How Data Analytics protects Intellectual Property rights

Summary:

The Pharmaceutical Industry deals with enormous amounts of data and this is also very complex. This volume as well as complexity of data is very challenging in the Pharma industry. Data analytics and data mining allowsPharma firms to drill down and analyze data to maximize opportunities and reduce costs of drug research and discovery.

One of the important use cases or usage scenario for implementing Data Analytics in the Pharmaceutical Industry is the ability to be able to mine data from Patent records across the world using a combination of keywords.

Pharma Industry and the Data challenge:

Pharma companies use information on bioactive chemical structures for stable compounds for new drug discovery. Every possible such chemically stable compound which has the potential to be used for any kind of drug has to get patented in order to prevent any infringement of IPR. Pharma companies across the globe spend a significant amount of effort in R&D to come up with better, more effective drugs with lesser side effects for the increasingly complex or newly uncovered diseases which are constantly evolving with time.

It is vital for them to be able to find out if the time and money they are spending on any new drug has been already discovered by some other company in any other remote part of the globe. If there is duplication of the compound structure the company is liable to pay heavy penalties and/or royalties. Besides the entire money spend on drug research and discovery is wasted.

Data Analytics and data mining solution protects IPR:

Data Analytics providers for the (https://www.incedoinc.com/lifesciences) Pharma Data Analytics Industry are well aware of this challenge and all software solutions take into account the importance of having an accurate yet exhaustive data mining capability which can scan and scavenge the various patent databases and relevant literature across the globe to look for possible patents. The data mining solution uses a combination of key words which are possibly the ones on which the chemical structures of the compounds are based to come to a conclusion if the research has been implemented by other firms or competition. This feature has to be at the core of the data analytics engine providing big data capabilities for the Pharma industry.

(https://www.incedoinc.com/whoweare) IncedoInc — an IT services firm with expertise in the Pharma industry has provided various Data Analytics solutions for clients across the globe. To take asimple Data Analytics example: a company has the target to find a cure for common cold with minimal side effects especially for children. Researchers include various additional parameters like how an area which has more pollen / area with more humidity / area with extreme climates, affect the effectiveness of the drug being consumed. The researchers will be to able create a range of possible chemicals which should be used to solve the problem. Next is the aspect of trying to figure out the right combination of those chemicals through a series of chemical reactions to produce a bioactive chemically stable compound which acts on the physical condition with minimal side effects.

To check whether these initially shortlisted chemicals can be used for discovering a new drug, the Data mining solution needs to start scanning all the possible databases globally for patents, journals, research papers, academic articles, blogs and other information available on the web. This is important to check if the same direction is being taken by competitors around the world in the same field.

Data analytics solution for Pharma companies can offer valuable insights at each stage of the research process and help save time, money and effort. The core engine in the Data Analytics offering which is able to effectively scan the global databases has to be intelligent enough to figure out how to make the best use of keywords on which the search is based. This will make the solution stand out from the competition and will be one of the critical factors on which the product will be evaluated.

Author Bio:

(https://www.incedoinc.com/workatincedo) Incedo Inc.has domain expertise in the Life Sciences space. Incedo’s Life Sciences Centre of Excellence is staffed with domain experts with an average of 9 or more years of experience.Incedo has executed various Data Management and Data Analytics solutions for the(https://www.incedoinc.com/lifesciences) MDM in Pharma Industry.