The Reinvention of Pharma

The industry should be reinventing about 70 percent of its portfolio every ten years with new medicines because products go off patent and you need to bring in new products.

The Reinvention of Pharma

No Industry is perfect and neither is the pharmaceutical industry.  And no individual company is perfect.  There have been examples of hyper-marketing in our industry.  There are fewer and fewer of those as we go in to the future for two major reasons.  Number one, the industry is becoming very sophisticated about the importance of making sure that their medicine, their new medicines, when they come out, they come out in stages.  So that the side effect profile of the drug could be better understood before it’s made available to a very large number of people.  So you don’t get bad surprises later on.


Secondly, the regulatory and the science environment has gotten a lot better.  The FDA is now very, very good at finding early signals and immediately informing patients about these signals in new medicines.  And the ability to detect signals has also gone up dramatically in the last two decades.  So you will see fewer examples of hyper-marketing as we go forward.  The other question is the industry not being able to innovate fast enough.  This is a good criticism.

And the industry should be reinventing about 70 percent of its portfolio every ten years with new medicines because products go off patent and you need to bring in new products.  And more recently that ratio has gone down below 70 percent.  But now the industry is coming in with new innovation tools that allow you to come in with a very specific, very potent, and very cost-effective medicines for narrower groups of people through genomics.  And with these new innovation tools, we hope that the industry can now start a new wave of reinvention and have new products go on for the next 20 or 30 years. 

In Their Own Words is recorded in Big Think's studio.

Image courtesy of Shutterstock

COVID-19 amplified America’s devastating health gap. Can we bridge it?

The COVID-19 pandemic is making health disparities in the United States crystal clear. It is a clarion call for health care systems to double their efforts in vulnerable communities.

Willie Mae Daniels makes melted cheese sandwiches with her granddaughter, Karyah Davis, 6, after being laid off from her job as a food service cashier at the University of Miami on March 17, 2020.

Credit: Joe Raedle/Getty Images
Sponsored by Northwell Health
  • The COVID-19 pandemic has exacerbated America's health disparities, widening the divide between the haves and have nots.
  • Studies show disparities in wealth, race, and online access have disproportionately harmed underserved U.S. communities during the pandemic.
  • To begin curing this social aliment, health systems like Northwell Health are establishing relationships of trust in these communities so that the post-COVID world looks different than the pre-COVID one.
Keep reading Show less

Study: Medieval arrows were as damaging as gunshots

A study by UK archaeologists finds that longbows caused horrific injuries similar to modern gunshot wounds.

Injury to the right tibia caused by a puncture wound.

Credit: Oliver Creighton/University of Exeter
Surprising Science
  • UK archaeologists discover medieval longbows caused injuries similar to modern gunshot wounds.
  • The damage was caused by the arrows spinning clockwise.
  • No longbows from medieval times survived until our times.
Keep reading Show less

Skyborne whales: The rise (and fall) of the airship

Can passenger airships make a triumphantly 'green' comeback?

R. Humphrey/Topical Press Agency/Getty Images
Technology & Innovation

Large airships were too sensitive to wind gusts and too sluggish to win against aeroplanes. But today, they have a chance to make a spectacular return.

Keep reading Show less

Vegans are more likely to suffer broken bones, study finds

Vegans and vegetarians often have nutrient deficiencies and lower BMI, which can increase the risk of fractures.

Credit: Jukov studi via Adobe Stock
Surprising Science
  • The study found that vegans were 43% more likely to suffer fractures than meat eaters.
  • Similar results were observed for vegetarians and fish eaters, though to a lesser extent.
  • It's possible to be healthy on a vegan diet, though it takes some strategic planning to compensate for the nutrients that a plant-based diet can't easily provide.
Keep reading Show less
Scroll down to load more…
Quantcast