It's been a busy week in the world of pharmacovigilance software. Major players are being acquired, new players are coming into the market, and there is more and more talk of the "next generation of PV" emerging.
First, this week it was the Wall Street Journal reporting that Nordic Capital has agreed to purchase a majority stake in ArisGlobal at a valuation of ~$700 million. On the heels of Medidata being acquired by Dassault Systemes, the WSJ opines that both deals are bets on the "...increasing adoption of software by the broader pharmaceutical industry".
Perhaps, but I think pharma would argue that they have been using software for a long time. And I'd argue that it is more of a bet on pharma's need to transition from legacy systems to next generation systems of intelligence (and the understanding that the software companies who've been around for 30+ years can't do it on their own). As is true with most private equity investors, I expect that Nordic will look to find both organic and inorganic ways to grow and evolve Aris' business. It will be interesting to see how this plays out for Aris and the PV software market as a whole over the next 2-3 years.
Second, leading up to DIA next week I've seen a lot more marketing outreach from Veeva around their new-to-market Safety Vault, which will compete with Aris Global's, ArisG (or LifeSphere as it is now known) and Oracle's Argus safety databases. In Veeva's Why Safety Needs the Cloud blog post, author Brian Longo writes that increasing complexity of case processing coupled with on-premise legacy databases has resulted in "...drug safety falling significantly behind, not evolving into its rightful place as a strategic enabler within the biopharma industry."
Veeva has built a reputation of being the "Salesforce of life sciences", so it appears I was having a moment of uncanny prescience in my article Pharmacovigilance Software is Having its Salesforce Moment, when it was written for Applied Clinical Trials last November. Obviously, I do agree with Brian. A true cloud based system like Veeva Safety Vault, as well as advances in AI for case processing, provides an opportunity to have a long term, trickle-down effect that will free up resources to accelerate aggregate insight generation using platforms like Advera Health's Evidex. Further, having seen a demo of Safety Vault, the UX/UI is top notch and the openness of their data via APIs allows for easy connections to downstream software like Evidex.
It is exciting to see things being shaken up in our historically stodgy drug safety world, with big players (and investors) seeing an opportunity to advance past the status-quo. How quickly these advances will impact the market as a whole is yet to be seen, but I expect we start to see real changes soon.
And while these changes start to take place, there is immediate opportunity for organizations to improve their downstream signal detection, signal management, and pharmacovigilance analytics systems with next generation cloud-based, software-as-a-service like our Evidex platform. Modern technological infrastructures like ours ensure future-proofing on however an organizations' safety database is delivered. And can better interact not only with traditional sources like ICSR databases, FDA Adverse Event Reporting System (FAERS) data, VigiBase, and clinical trial data, but with emerging, disparate sources such as social media, claims, EHR, and other unstructured data.
See our "no download required" white paper Pharmacovigilance Software in 2019 for a more comprehensive overview on where we believe the industry is headed.
Interested in signal detection best practices? Read Pharmacovigilance Signal Detection: A Complete Guide.