Pharmacovigilance (PV) is fundamental to the pharmaceutical industry, and it continues to grow in size, with new challenges and inclusions for safety reporting. The global pharmacovigilance market is expected to increase by 11.5% CAGR from 2021 to 2028 and is expected to reach nearly $15 billion by 2028. Increased awareness about adverse drug reactions is a major driving factor for growth in this sector, with global mandates requiring granular product information.
Navitas Life Sciences’ Pharmacovigilance Services
Navitas Life Sciences’ robust compliance systems and experienced talent caters to the surge in demand for effective and efficient pharmacovigilance services. Our thorough safety documentation coupled with resource efficient and proactive processes have helped us gain global presence.
There are 4 top components in our PV services
1. Experience and Strategy: Our PV services offer several advantages due to the specialized services provided and to the superior client experiences created. PV services help improve competitive advantage by ensuring a stronger benefit-risk profile, with enhanced identification of patients who may be at risk.
The ever-increasing complexity in the regulatory sector necessitates highly skilled talent in risk management with an in depth understanding about compliance. Navitas Life Sciences has invested in training a diverse talent pool, who are supporting PV services with their experience and expertise.
2. Core Strengths and Capabilities: Navitas Life Sciences has been assisting multiple global life sciences organizations in integrating their safety reporting from varied sources, while maintaining compliance and ensuring patient safety.
The main aspects in PV services including adverse event case management, risk management, aggregate reporting, and signal management are efficiently conducted, catering to the current levels of clinical and safety data reporting and transparency.
Technological support for intelligent services across the value chain helps identify gaps that may exist in the PV chain, with efficient implementation of strategies to mitigate them. We have developed our safetyREADY suite of accelerators to implement Oracle Argus Safety, with the ability to migrate from legacy safety applications to Argus Safety, or integrate Argus Safety with other life sciences applications, or to deploy Argus Safety on best in-class cloud infrastructure and provide on-going support for both application and infrastructure.
3. Access to Global market knowledge and Networks: Navitas Life Sciences’ industry leading Networks are an established independent community for business leaders in the life sciences industry, aimed at addressing common challenges while empowering through the exchange of insights, comparative performance analysis, and more. There are multiple networks within this broad umbrella, focused on specific areas of interest in the life sciences industry, tackling both the strategic and operational needs of our members.
Such networks provide a platform for industry peers to gain insights and share from one another in an open environment while industry benchmark information helps in comparing and measuring operational and organizational performance.
4. Administration: Stellar PV services require effective issue escalation and resolution, made possible by experienced and well managed governance. Efficient and experienced organization wide crisis management, with closed processes, help mitigate risks while maintaining compliance.
Data security, complexities in the regulatory landscape and investment in the right technology necessitate a good governance framework to help address ever-growing PV challenges.
Navitas Life Sciences has market tested processes and expertise that help identify challenges in pharmacovigilance, with knowledge to help mitigate them.
End-to-end Global PV Services for a Mid-Size Pharma Company
Navitas Life Sciences fosters effective support for pharmaceutical companies to provide a competitive edge through best-in-class pharmacovigilance services. We deliver innovation and industry best practices, fueled by knowledge gained through unique industry networks and augmented by edge technologies.