Need another reminder of how much drugmakers spend to discover what doctors are prescribing? Look no further than new do ents 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 compe ors 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 compe or. 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.
All of this adds up to 10 petabytes worth of material — or about 10 million gigabytes, a figure
roughly equal to all of the websites and online books, movies, music and TV shows that have been stored by the nonprofit
Internet Archive.
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