Business Trends: Pharmaceutical Technology - Understanding your Life Science Customer (Customer Focus)

This Datamonitor study examines top business challenges, IT budget outlook, and spending priorities among pharmaceutical and biotechnology companies in the US, Canada, the UK, France, Germany, Japan, China and India. It is based on the results of Datamonitor's Business Trends primary research, conducted in Q3 and Q4 2008, with a total of 150 life science companies.

Report Highlights
Companies in the life science industry must build and maintain their product pipeline replace those drugs coming off patent so that companies can compete with generic drug manufacturers. To achieve this, companies are beginning to change their business models, albeit slow, and are investing more money into technology solutions.

IT budgets of most pharmaceutical and biotechnology companies will remain flat or increase in 2008. The current economic downturn will greatly impact the adoption of IT within the life sciences. Large organizations will look to adopt technologies to streamline back-end operations as well as help support a depleted workforce.

India and China strive to be a global leader in the pharmaceutical and biotechnology industry, and recognize that adopting IT solutions will play a large role in achieving this goal. Both these countries represent great opportunities for IT vendors.
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