It looks like somebody in Big Pharma would like to change the situation with modern inefficient approach in drug development process:
Quote:
One of the key reasons for this lack of success was that “we were very siloed”, Mr Viehbacher argued, saying that collaboration is vital and companies need to go where the science is. This view was echoed by Paul Stoffels, Johnson & Johnson’s chief scientific officer, who said that if there are no biotech companies, “the pharmaceutical world will not survive”, adding that there is almost universal backing for collaboration being the only way forward.
Don't spend billions on drug sure to fail
Dr Stoffels noted the staggering amounts spent on drugs that have failed to get to market, adding that pharma knows it cannot afford to spend more billions on a product that it knows is going to fail. He also argued that nearly every new drug developed today involves 30 new technologies, warning that we must recognise that innovative technology has to be paid for, and urged regulators to collaborate with firms on accelerating approvals and access to medicines.
Mr Viehbacher told attendees that “no-one here wants us to stop spending billions of dollars” on research, but the lack of reward needs addressing urgently. He added that “we are going to have to reconcile patent length” with the time it takes to develop a drug, as currently the “clock starts” when a molecule is registered, though development could take 20 years, as is the case with Sanofi’s dengue fever vaccine.
Dr Stoffels noted the staggering amounts spent on drugs that have failed to get to market, adding that pharma knows it cannot afford to spend more billions on a product that it knows is going to fail. He also argued that nearly every new drug developed today involves 30 new technologies, warning that we must recognise that innovative technology has to be paid for, and urged regulators to collaborate with firms on accelerating approvals and access to medicines.
Mr Viehbacher told attendees that “no-one here wants us to stop spending billions of dollars” on research, but the lack of reward needs addressing urgently. He added that “we are going to have to reconcile patent length” with the time it takes to develop a drug, as currently the “clock starts” when a molecule is registered, though development could take 20 years, as is the case with Sanofi’s dengue fever vaccine.
End quote.
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