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Blog/Pharma/Biotech News

Improve Big Pharma Productivity? Read Here

Quick post about 3 relevant pharma news stories:

1. Over at Forbes.com Bruce Booth gives a very thoughtful post about how he would improve big pharma’s productivity and R&D woes.He believes there has to be a radical change in the big pharma structure.  One possible solution he mentions, which I agree with, is about upper management and marketing staying out of the scientists way: “The key in this new organization would be to trust your Research teams to deliver impactful medicines, and empower them to do so. ” He sums up that the pharma culture should be “both more entrepreneurial and empowered to take risks, and less encumbered by legacy baggage and short-termist thinking. 

If you are interested in a more informed review about the subject, Derek Lowe writes his thoughts about the Booth post on his blog titled “Reworking Big Pharma“. And be sure to check out the comments.

2. Matthew Herper also at Forbes.com writes about a new study regarding the cost of developing drugs today: ” The Cost of Creating a New Drug Now $5Billion, Pushing Big Pharma to Change“. The cost for a single drug company is $350 million, but big pharma has to cover many failures and this is what increases the cost for them. Some pharmaceutical companies fared better than others, with Bristol Myers Squib averaging just $3.4 billion.Some strategies are mentioned for reducing this cost: The NIH is getting in the game; companies need to stop holding on too long to drugs hoping for a success. They need to “cut bait” sooner; attacking rare diseases could be lucrative at a fraction of the costs;adopting drugs that were abandoned by other companies; philanthropies can bear some of the early research costs; the FDA is removing some of the red tape involved in getting drug approval; some new technologies, like faster DNA sequencing, might bring down the drug costs. What will next year’s report on the subject bring? My money is on an even higher expense for new drugs.

3. FiercePharma lists the top paid executives in biopharma. Regeneron’s CEO , Leonard Schleifer, tops the list at $30.047 million! Would be sweet to have an executive search at this level. I could retire. Ha!