Mumbai: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organisation, has been recognised as a leader and star performer for life sciences clinical and R&D IT services by leading advisory and research firm, Everest Group, in its report titled Life Sciences Clinical and R&D IT Services – Service Provider Landscape with PEAK Matrix™ Assessment 2017.
Everest Group acknowledged TCS’s strong foothold in the pharmaceutical and medical devices sector and a growing business presence with biotechnology firms. The report highlights TCS’s strong growth in strategic clinical and R&D space with solutions, such as Advanced Drug Development Platform and Connected Clinical Trials, and consistent execution excellence. In addition, TCS is recognised for its significant investments in gene-based therapeutics and connected healthcare, and an emerging platform play in clinical and R&D areas.
Everest Group analysed 18 leading service providers on the Everest Group PEAK Matrix specific to life sciences clinical and R&D IT services, categorising them into leaders, major contenders, and aspirants. The PEAK Matrix is a composite framework that provides an objective, data-driven and comparative assessment of life sciences clinical and R&D IT service providers based on their absolute market success and delivery capability.
“Life Sciences companies need to reinvent clinical and R&D processes, given disruptive market dynamics, and they are using technology and analytics as key levers to manage this change. There is a need to compress cycle times, improve cost efficiency and drive precision medicine efforts,” said Jimit Arora, partner, Everest Group. “TCS, with its investments in gene-based therapeutics and connected healthcare, combined with an emerging platform play, is establishing itself as a partner of choice for Life Sciences firms,” Mr Arora further stated.
“Digital disruption is creating opportunities for the Life Sciences industry to accelerate the drug development process while emphasising patient engagement, personalised medicine and connected health,” said Debashis Ghosh, president, life sciences, healthcare, government and energy business group, TCS. “TCS has developed innovative solutions and platforms using cognitive technology, advanced analytics and rich domain expertise to fully digitise drug development process, reduce cycle time, and enhance R&D productivity while ensuring compliance,” Mr Ghosh added.