With many companies in the industry falling short of new and unique compound it is harder for pharmaceutical companies to continue to fork out the billions of dollars in development as in the past. The time taken for a new drug to get the regulatory approval from the U.S. Food and Drug Administration is on an average ten to fifteen years and estimated one million dollar.. With each delay making a blow to the profitability of the concern, the industry is forced to rely on web technology applications to speed up the other processes.
The primary step to be taken by these companies is to introduce the web technology applications in pharmaceutical meetings that enable the participants to have a better understanding on the business needs and to quickly identify the opportunities and advancements made in the technology. With web application tools like teleconferencing and video conferencing creating a stage for easy communication irrespective of the geographical location of the participants of the meeting, the employment of advanced technologies can eradicate the barriers of time.
The pharmaceutical meetings have introduced web technology applications to conduct web seminars or the Webinars. With the pharmaceutical companies using a mix of biology and chemistry, there are loads that each need to be informed about. With web conferencing giving access to the participants to watch an online presentation, besides the facility of sharing desktop, these group presentations and meetings create an effective output. The interaction between the participants gets enhanced when the query put forward by one finds an immediate solution from another.
The platform created by the web technology applications in pharmaceutical meetings permits the meeting and chatting of scientists from any field irrespective of their place of location. The time and cost savings spared through web application-employed meetings is immense.
The whiteboards are a great way for conceptualizing the ideas of the members of the pharmaceutical meetings. Identification of the tools used by others and ways for improving these ensures better outcome. The drawing and annotation tools like the pencils, pens and virtual sticky notes offer an interesting way of carrying out detailed discussions by the members. The web technology applications are also used by the pharmaceutical companies to share a document to which access to a restricted few permits the opportunity to make modifications to the document on a real-time basis, creating a great stage for follow-up.