The number of blockbuster drugs and products launched by pharmaceutical, biotechnology and medical device industries continues to shrink. Small and large companies are realizing the need to get their compounds and/or devices through the development pipeline efficiently in order to capture the market share. This has forced companies to examine their compound portfolios and make strategic decisions based on whether or not to out-license a compound (or device) or find an alliance partner for co-development. Some companies may focus on developing the compound for select international markets, while out-licensing a compound for use in other international areas where a partner may be better positioned to develop and launch that product.
Organizations often create alliances with partner companies, either through pharmaceutical product licensing or co-development, leading to faster ROI and greater success globally.
Thus far, the management of these collaborative partnerships has been a challenge. Sharing the necessary documentation through "snail mail" or email is slow, costly and a risk to security. To eliminate many of these costs and bring about greater efficiency, TransPerfect has developed Trial Interactive: the world's only clinical trial interactive solution specifically designed to meet the needs of life sciences organizations. Now, companies that are participating in licensing activities can securely share confidential product development information through an easy-to-use, web-based platform.