A Strategic Guide to GenAI-Powered Medical Writing Solutions for Biopharma and CRO
The Generative AI Opportunity in Life Sciences
The global drug R&D pipeline has grown fourfold since 2001, adding pressure on the pharmaceutical industry to manage escalating costs across discovery, development, and clinical testing. In 2023, the average cost to develop a new drug hit $2.3 billion, with clinical development accounting for approximately 60-80% of expenses. Additional challenges include a reduced exclusivity period, which has steadily decreased over the years, thereby limiting the timeframe companies have to recoup their investments.
The GenAI Advantage: The McKinsey Global Institute (MGI) estimates GenAI’s potential in delivering $13–$25 billion annually in clinical development efficiency gains. By reducing clinical trial costs by up to 50% and trimming trial timelines by over a year, GenAI can provide a strategic edge for biopharma companies navigating regulatory and market demands.
Maximizing Impact with GenAI-Copiloted Medical Writing
Clinical development medical writing involves stringent regulatory standards, high resource demands, complex data management, and frequent updates. Multi-team coordination adds complexity and error risks, making streamlined processes crucial for timely, high-quality submissions.
GenAI Capabilities and Tools for Streamlined Writing: GenAI offers robust capabilities like knowledge extraction, data summarization, automated drafting, and quality control, enabling efficient, high-quality document creation. Integrated with advanced algorithms and a robust framework, GenAI acts as a “co-pilot” within clinical systems, enhancing accuracy, streamlining workflows, and boosting efficiency. This controlled integration addresses clinical documentation challenges effectively while mitigating occasional limitations such as “hallucinations”.
Leading Generative AI Co-piloted Medical Authoring Solutions
CSR: 90% reduction in first draft time; 45% overall time savings.
Protocol: 90% reduction in first draft time; 50% overall time savings.
Safety Narrative: 95% reduction in first draft time; 70% overall time savings.
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