Cubist Pharmaceuticals, Inc. (CBST) Release: ClearTrial to Demonstrate Dramatic Gains in Clinical Outsourcing Efficiency Achieved by Biopharmaceutical Companies at European Outsourcing Event
2/2/2010 9:12:26 AM
London, United Kingdom – February 2, 2010 – ClearTrial (www.cleartrial.com), the leading provider of Clinical Trial Operations (CTO) software, today announced that it will be demonstrating the software's capabilities to drive greater outsourcing efficiency to an audience of more than 125 clinical outsourcing professionals at the 3rd Annual Clinical Outsourcing World conference in London. The event attracts biopharmaceutical companies from around the globe to hear top clinical outsourcing experts discuss major strategic and operational challenges of partnering with clinical research organizations (CROs).
Attendees of the conference will discover firsthand how ClearTrial software is helping biopharmaceutical companies worldwide gain speed and consistency and cut costs in the outsourcing function:
• Rapid "what-if" scenarios to choose the best outsourcing model for studies
• Accurate cost comparisons between types of CROs
• Fast, consistent RFP development
• Streamlined contract negotiations
• Greater visibility to cost and resource requirements, both internal and outsourced
• Minimized change orders and their corresponding impact on the organization
ClearTrial software is built on an activity-based or “project management” architecture, which enables the software to provide greater speed, accuracy, and flexibility to outsourcing groups and clinical operations. Supporting all outsourcing models and contract types, as well as 39 currencies and over 150 therapeutic indications, the software automatically calculates labor costs across 70 different countries.
Cubist Pharmaceuticals, Inc., a Massachusetts-based biopharmaceutical company focused on the research, development, and commercialization of pharmaceutical products that address unmet medical needs in the acute care environment, recently acquired the ClearTrial software, with a view to further enhance their clinical outsourcing efficiency.
“New clinical outsourcing models and alternatives that are in practice today have created much more complexity for our clinical trial planning and for optimizing our outsourcing needs,” said Dr. Santosh Vetticaden, Chief Medical Officer at Cubist. “We are looking forward to utilizing the capabilities of ClearTrial, to allow us to quickly compare cost scenarios for different approaches—fully outsourced, outsourced by function, independent contractors, and studies performed in whole or in part by internal Cubist personnel.”
“Other customers continue to share their outsourcing success stories with us,” remarked ClearTrial CEO Mike Soenen. “One recently cited that they shortened their typical two and one-half month contract negotiation period to just over two weeks from RFP development to signed contract. One of our mid-sized biotech customers recently saved 20% of the bid cost of a study through more informed negotiations with their CRO.”
Preparing RFPs and negotiating with vendors also becomes less labor-intensive with ClearTrial, which automatically generates critical documents such as fixed unit based price and resource demand reports based on the study assumptions, and increases accuracy and transparency during negotiations. In addition, cost reports such as milestone payment schedules and cash flow charts promote more equitable payment terms for both sponsors and their service providers.
Once a study is in progress, ClearTrial software tracks the project and financial performance against the operational plan, enabling quick identification of underperforming projects and the ability to drill down to the root cause. The software allows for quick reforecasting of costs, resource needs, and timelines when change orders become necessary.
“Another of our customers said that ClearTrial helped them better prepare to conduct trials in China for the first time by arming their staff with multiple cost, resource, and timeline scenarios made possible by ClearTrial’s sensitivity to global differences in study conduct,” remarked Soenen. “As the outsourcing of clinical trials continues to accelerate and to expand into new regions, we look forward to helping both sponsors and CROs plan, forecast, and track clinical trials more efficiently.”
ClearTrial is a leading provider of clinical trial software for clinical operations planning, budgeting, and outsourcing. ClearTrial’s award-winning software helps pharmaceutical, biotechnology, medical device companies, and CROs expedite the clinical development process without sacrificing quality of results. The company’s software products support clinical operations, resource planning, and outsourcing departments with a single solution that promotes speed and consistency, while maintaining flexibility to handle different study requirements. For more information please visit http://www.cleartrial.com.
ClearTrial® and the ClearTrial logo are registered trademarks owned by ClearTrial, LLC, which may be registered in certain jurisdictions. Any other company or product names mentioned in this release are hereby acknowledged as registered trademarks or trademarks of their respective owners.