Decisions made throughout the entire drug development and commercialization process are fraught with risks and uncertainties. A top-10 pharmaceutical firm wanted to improve its decision-making to reduce its R&D costs and increase its productivity by using quantitative risk analysis techniques and Monte Carlo simulation.
The client engaged EpiX Analytics to support its clinical pharmacology team in a number of important projects. In addition, EpiX organized a number of custom-developed training workshops covering various aspects of probabilistic analytics including the most important stochastic processes, combining expert opinions, meta-analytics techniques and other best practices.
As a result of EpiX assistance and training courses, the client now consistently uses Monte Carlo and stochastic techniques to improve decision-making in the early drug development process.
A quote of the client’s experience with EpiX can be found in our testimonials, see Testimonials.
Note: EpiX together with the client also jointly organized a number of workshops, including one at the American Association of Pharmaceutical Scientists and another one at the American Society of Clinical Pharmacology and Therapeutics. EpiX also co-authored an article regarding the use of risk analysis techniques in drug development called “Probabilistic Risk Analysis: Improving Early Drug Development Decision Making”.