LORENZ Life Sciences Group: Digitizing Pharmaceutical Business Processes Globally
The Indian pharmaceuticals market is expected to expand at a CAGR of 15.92 per cent to US$ 55 billion by 2020. This can be attributed to the increase in demand for generic drugs, India’s large talent base which facilitates easy expansion into the non-generics markets, launching of initiatives by the government to further the industry as a whole on the global playing field and Indian companies that easily adapt to changing market conditions. A key player in the segment that has been increasing competitiveness in the pharmaceutical industry for both generic and patented drugs is LORENZ Life Sciences group.LORENZ helps in rapid pipeline development and obtaining of marketing authorization for products, that makes the marketing and monetary processes simple. “Our business is developing software that helps the life sciences industry to more effectively build marketing authorization applications that can be submitted to the various national health authorities around the world to obtain approval to sell the products in the respective markets,” states Ashutosh Pandey, MD – India, LORENZ Life Sciences group. The company’s solutions can be provided as an on premise or on cloud. Furthermore, all solutions have APIs that allow them to communicate with other systems within an organization.
LORENZ offers a variety of solutions like LORENZ docu Bridge, LORENZ drugTrack and more. LORENZ docu Bridge allows customers to build and file marketing authorizations quickly and, most importantly, electronically. LORENZ drugTrack effectively manages larger product portfolios of customers. drug Track helps manage activities to ensure that deadlines are not missed. It allows companies to identify product portfolio gaps within different markets around the world. LORENZ also provides products like LORENZ docu Render, LORENZ
Automator, LORENZ eValidator that help to create greater efficiency in the process. LORENZ docu Render ensures that documents compliant with the current regulatory requirements. The LORENZ Automator supports automation for batch processes. The LORENZ eValidator automatically works through a checklist of official validation criteria released by the regulatory health authorities around the world.
What differentiates LORENZ from other players in the segment is that it has the longest track record for proven software solutions in the overall drug development process across the world. LORENZ ’s tie ups with German BfArM, the Australian TGA, Health Canada, the European EDQM and many others helps them anticipate future changes to the regulatory business requirements. LORENZ is member or participant of a number of initiatives around the world that are focused on developing future technical requirements.
The company aims to harmonize and digitize business processes globally. Ashutosh concludes, “Our focus will be to make our customers more efficient in their exchange of information between industry and agency, thereby allowing them to put greater emphasis on the science. If we continually achieve this, we will also help improve the lives of patients - the ultimate goal of the entire industry - by being able to provide patients access to medicines faster, in a higher quality, and potentially at a lower cost.”
Our business is developing software that helps the life sciences industry to more effectively build marketing authorization applications that can be submitted to the various national health authorities around the world
What differentiates LORENZ from other players in the segment is that it has the longest track record for proven software solutions in the overall drug development process across the world. LORENZ ’s tie ups with German BfArM, the Australian TGA, Health Canada, the European EDQM and many others helps them anticipate future changes to the regulatory business requirements. LORENZ is member or participant of a number of initiatives around the world that are focused on developing future technical requirements.
The company aims to harmonize and digitize business processes globally. Ashutosh concludes, “Our focus will be to make our customers more efficient in their exchange of information between industry and agency, thereby allowing them to put greater emphasis on the science. If we continually achieve this, we will also help improve the lives of patients - the ultimate goal of the entire industry - by being able to provide patients access to medicines faster, in a higher quality, and potentially at a lower cost.”
