Global Conference 2008 | Is the Pharmaceutical Well Drying Out? How to Keep New Drug Discoveries Coming
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Panel Detail:
Monday, April 28, 2008 2:30 PM - 3:45 PM
Is the Pharmaceutical Well Drying Out? How to Keep New Drug Discoveries Coming
Speakers:
David Agus,
Director, Spielberg Family Center for Applied Proteomics; Research Director, Louis Warschaw Prostate Cancer Center, Cedars-Sinai Medical Center
Murray Aitken,
Senior Vice President, Healthcare Insight, IMS Health Inc.
Frank Douglas, Senior Fellow, Ewing Marion Kauffman Foundation
A slide dramatically illustrates that despite rising R&D expenditures, fewer new drugs are being approved.
Pharmaceutical firms have produced a string of blockbuster drugs that can save lives and alleviate suffering. But lately their discovery model appears to be drilling dry holes. Despite rising research and development budgets, fewer therapies are receiving FDA approval. With many high-profile drugs about to come off-patent, the industry's current business model appears to need an overhaul. Researchers are trying to tackle more complex diseases, but why haven't new drug-discovery tools (such as high-throughput screening) improved productivity? This panel of experts tackled this question, along with other key issues. How can new technologies pull risk forward, allowing failure to occur in the earlier clinical stages, when costs are lower? How might the FDA approval timeline be condensed to reduce costs? How will the research and development model be structured and financed among the major players? Will multinational pharmaceutical firms work more collaboratively with biotech firms, universities, private research labs and government research facilities? What can be done to foster innovation that saves lives?
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