Pharma + PLM = regulatory compliance

It was interesting to read yesterday that there has been above average growth in the adoption of PLM in the pharmaceutical industry.

The main reason seems to be that PLM provides a great set of tools to manage the regulatory hoops that pharma companies now have to jump through in order to be compliant with a host of international mandates.

There is also an obvious benefit with PLM’s ability to streamline collaboration through the development of a new product to get it to market as quickly as possible. In a way, the compliance issues have made speed to market even more important due to the additional costs incurred as a result. Datamonitor put PLM spend by pharma companies at almost US$500 million in 2007.

You can view the full article on the MBT website.

One element of this article that I thought was especially interesting was the point that PLM needs to be viewed strategically – see my previous post on ‘What PLM is...’.