Survey of life science experts found 43% of companies plan to implement IDMP Ontology this year
The Pistoia Alliance has launched a new industry benchmark report: Accelerating Digital Transformation in Pharma with IDMP. The report examines the status of the implementation of Identification of Medicinal Products (IDMP) standards in global pharma and the role of the IDMP Ontology in accelerating digital transformation.
The European Medicines Agency (EMA) continues to advance the implementation of IDMP standards, a regulatory framework that will become mandatory across the EU, with the FDA likely to follow close behind. Failure to implement IDMP could lead to a number of risks including regulatory penalties, inefficiencies in operations and threats to patient safety.
Key findings from the report:
- 43% of companies said they plan to implement IDMP Ontology this year
- 89% of companies recognize the long-term value of IDMP beyond compliance
- Pharmacovigilance is no longer seen as key to the success of IDMP even though it was its original purpose
The survey was conducted by the Pistoia Alliance, ACCURIDS and MAIN5 and supported by the award-winning IDMP Ontology project with participants from Abbvie, Amgen, AstraZeneca, Boehringer Ingelheim, Bayer and Novartis.
Download the report here.
The Pistoia Alliance is running a new IDMP Training program starting November 19 , 2024, to help equip organizations with a comprehensive understanding of how the IDMP Ontology addresses complex challenges inherent in the IDMP domain. Attendees will gain insight into the ontology’s structure and how it can be used to streamline processes, enhance data interoperability, and ensure regulatory compliance.
For further information get in touch via email: aditya.tyagi@pistoiaalliance.org