Constant and persistent innovation is the hallmark of today’s multibillion dollar pharmaceutical industry. The Research and Development (R&D) of a single medicine can span over many years and gulp millions but these factors do not deter industry giants from their efforts.
Another great protection to this industry are strong patent laws so that once a company formulates a solution, it can safely reap its benefits for years to come. Like many other industries, cloud computing has proved its mettle here as well when it comes to flexibility, efficiency and cost effectiveness.
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Concerns Unique to Pharmaceutical Industry
The primary concern when prospecting for any cloud based solution in the medicinal industry revolves around security. However, the stakes in terms of security are very high as extremely personal and sensitive information resides with these companies.
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This can be considered as the most valuable asset of any pharmaceutical company. At the end of day, any medicine is basically a perfect formulation of a few chemicals that interact with the human body in such a way that an ailment is fully cured.
Many diseases that we don’t even know of today, consumed the lives of millions of people worldwide once they escalated to a pandemic stage. We owe a lot to the pharmaceutical industry for immensely increasing the average life expectancy and the quality of life in general.
The major insecurity for a pharmaceutical company when it deploys a cloud solution is that will its intellectual property be safe from the prying eyes of competitors. Once someone lays hand on a medicine’s formulation, it is a matter of days or weeks before the same medicine can be replicated.
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On-going Research and Development (R&D)
The concern about protecting the intellectual property is not limited to the already perfected medicines. Pharmaceutical giants are simultaneously performing R&D on tens or hundreds of new or more potent cures for diseases, infections and disorders.
Protection of this “work in progress” is also a legitimate concern for medicinal companies. Previously conducted R&D is also constantly being correlated with fresh studies to derive substantial results. From a cloud computing perspective, this is highly sensitive data.
Information About Patients
Conducting R&D for new medicines is just one major part of the overall picture. Pharmaceutical companies are also responsible for ensuring the timely production and delivery of prescription drugs. After all, the well-being or even lives of countless people may depend on this process going as planned.
As a part of this whole process, pharmaceutical companies house the medical and prescription records of millions of patients. On a personal level, medical records can be a highly sensitive and confidential piece of information. A vast majority of patients are not at all comfortable with even disclosing their ailment to others.
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Pharmaceutical companies are gravely and rightly concerned once they consider migrating this highly sensitive data over to the cloud. Any patient’s medical records getting hacked or stolen is the last thing a pharmaceutical company wants on its already full plate.
Now that we have discussed the challenges any pharmaceutical company would face while deploying a cloud solution, let’s highlight the potential advantages of the cloud for this industry.