Need another reminder of how much drugmakers spend to discover what doctors are prescribing? Look no further than new documents from the leading keeper of such data.
IMS Health Holdings Inc. says it pulled in nearly $2 billion in the first nine months of 2013, much of it from sweeping up data from pharmacies and selling it to pharmaceutical and biotech companies. The firm’s revenues in 2012 reached $2.4 billion, about 60 percent of it from selling such information.
The numbers became public because IMS, currently in private hands, recently filed to make a public stock offering. The company’s prospectus gives fresh insight into the huge dollars – and huge volumes of data – flowing through a little-watched industry.
IMS and its competitors are known as prescription drug information intermediaries. Drug company sales representatives, using data these companies supply, can know before entering a doctor’s office if he or she favors their products or those of a competitor. The industry is controversial, with some doctors and patient groups saying it threatens the privacy of private medical information.
The data maintained by the industry is huge. IMS, based in Danbury, Conn., says its collection includes “over 85 percent of the world’s prescriptions by sales revenue,” as well as comprehensive, anonymous medical records for 400 million patients.
Daily Archives: January 10, 2014
CES 2014: Audi Shows Off a Compact Brain for Self-Driving Cars
Hands free: The Audi Sport Quattro Laserlight concept car features compact sensor and computing technology that lets the car pilot itself.
Carmaker Audi showed off a book-sized circuit board capable of driving a car on Monday at the International Consumer Electronics Show (CES). Audi claims the computer, called zFAS, represents a significant advance in automation technology because it is compact enough to fit into existing vehicles without compromising design.
Several different Audi vehicles equipped with zFAS drove themselves onto the stage during the presentation, and a new concept car designed to showcase it was also introduced.
The car, called the Audi Sport Quattro Laserlight, is capable of what Ulrich calls “piloted driving” but betrays no outward sign of being different from a conventional vehicle.