Patent Tracking Provides Unique Insights into Competitor Pipelines
IP Checkups custom patent monitoring and curation service supports Big Pharma Co’s successful launch of multi-billion dollar drug.
In an effort to develop best-in-class new chemical entities, in 2007, one of the world’s largest biopharma companies (~ $20 Billion market cap) turned to IP Checkups (IPC), a pioneer in patent research and analytics, to develop a system for the R&D team to track and monitor competitive patent information in real time.
With patent expirations related to its franchise products on the near-term horizon, a large pharmaceutical company with approximately $4 Billion per year in revenue needed to produce a new blockbuster drug in order to keep its share price from dropping. IPC was asked to assist the company in establishing a reliable, web based system for quickly reviewing and monitoring the most current competitive patent information.
It was critical for the solution to provide the research staff with all of the relevant patent documents, to not miss any patent documents, and remove all irrelevant patent documents. This combination of goals proved to be extremely difficult and not possible with available databases in light of the topics being searched.
IPC created broad patent searches using a combination of keywords and patent class codes to identify a “control group” of patent documents that were representative of the topic area. Then, IPC’s technical experts reviewed and summarized key criteria related to each of the patent documents in the control group and created technology categories in which to sort each document. Finally, IPC performed ongoing review, sorting and summarizing of the relevant patent documents to track and monitor newly published data.
IPC delivered the summarized data along with a PDF copy of each patent twice per week to the R&D team for several years. The information was delivered in IPC’s proprietary patent tracking and management software, PatentCAM™ in order for the researchers to stay on top of the most current published patent information.
IPC’s customer released its first approved product related to the focus technology in 2012. Several more product releases are making their way through clinical trials and the customer has moved on to monitoring and tracking patents in new therapeutic targets and mechanisms of action.
- $20 billion estimated product revenues over the next several years
- The R&D team has expanded three fold and the share price of the company has increased exponentially over the past eight years.