AimsMonitoring drug safety in real‐world settings is the primary aim of pharmacovigilance. Frequent adverse drug reactions (ADRs) are usually identified during drug development. Rare ones are mostly characterized through post‐marketing scrutiny, increasingly with the use of data mining and disproportionality approaches, which lead to new drug safety signals. Nonetheless, waves of excessive numbers of reports, often stirred up by social media, may overwhelm and distort this process, as observed recently with levothyroxine or COVID‐19 vaccines. As human resources become rarer in the field of pharmacovigilance, we aimed to evaluate the performance of an unsupervised co‐clustering method to help the monitoring of drug safety.MethodsA dynamic latent block model (dLBM), based on a time‐dependent co‐clustering generative method, was used to summarize all regional ADR reports (n = 45 269) issued between 1 January 2012 and 28 February 2022. After analysis of their intra and extra interrelationships, all reports were grouped into different cluster types (time, drug, ADR).ResultsOur model clustered all reports in 10 time, 10 ADR and 9 drug collections. Based on such clustering, three prominent societal problems were detected, subsequent to public health concerns about drug safety, including a prominent media hype about the perceived safety of COVID‐19 vaccines. The dLBM also highlighted some specific drug–ADR relationships, such as the association between antiplatelets, anticoagulants and bleeding.ConclusionsCo‐clustering and dLBM appear as promising tools to explore large pharmacovigilance databases. They allow, ‘unsupervisedly’, the detection, exploration and strengthening of safety signals, facilitating the analysis of massive upsurges of reports.