Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been named a Leader and Star Performer in the Everest Group PEAK Matrix® for Life Sciences (LS) Operations.
In an assessment of 24 global life sciences service providers, TCS was positioned highest for Vision and Capability. Cited as a strength is TCS' significant scale in the LS operations services market, with solutions like its cloud-based TCS ADD platforms witnessing increased traction in the market, particularly the TCS Connected Clinical Trials™ platform, which enables patient engagement and clinical supply process visibility. The report highlights that TCS is deploying automation for multiple customers in pharmacovigilance, data management, and the medical affairs segments, which is augmented by its in-house technology engine - the TCS Decision Fabric.
TCS was positioned as a Star Performer for its addition of new customers in the clinical trials and regulatory affairs value chain segments, and investments in building solutions and its talent pool to expand into newer processes such as commercial operations and supply chain.
"Life sciences enterprises are leveraging emerging technologies and next-gen platforms to overcome the challenges that come with rising costs, declining revenues, data explosion, continued M&A pursuits, and increasingly complex regulations, as well as to drive digitization in R&D and focus on specialty drugs," said Debashis Ghosh, Business Group Head, Life Sciences and Healthcare, TCS. "This leadership position is a validation of our vision and strategy, global scale, portfolio of domain-focused platform solutions, and the resultant market impact."
TCS collaborates with leading life sciences companies to enable their digital transformation journey by leveraging its Business 4.0™ framework and Machine First™ Delivery Model (MFDM™). TCS offers a full set of business operations and transformation services and solutions including advisory services, predictive and prescriptive analytics, clinical operations, regulatory services, laboratory platforms, AI / ML solutions, pharmacovigilance, genomics research, blockchain, and medical articles and medico marketing. Early investments in re-skilling the workforce, building agile workplaces, and developing intellectual property have helped TCS gain significant scale and depth in digital technologies.
The company's extensive portfolio of intellectual property - including the award winning TCS ADD platform suite, Real World Evidence platform, Decision Fabric™ engine, TCS Connected Clinical Trials™ platform and Translational Research Platform - help customers achieve better speed to market and superior business outcomes.
"The life sciences industry is under tremendous pressure to streamline processes, comply with regulatory norms, launch newer drugs at a faster pace, and deliver real value for patients. Under the weight of such issues, the core capability of a pharma company - innovation - can often take a back seat," says Manu Aggarwal, Vice President, Everest Group. "TCS' investments in creating an integrated platform - the Advanced Drug Development (TCS ADD) platform - along with focus on building deep domain expertise and expansion into newer services such as commercialization is bringing the focus back on drug innovation."
"Our focus on innovation, technology-driven solutions and platforms that digitize the life sciences value chain, contextual knowledge, as well as significant investments in innovation labs and upskilling of digital talent, position us as a preferred partner to drive our customers' growth and transformation agendas," added Debashis Ghosh.
Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2183.8 as compared to the previous close of Rs. 2191.6. The total number of shares traded during the day was 58034 in over 4579 trades.
The stock hit an intraday high of Rs. 2211.55 and intraday low of 2170.95. The net turnover during the day was Rs. 127121733.