This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Glaxo, Wyeth Cut Costs With Trial Software

Stocks in this article: GSK WYE

SAN FRANCISCO ( TheStreet) -- With the click of a mouse, pharmaceutical companies including GlaxoSmithKline (GSK - Get Report) and Wyeth (WYE) save billions of dollars running clinical drug trials using software from DecisionView, a San Francisco-based startup.

Three of 10 marketed drugs produce revenue that exceeds the $1.1 billion in average development costs, according to the Tufts Center for the Study of Drug Development. Alex Lancksweert, director of Business Performance Analytics at GlaxoSmithKline, said DecisionView's predictive analytics has enabled the drugmaker to double the frequency with which trials are completed on time. GlaxoSmithKline has 150 trials in progress.

DecisionView helps pharmaceutical companies track trials across global teams, forecasts and models scenarios, and automates patient recruitment. The software can be hosted on a client's Web site or by DecisionView. The company is supported by Adobe's (ADBE) venture-capital arm, Granite Ventures and Aeris Capital.

"Patient enrollment is one of the most promising areas for pharmaceutical companies for operational performance improvements," said Alan Louie, research director at market-research firm IDC. "The ability to capture, analyze and leverage historical trial enrollment data in planning patient recruitment efforts provides a critical baseline that life-sciences organizations need to benchmark and improve these processes."

A third of trials fail because companies can't recruit enough subjects. Trials cost $5,000 to $35,000 a day to run.

GlaxoSmithKline's Lancksweert detailed one Phase III trial for a cardiovascular drug that was completed recently. He said it was complex, involving 15,000 patients in 35 countries at 700 trial sites. Using the software saved two days a week compiling reports, allowing a weekly status report of the trial to be generated for the entire organization almost instantaneously. That enabled deviations to be identified and problems addressed. The trial ultimately was completed six months ahead of schedule, saving GlaxoSmithKline an estimated $6 million.

DecisionView's software is being used by four of the 10 major global pharmaceutical companies, according to Chief Executive Officer Jim Scullion.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,583.95 -88.65 -0.50%
S&P 500 2,049.98 -1.84 -0.09%
NASDAQ 4,751.5820 -6.2970 -0.13%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs