12 Mar
You’ve probably heard it said before: people are the greatest assets. A company that fails to recognise the value of their people miss the greatest opportunities for success and future growth.
Biotechs are no different. In fact, people are central to just about every aspect of their operation, from initial development of the drugs to conducting clinical trials to getting the product to market.
As the parent company of PharmaSols, HiRO (Harvest Integrated Research Organization) enjoys the play on their name, apt because these companies do indeed recognise the importance of a people-centred approach and the many ‘heroes’ that bring about new and innovative medical products.
As HiRO CEO Karen Chu points out, there are several different types of heroes in the medical research arena.
“We may have a Wonder Woman and a Professor X meeting room (at the HiRO offices),” Chu admits. “But I don’t think heroes are only in our company. I think heroes are also at the hospitals… The physicians and the nurses – I think they are heroes as well. They are all part of the journey.
“Biotech is a hero – coming up with a novel drug or device under very constrained circumstances. I think they are definitely heroes in terms of bringing that drug to market. At the same time, I think the patients are heroes, too...They put in their time to participate in clinical trials, so they do something for the good of the greater population.”
There are many groups of people involved in bringing a new drug to market:
Drug development simply could not be done without people. Ironically, the flip side is that people, specifically the recruitment and retention of patients, can be a biotech’s biggest challenge.
Given that the top 20 pharmaceutical companies spend to the tune of $60 billion on drug development each year, and the estimated average cost of bringing a drug to market is now $2.6 billion (a 140% increase in the past 10 years)¹, it is essential that each stakeholder at every stage of development is efficient.
However, 85% of clinical trials experience delays², with every day behind schedule representing loss of revenue. One of the biggest causes of delay? Poor patient retention.
Not all patient dropouts can be prevented, but reasons for dropping out can be pre-empted and addressed to minimise the likelihood of them becoming stumbling blocks. Some common reasons may include:
It is important to remember that patient involvement is voluntary and that if it is ‘costing’ them more to participate than not – they most likely won’t.
The single most effective way to ensure minimal patient dropout rates is to develop a patient-centric (people-focused) protocol from the very beginning.
This means keeping the patient front and centre of the trial design and accommodating them as much as possible. Excellent communication from the PI and ALL members of the CRO team is essential, as is everyone’s ability to interact well with the patients.
A patient-centric protocol design may consider ease of getting to the site (public transport, free parking, etc) or how patients who work during the week may be able to participate on weekends.
Patients who experience high levels of anxiety will need to know that they have access to the PI to ask questions and that the team are patient and reassuring.
The protocol will have an in-built level of flexibility so that if things don’t always go according to plan, there is a Plan B. For example, patients who are unable to get to site may be able to participate remotely.
Conducting trials in regions that typically have successful retention rates is important, too. In Australia and New Zealand, for example, there is a strong willingness to participate in clinical trials. Trial stats from ANZCTR show that between 2015 and 2020, patient recruitment exceeded expectations, resulting in 103% retention of patients. ³
Biotechs often do not have sufficient in-house expertise, and the right research partner is vital to ensure successful outcomes.
This is where HiRO can step in as one of the many heroes in the drug development and commercialisation process.
With over 20 years of industry experience and strategically placed in the ANZ region, the HiRO team comprises of people with the right skills, attitude, and scientific, operational, and academic knowledge to better support global biotech’s needs.
Our people-centric team is dedicated to delivering participant recruitment and retention targets and simplifying the whole clinical research process.
“The HiRO team deeply understands each local region’s clinical trial landscape,” Chu says. “Relationships and networks are important – it is essential to work with good people. Our global networks and partnerships support biotech to save R&D time and money.”
Make sure to also subscribe to our newsletter to receive regular updates and key industry insights.
¹ Innovation in the pharmaceutical industry: New estimates of R&D Costs, “Journal of Health Economics, May 2016, Volume 47, pp.20-33, sciencedirect.com
² Facts about clinical trials. (Online) Available at: http://www.arena-international.com/clinicaltrials/facts-about-clinical-trials/1063.article (Accessed 07/07/2021)
³ Australia New Zealand Clinical Trials Register (2015-2020) Commercial Trials
Other News
March 2024 (1)
February 2024 (1)
December 2023 (1)
November 2023 (1)
October 2023 (1)
September 2023 (2)
August 2023 (1)
July 2023 (1)
June 2023 (2)
May 2023 (3)
April 2023 (1)
March 2023 (2)
The Go-to region for clinical trials (1)
HiRO – our global advantage, tailored solutions and key partnerships (1) (1)
HiRO – an emerging full-service global CRO (1)
HiRO – Top CRO in APAC 2022 (1) (1)
November 2022 (1)
October 2022 (1)
September 2022 (1)
August 2022 (1)
July 2022 (1)
June 2022 (1)
May 2022 (1)
April 2022 (1)
March 2022 (1)
January 2022 (1)
December 2021 (1)
November 2021 (1)
October 2021 (2)
September 2021 (2)
August 2021 (3)
July 2021 (3)
June 2021 (2)
May 2021 (1)
April 2021 (2)
March 2021 (1)
February 2021 (1)
December 2020 (5)
November 2020 (1)
October 2020 (5)
September 2020 (1)
August 2020 (2)
May 2020 (5)
January 2024 (0)