Parexel takes ‘significant step forward’ in RWE strategy with Shyft Analytics

By Melissa Fassbender contact

- Last updated on GMT

(Image: Getty/everythingpossible)
(Image: Getty/everythingpossible)

Related tags: RWE, Parexel, Medidata, Data management, Real world data

Parexel is adopting Medidata’s Shyft Analytics platform to bolster its real-world evidence generation and outcomes research offering to biopharmaceutical and medical device clients.

Shyft Analytics is a Medidata Solutions company, which this week has signed a strategic partnership agreement with Parexel, a global biopharmaceutical services provider.

Michelle Hoiseth, chief data officer, Parexel​, said the new collaboration with Shyft – as well as its recent partnership with Datavant​, which enhances the company’s data-linking capabilities – is a “significant step forward”​ in its approach to help sponsors leverage real-world data.

“The availability of real-world data is growing, however, innovative analytics methods and technology are needed in order gain insights from that data,”​ she told us.

“Leveraging Shyft’s Quantum RWE platform significantly advances our dynamic modeling capability and reduces the time to analyses in our healthcare data-based strategy, design, and modeling.”

With Shyft’s technology, Parexel will be able to perform at-scale analyses, including cohort modeling, trial feasibility assessment, and large-scale observational studies – “research that will have broad impact across the drug development and market access spectrum,”​ said Hoiseth.

According to a study​ commissioned by Parexel and published by the Economist Intelligence Unit (EIU), the likelihood of new product launch increased by 21% for trials using real-world data.

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