GOVERNMENT
Pharsight Signs $900,000 Integrated Consulting and Software Contract
Global Pharmaceutical Company to Utilize an Integrated Suite of Pharsight Services in Critical Portfolio Optimization Decisions -- Pharsight Corporation, a leading provider of software and strategic services for optimizing clinical drug development, today announced it has entered into the largest single project workplan in its history integrating the services of drug-disease modeling, meta-data analysis and model visualization. The multi-quarter agreement, of nearly $900,000 in value, exemplifies the benefit delivered by combining Pharsight's Strategic Consulting Services (SCS) expertise and software tools such as Drug Model Explore (DMX) to address critical strategic portfolio prioritization decisions. 
SCS will apply Pharsight's core methodologies for drug-disease modeling and simulation to the client's development compounds and to various existing competitive compounds. The purpose is to understand the likelihood of client drug candidates outperforming competitive drugs. The results will then be communicated to all members of the development team using Pharsight's web-browser based software tool DMX. DMX is an easy-to-use, intuitive visualization tool that clearly illustrates modeled drug attributes, such as exposure-response or dose vs. side effect, allowing any member of the drug development team (not just modelers) to visually compare the anticipated market performance of drug candidates using a simple browser-based tool. The model-based competitive product analysis can then be used to make "go/no-go" decisions, change development strategy to achieve stronger commercial results and select competitive, appropriate dosage rates earlier in clinical trials. "We are seeing a number of large contracts integrating multiple Pharsight software tools and methodologies and this new opportunity is the largest such engagement we have achieved to date," said Shawn O'Connor, president, chief executive officer, and chairman of Pharsight. "The FDA's call for more modeling and simulation in the Critical Path Initiative and the rising costs of drug development continue to drive adoption of our entire spectrum of tools and services. We believe these trends will lead to future growth as our large and capable strategic consulting organization continues to identify opportunities to work with major pharmaceutical and biotechnology companies to realize the benefits of more and better PK/PD modeling."
SCS will apply Pharsight's core methodologies for drug-disease modeling and simulation to the client's development compounds and to various existing competitive compounds. The purpose is to understand the likelihood of client drug candidates outperforming competitive drugs. The results will then be communicated to all members of the development team using Pharsight's web-browser based software tool DMX. DMX is an easy-to-use, intuitive visualization tool that clearly illustrates modeled drug attributes, such as exposure-response or dose vs. side effect, allowing any member of the drug development team (not just modelers) to visually compare the anticipated market performance of drug candidates using a simple browser-based tool. The model-based competitive product analysis can then be used to make "go/no-go" decisions, change development strategy to achieve stronger commercial results and select competitive, appropriate dosage rates earlier in clinical trials. "We are seeing a number of large contracts integrating multiple Pharsight software tools and methodologies and this new opportunity is the largest such engagement we have achieved to date," said Shawn O'Connor, president, chief executive officer, and chairman of Pharsight. "The FDA's call for more modeling and simulation in the Critical Path Initiative and the rising costs of drug development continue to drive adoption of our entire spectrum of tools and services. We believe these trends will lead to future growth as our large and capable strategic consulting organization continues to identify opportunities to work with major pharmaceutical and biotechnology companies to realize the benefits of more and better PK/PD modeling."