Veeva Commercial Summit: Increased investment in medical affairs by pharma companies
Veeva’s VP of global medical, Christoph Bug, emphasises the importance of scientific exchange between clinical experts and pharmaceutical companies. Pharmaceutical companies are always looking to increase the efficiency of clinical trials, and now many of these companies are looking at medical affairs team to improve these operations, according to Veeva’s VP of global medical, Christoph Bug.
In an interview at the 2024 Veeva Commercial Summit taking place from 19-21 November in Madrid, Bug noted that the medical affairs team can help improve trial efficiency in a variety of ways such as new investigators and trial sites, help improve trial communications and/or identify patient recruitment challenges.
Low accrual remain the leading cause of trial termination, as per a GlobalData analysis that found that only about 10% of clinical trial resulted in approved drug. One of the reasons for lack of recruitment can be recruiting the principal investigators (PIs) and sites without the patient population required for the study.
Bug also noted that there is an increased emphasis on scientific dialogue between clinical experts and pharmaceutical companies, as this can drive therapy adoption. He quoted a Veeva survey of 100 key opinion leaders (KOLs) in non-surgical oncology worldwide which found that 94% believe that scientific exchange between clinical experts and pharmaceutical companies is becoming more important.
He addedthat KOLs are interested in having a scientific exchange with a knowledgeable representative for a therapy before prescribing it to the patients. “KOLs want to discuss the clinical trial data, how the company is interpreting this,” said Bug.
Prescribing physicians are now also wanting regular and intimate communication with the pharmaceutical companies, especially if they are prescribing the drug for the first time to answer any questions including on patient co-morbidity, and adverse events, said Bug. Adding that this intimate communication is enabled by technology.
Artificial intelligence is expected to become a key driver of medical device innovation, according to a GlobalData thematic intelligence report. The AI in medical market was worth $336m in 2022 and is expected to grow at a compound annual growth rate of 29.1% to $1.2bn by 2027.
