NEW YORK, Nov. 1, 2018 /PRNewswire/ -- Genpact (NYSE: G), a professional services firm focused on delivering digital transformation, today announced it has signed a multi-year agreement with Bayer, under which Genpact's Pharmacovigilance Artificial Intelligence (PVAI) suite of capabilities will be applied to Bayer's existing pharmacovigilance database and IT systems.
"We believe the ability to apply advanced AI technologies, with significant process and domain expertise, will usher in a whole new era of pharmacovigilance by serving as a single machine learning system that can be utilized across the industry by life sciences companies, healthcare providers, and regulators," said Balkrishan 'BK' Kalra, business leader, Life Sciences and Healthcare, Genpact. "We expect safety issues can be identified more rapidly, and resources can be freed up to focus on advanced and effective risk minimization measures. We are thrilled to be working with Bayer to leverage their excellence in pharmacovigilance and together create a better future with increased collaboration across the healthcare ecosystem."
Genpact's PVAI solution, which incorporates the Genpact Cora PharmacoVigilance software product, has the ability to identify and analyze patient safety data by facilitating a faster detection of trends within large data volumes. As a result, PVAI has the potential to uncover new drug-related side effects earlier, and therefore could potentially improve pharmaceutical companies' ability to better ensure patient safety.
"With Genpact, we have found a partner whose innovative capabilities in the area of applying advanced AI and machine learning technologies to pharmacovigilance provide us with an opportunity to further increase the efficiency of our pharmacovigilance operating model and case processing, while maintaining our high quality and compliance standards," said Michael D. Levy, Global Head of Pharmacovigilance for Pharmaceuticals and Consumer Health, Bayer AG. "We believe that Genpact's PVAI solution can help us to continue strengthening our position as a leading pharmacovigilance organization, focusing on patient safety."
Genpact has won recent competitive proof of concept trials conducted by large pharmaceutical companies, in which the Genpact PVAI solution demonstrated industry-leading performance in automated extraction of adverse event data from source documents, as well as superior machine learning capacity over other solutions. Bayer, as an early adopter, is among the first companies going live with Genpact's AI-based Case Management module of the PVAI solution suite.
Genpact has been investing heavily in combining its deep process and domain expertise with AI-led digital capabilities to further build its end-to-end pharmacovigilance solution, most recently with the addition of Commonwealth Informatics to the Genpact PVAI team. Interested parties can learn more about how we expect Genpact's suite of PVAI capabilities to help transform pharmacovigilance operations.
Genpact (NYSE: G) is a global professional services firm that makes business transformation real. We drive digital-led innovation and digitally-enabled intelligent operations for our clients, guided by our experience running thousands of processes for hundreds of Global Fortune 500 companies. We think with design, dream in digital, and solve problems with data and analytics. We obsess over operations and focus on the details – all 80,000+ of us. From New York to New Delhi and more than 20 countries in between, Genpact has the end-to-end expertise to connect every dot, reimagine every process, and reinvent companies' ways of working. We know that rethinking each step from start to finish will create better business outcomes. Whatever it is, we'll be there with you – putting data and digital to work to create bold, lasting results – because transformation happens here. Get to know us at Genpact.com and on LinkedIn, Twitter, YouTube, and Facebook.
This press release contains certain statements concerning Genpact's future expectations, plans and prospects that constitute forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify these statements by forward-looking terms such as "expect," "anticipate," "intend," "plan," "believe," "could," "may," "shall," "will," "would" and variations of such words and similar expressions, or the negative of such words or similar expressions. These statements are only predictions based on our current expectations and projections about future events. These risks, uncertainties and other factors include but are not limited to the risks detailed in our reports filed with the U.S. Securities and Exchange Commission, including Genpact's Annual Report on Form 10-K. These filings are available at www.sec.gov. Although Genpact believes that these forward-looking statements are based on reasonable assumptions, you are cautioned not to put undue reliance on these forward-looking statements, which reflect management's current analysis of future events and should not be relied upon as representing management's expectations or beliefs as of any date subsequent to the time they are made. Genpact undertakes no obligation to update any forward-looking statements that may be made from time to time by or on behalf of Genpact.
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