceutical, Biotech, Medical Device and Diagnostic companies. Within each of these market segments is further fragmentation. For example within the Biotech industry segment, the various business models often seen include: R&D companies, product based commercial companies, virtual development, R&D grant funded, collaborator funded, and of course public and private.
The industry is further defined by high regulation, long product life cycles, high cost of innovation, high risk, high profitability yet sometimes no profitability. In fact of the approximate 4000 US based Pharmaceutical and Biotech companies, only a small proportion have product sales and bottom line profits. The rest of the industry is busily innovating and heavily investing in R&D. However, since the promise of profitability is so high, investment funds regularly flow into this industry from Angel investors, private equity investors, Venture Capitalists, collaborations, government grants and public investors.
Due to the high cost in innovation and the lengthy product life cycles, managing an R&D intensive business in this industry requires a complex management challenge. Specifically, how to create an environment of creativity and innovation while keeping an eye on the bottom line. In other words, in this nonacademic environment, what is the proper balance between science and business!
When it comes to managing the business of R&D, partnering with a company as unique as the industry can be the key to success. R&D Logic is the only software company focused on the business of R&D. This unique vertical market approach aligns R&D Logic approach to the life science industry priorities. Their customers form a life sciences customer community where thoughts and challenges can be shared. R&D Logic has in depth knowledge of the unique industry characteristic and challenges and has embedded R&D specific methodologies into their software. Throughout our offerings, the focus is on the “4th dimension” - a scientific focus relevant for planning and tracking and quantitative decision making.
Scenario based implementation strategies support multiple and varied business models, the "On-Demand" technology allows access to specific features and function, automation and integration is key for efficiency. The 4th dimension is always at the core for portfolio prioritization, analysis, decision support, allocating, burdening, and even calculating the ROI of R&D.
This solution is designed to be project/activity centric. With the project dimension you gain access to built-in project intelligence that combines two management frameworks: project, activity or portfolio view and corporate or organizational view.
R&D logic integrates two different management frameworks into a single information platform. Information is processed both as portfolio activities over time, which is how science manages R&D, and based on Corporate structure, which is required for business analysis and planning.
A unique industry needs unique partners. Learn more about R&D Logic and how they put their industry knowledge and expertise to work for you.