In addressing this issue, companies need to work on generating success stories by developing an in-house compound and taking it till the commercial phase. Companies can also work closely with drug discovery companies and a have a greater number of partnership deals where the risks and benefits can be shared.

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The life sciences industry is now in a period of transition, as it seeks to use IT in resolving the process inefficiencies that cause a lot of dollars to be wasted across the spectrum, from R&D to post-marketing. These companies are now witnessing a sharp uptake of IT tools, which is not limited to the drug discovery process in the life sciences industry.

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