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Verix for the Biopharmaceutical Industry

Industry tracking reports reveal that the total US sales growth rate for the Pharmaceutical market is at its lowest in 5 years (YTY 4% in 2007 down from 9% in 2003) and that there is a decline in US Dispensed Prescription Growth (down to 3% in 2007).  Within these trends, Biopharmaceutical companies are facing a more turbulent time than ever before and are increasingly challenged to manage performance due to -

Given these challenges, biopharmaceutical companies are under increasing pressure to precisely focus their sales efforts while maintaining the flexibility to adapt to changes in their market in real-time.

As these changes take shape in the emerging market environment, the reliance on traditional Top Physician or Decile-driven approaches to targeting and understanding business progress are no longer sufficient to meet the needs of a more hyper-competitive market place.  Biopharmaceutical companies are realizing the need to proactively identify emerging opportunities and threats earlier and in greater detail in order to increase their overall sales performance and ROI.

However, wading through the increasing amounts of data early enough and accurately enough to respond to them effectively, is often not efficient using traditional data mining or business intelligence tools.  Biopharmaceutical companies require more intelligent measurement and monitoring solutions that can provide more granular tools to highlight market threats in a time frame where they can be addressed and also underscore business opportunities earlier.

Verix has a proven track record in assisting all sizes of Biopharmaceutical companies to maximize their sales and marketing performance allowing them to - 

This is achieved by -

Verix transforms the way Biopharmaceutical companies consume information and manage performance by enabling them to keep up with the complexity of the market place through - 

Automated exhaustive analysis that would not be practical otherwise

The Verix Automated Analytics Suite automatically analyzes external pharmaceutical industry sources such as data from IMS®, Verispan®, and Wolters Kluwer® as well as internal data such as precsribing reports, managed care summaries and sampling reports.

Automatic detection and alerting of meaningful, and often hidden, business trends, changes, opportunities and threats

The Verix IP enables our Automated Analytics Suite to identify trends automatically and earlier than other solutions allowing sales and marketing executives to make more accurate decisions and respond dynamically to changes and emerging trends as early as possible while they can still be replicated or changed accordingly.

Automated segmentation of key drivers of change with no definition required

The Verix Automated Analytics Suite automatically scans all the data in the system and using sophisticated algorithms teaches itself to identify emerging segments displaying similar behavior over time.  These segments are identified at the most granular level (for example highest-value Physicians, Physicians displaying similar prescribing behavior, a specific geography lagging behind its peers in Rxing) and can be directly leveraged to allocate sales resources, define messages and ensure sales efforts are focused and maximized at all times.

Tracking, monitoring and gaining insights on success/failure of drugs at any stage of their lifecycle

The Verix Automated Analytics Suite goes further than existing solutions by arming executives with a comprehensive explanation of why each change or emerging trend occured, providing the insight needed to create and implement the most relevant responses.  Executives can track and monitor products and their success/failure in the market and replicate/alter the marketing campaigns accordingly. Verix enables executives to react confidently to changes in their business knowing that they are equipped with the full picture and not just a mere fraction of it.

Simply sharing insights with collegaues to stay aligned

With the click of a button your insights and analysis can be shared with colleagues in an Excel or Powerpoint format to ensure sales and marketing efforts are aligned and that priorities have been set accordingly.

The Verix Automated Analytics Suite, enables Bopharmaceutical companies to identify business opportunities and challenges as they emerge, with visibility into key drivers and segments, and to understand their overall impact on the business, when it is still early enough for them to take proactive corrective action. By automatically highlighting significant business drivers and explaining their context and potential impact in relation to the market landscape, Verix enables businesses to become more responsive and ultimately more profitable.