Clinical trials constitute a significant portion of pharmaceutical company expenses. Cost of clinical trial can be vastly different depending on the countries included in the trial and sites chosen.
PM2CT is a solution designed to unite the following groups that are involved in clinical trial planning and execution:
Global Study Controllers:

• what countries to choose for the study
• what-if scenario modeling
• phase costs top-down to estimate monthly cost
• monitor study execution across different countries


Country RnD Controllers:

• monitor all studies in the country
• upload actual cost and patient enrollment data from local systems

Project Leads/CTOMs/ CROs:

• track specific study in the country
• update rolling forecast
• track enrollment and contract invoicing

PM2CT allows forecasting and tracking the following type of clinical trial costs:
Patient Costs, based on:

• patient enrollment
• procedures per visit
• overall study protocol to correctly calculate costs of follow up visits

Investigative and Comparative product pricing to accurately forecast:

• quantities required
• various buying and shipping costs

Contract-based Country Costs:

• Capture contract terms (duration and payment milestones)


Global Costs of running the Study:

• Capture the central cost of administering the study across different countries



Business information

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  • Functional details

    Forecast clinical trial expenses using either:

    Top-Down Phasing of Costs (mostly used on study planning phase) by:

    • patient enrolment curve
    • pro-rata phasing by study duration
    • contract payment milestones


    or Bottom Up calculation for Rolling Forecast and Actuals to track trial execution


    Monitor costs for local and regional studies

    Store clinical costs at different stages

    Access detailed information for Local and Global level

    Deliver operational excellence and mitigating internal control risks.

  • Business problem

    PMsquare Clinical Trial Financial Management is a solution designed to automate and enhance the processes of estimating the costs of launching a new multi-country clinical trial (including enhanced scenario modelling and forecasting capabilities) and monitoring running trials, providing a single point of data reference for financial controllers, clinical trial project leaders and operational managers.

  • Business opportunity

    Studies published in 2003 report an average pre-tax cost of approximately $800 million to bring a new drug (i.e. a drug with a New Chemical Entity) to market. 

    A study published in 2006 estimates that costs vary from around 500 million to 2,000 million dollars depending on the therapy or the developing firm.

    These figures relate only to new, innovative drugs. Each year, worldwide, only about 26 such drugs enter the market. 

    The development cost of the thousands of other drugs are much smaller. The $800 million quoted include the cost of all drug development which did not result in a new drug. It also includes some 400 million $ of opportunity costs.


  • Return on investment

    PM2CT allows to significantly speed up clinical trial forecasting and planning process (up to 5 days saved on trial forecasting phase) and at the same time increase the forecast accuracy by capturing the previous study costs and acting as a single source of trial cost data (up to 5% more efficient planning). Using PM2CT allows closer monitoring of actual trial execution and decreases the amount of reports required by global teams from operational managers (up to 2 days per month saved). 

  • Competitive advantage

    PM2CT has the following unique characteristics:

    • Single online view of all the data for all clinical trials;
    • Real-time data update and what-if scenario capabilities powered by an in-memory calculation engine (IBM Cognos TM1);
    • All-encompassing reporting capabilities (IBM Cognos Business Intelligence), delivering actionable dashboards and offline high-level reports on all devices
    • standard upload definitions to ease integration with the country systems;
    • country controllers are responsible for the mapping of local chart of accounts and trial details to PM2CT master data;
    • web-browser (TM1 Contributor) client with no installation required.

  • Industries

    Chemicals & Petroleum Industry
    Healthcare Industry
    Life Sciences Industry

  • Solution areas

    Healthcare and Pharmaceutical
    Life Sciences

  • Customer size

    Midmarket Business (100 to 499 employees)
    Midmarket Business (500 to 1000 employees)
    Large Business (greater than 1000 employees)

  • Languages supported

    English

  • Countries/regions available for distribution

    Algeria , Angola , Benin , Botswana , Bouvet Island , Burkina Faso , Burundi , Cameroon , Cape Verde , Central African Republic , Chad , Comoros , Congo , Congo, The Democratic Republic of the , Côte d'Ivoire , Djibouti , Equatorial Guinea , Eritrea , Ethiopia , Gabon , Gambia , Ghana , Guinea , Guinea-Bissau , Kenya , Lesotho , Liberia , Madagascar , Malawi , Mali , Mauritania , Mauritius , Mayotte , Morocco , Mozambique , Namibia , Niger , Nigeria , Rwanda , Réunion , Senegal , Seychelles , Sierra Leone , Somalia , South Africa , Swaziland , São Tome and Principe , Tanzania, United Republic of , Togo , Tunisia , Uganda , Western Sahara , Zambia , Zimbabwe

    Anguilla , Antigua and Barbuda , Argentina , Aruba , Bahamas , Barbados , Belize , Bermuda , Bolivia , Bonaire, Sint Eustatius and Saba , Brazil , Canada , Cayman Islands , Chile , Colombia , Costa Rica , Dominica , Dominican Republic , Ecuador , El Salvador , Falkland Islands (Malvinas) , French Guiana , Greenland , Grenada , Guadeloupe , Guatemala , Guyana , Haiti , Honduras , Jamaica , Martinique , Mexico , Montserrat , Netherlands Antilles , Nicaragua , Panama , Paraguay , Peru , Puerto Rico , Saint Kitts and Nevis , Saint Lucia , Saint Pierre and Miquelon , Saint Vincent and the Grenadines , South Georgia and the South Sandwich Islands , Suriname , Trinidad and Tobago , Turks and Caicos Islands , United States , Uruguay , Venezuela , Virgin Islands, British , Virgin Islands, U.S.

    American Samoa , Australia , Azerbaijan , Bangladesh , Bhutan , British Indian Ocean Territory , Brunei Darussalam , Cambodia , China , Christmas Island , Cocos (Keeling) Islands , Cook Islands , Fiji , French Polynesia , Guam , Hong Kong S.A.R. of China , India , Indonesia , Japan , Kazakhstan , Kiribati , Korea, Republic of , Kyrgyzstan , Lao People's Democratic Republic , Macao S.A.R. of China , Malaysia , Marshall Islands , Micronesia, Federated States of , Mongolia , Myanmar , Nepal , New Caledonia , New Zealand , Norfolk Island , Northern Mariana Islands , Palau , Papua New Guinea , Philippines , Samoa , Singapore , Sri Lanka , Taiwan , Tajikistan , Thailand , Timor-Leste , Turkmenistan , Viet Nam

    Åland Islands , Albania , Andorra , Armenia , Austria , Belarus , Belgium , Bosnia and Herzegovina , Bulgaria , Croatia , Cyprus , Czech Republic , Denmark , Estonia , Faroe Islands , Finland , France , Georgia , Germany , Gibraltar , Greece , Guernsey , Holy See (Vatican City State) , Hungary , Iceland , Ireland , Italy , Latvia , Liechtenstein , Lithuania , Luxembourg , Macedonia, The former Yugoslav Republic of , Malta , Moldova, Republic of , Monaco , Montenegro , Netherlands , Norway , Poland , Portugal , Romania , Russian Federation , San Marino , Serbia , Slovakia , Slovenia , Spain , Svalbard and Jan Mayen , Sweden , Switzerland , Turkey , Ukraine , United Kingdom , Uzbekistan

    Afghanistan , Bahrain , Egypt , Iraq , Israel , Jordan , Kuwait , Lebanon , Oman , Pakistan , Palestinian Territory, Occupied , Qatar , Saudi Arabia , United Arab Emirates , Yemen

    Antarctica , French Southern Territories , Heard Island and McDonald Islands , Maldives , Nauru , Niue , Pitcairn , Saint Helena , Solomon Islands , Tokelau , Tonga , Tuvalu , United States Minor Outlying Islands , Vanuatu , Wallis and Futuna

  • Available from these resellers

    PMSquare Pty Ltd
       Ground Floor
       14 Atchison Street
       St Leonards ,  NSW   2065
       Australia
     Contact name Carsten Brandt
       Phone 1300 767 782
       E-mail cbrandt@pmsquare.com.au

    PMsquare INC
       6th Floor Unit 1A, Cyber One Building
       BAGUMBAYAN, ,  Quezon City   1110
       Philippines
     Contact name Carsten Brandt
       Phone +63 2 464 9317
       E-mail info@pmsquare.asia

    PMSquare Pte Ltd
       20 Cecil Street
       14-01 Equity Plaza
       Singapore  049705
       Singapore
     Contact name Carsten Brandt
       Phone +61434921391
       E-mail info@pmsquare.asia

    PMSQUARE (THAILAND) CO., LTD.
       1108/31 Sukhumvit Road, Prakanong, Klongtoey
       #02-11 Lavender Place
       BANGKOK ,  10   10260
       Singapore
     Contact name Carsten Brandt
       Phone +6597726664
       Fax +6597726664
       E-mail cbrandt@pmsquare.asia

    PMsquare UG
       20. Etage
       Platz der Einheit 1
       Frankfurt am Main ,  Hessen   60327
       Germany
     Contact name Carsten Brandt
       Phone +49 (0)69 9675 9519
       E-mail cbrandt@pmsquare.de

  • Solution collateral

Technical information

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  • Hardware/OS platforms

    Other Operating System (Software as a Service)
       Cluster 1350
       Handheld Devices (all brands)
       Desktops and Notebooks (all brands, including ThinkPad/ThinkCentre PCs by Lenovo)
       Thin Clients (all brands)
       Non-IBM Hardware
       Hewlett-Packard servers (incl. Compaq)
       Other non-IBM servers
       Fujitsu Siemens servers
       Sun Microsystems servers
       IBM BladeCenter HSxx (Intel processor-based)
       IBM BladeCenter JSxx (POWER processor-based)
       IBM BladeCenter LSxx (AMD processor-based)
       Dell servers
       IBM Systems: z Systems
       System x
       IBM BladeCenter QSxx (Cell BE-based)
       IBM Systems: Power
       IBM PureSystems: PureFlex System and Flex System
       System x Integrated Solutions
       IBM Cloud
       Cloud - Other

  • Services

    Product Support Services
    Professional Services

  • Software

    IBM Information Management
       Cognos
       Information Management


Date last modified:    May 19, 2017


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Contact information

Carsten Brandt
+65 6635 1700


Company

PMSQUARE PTE LTD
161 Lavender Street
#02-11 Lavender Place
SINGAPORE, Central Singapore 338750
Singapore

+65 65 66351700


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