Mitsubishi Tanabe targets slicker trials in Hitachi tie-up

Deals with tech companies are almost seen as essential in pharma today as they consider how to combat challenges such as rising development costs, but rarely is the need for these collaborations spelt out so clearly as it was when two Japanese firms announced a collaboration on Monday.

Mitsubishi Tanabe Pharma Corporation (TSE: 4508) and Hitachi (TSE: 6501) are aiming to improve the efficiency of clinical trials for the development of new drugs using digital technology such as artificial intelligence (AI). They hope to reduce the time and cost of studies, while increasing the probability of success.

Announcing the collaboration, a statement from the companies read: “The business environment surrounding pharmaceutical companies in Japan is expected to become increasingly severe given the lowering of drug prices and the substantial increase of the market share of generics.