A large pharmaceutical company needed a research platform that provided all the external information the firm required to keep up with industry developments in real time. The company was looking for a one-stop solution for various research sources, including broker research, company filings, and press releases.
While moving to a comprehensive research solution was the critical need, the organization was also hoping to streamline its research process and gain both resource efficiencies and cost savings.
During the trial period, FactSet’s client support team focused on leading numerous virtual and in-person training sessions while simultaneously transferring the users’ existing processes over to FactSet. Working closely with the FactSet team, the firm’s analysts were able to replicate their custom models and broker research entitlements seamlessly, facilitating the transition to the new system.
The company quickly recognized the benefits of FactSet’s robust Broker Research application, which allowed them to access all the research they rely on while opening the door to a wider range of new content. Dedicated analysts within the firm rely on FactSet’s transcripts of earnings calls, conferences, investor briefings, and special events to gather competitive insights. If FactSet did not have coverage of a specific event that the firm was interested in, they could simply request that it be added, and that request was fulfilled within one day.
The firm was also able to take advantage of FactSet’s unique proprietary content. By building custom models incorporating FactSet’s pharmaceutical industry data, including sell-side analyst estimates for branded and pipeline candidate drugs, the company was able to automate tasks that had previously been extremely time consuming.
FactSet met the market research needs of the firm’s internal analysts through the integration of our extensive industry and macroeconomic data. As a result, FactSet is currently being used across many levels within the organization, from junior analysts to senior executives. Due to the efficiency gains and cost savings it has realized, the company is likely to expand its deployment of FactSet, so FactSet will continue to be a valued partner to this large pharmaceutical company.