While artificial intelligence (AI) continues to drive improvement in enterprises in terms of productivity and customer experience, some of the globally accredited pharma companies are on their way to discover drugs with this ground-breaking technology. With an announcement in May 2018, the Massachusetts Institute of Technology (MIT) welcomed the following companies as members of the Machine Learning for Pharmaceutical Discovery and Synthesis Consortium:
• Bristol-Myers Squibb
• Johnson & Johnson
• Novo Nordisk
While there are more companies that are involved in the task of drug discovery, the rankings are based on five important criteria:
1. The spending of a company in terms of R&D and the economic returns gained from the expenditures
2. Patents filed for every $1 Million which is spent on R&D by companies. This criterion counts the patents which have been filed before the relevant drugs were brought into the middle stages of trial. The major reason behind this is the scenario that arises after the middle stage of drug trial—companies file new patents with an objective of defending the products in the future.
3. The frequency of the patents being referred to by other publications as well as patents
4. Whether the companies are lagging behind or leading in the number of patents it files in terms of a specific disease or chemist types
5. Rankings based on internal bias—how neutrally a company puts up its patents
The new ranking of top 22 firms that are involved in the drug discovery projects has been created by Richard Evans, the lead analyst of Sector & Sovereign Health.