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Category Archives: Fixing Big Pharma Research
Average Drug Development Cost Now $2.6 Billion
Based on the latest study conducted by the Tufts University Center for the Study of Drug Development, the total cost of developing a drug is, on average, $2.6 billion. That figure includes $1.4 billion in direct out of pocket costs for each … Continue reading
Beware Institutional Mimicry
One of the most common management pitfalls is the trap of institutional mimicry. Companies that are falling behind, or otherwise need to reinvent themselves, look around at the competition and other relevant benchmarks, and try to copy “what works”. But instead of … Continue reading
Posted in Fixing Big Pharma Research, Management
Tagged Apple, institutional mimicry, Microsoft
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Securitization of Biomedical Research
MIT’s Andy Lo has published another article about the securitization of biomedical research, this time proposing a private-public partnership specifically to create therapies for Alzheimer’s disease. Pharmalot interviewed Andy and Derek Lowe has some comments. I heard Andy talk about his proposal at … Continue reading
More thoughts on drug company R&D productivity ranking
[updated] Some comments I received on the previous post made me realize there was a more fundamental flaw in drug company R&D productivity rankings that should be highlighted. Drug discovery is by and large a high failure rate multistep process … Continue reading
Who’s The Best In Drug Research? 22 Companies Ranked Incorrectly
Matt Herper at Forbes has a post on new pharmaceutical research productivity data from Richard Evans, a former Roche executive and Wall Street analyst. Evans calculates metrics such as (1) Economic Returns to R&D spending, (2) Patents / $1M R&D spend, (3) Average … Continue reading
Pharma megamergers — against the spirit of the times?
Here’s more on the Novartis-GSK-Lilly three way deal announced Tuesday. As WSJ journalist Helen Thomas writes, the megamerger chill of dread felt when rumors of Pfizer’s stalking of AZ came to light last weekend may well be exorcized by this … Continue reading
Posted in Fixing Big Pharma Research, Pharmaceutical Industry
Tagged Eli Lilly, GSK, M&A, megamergers, Novartis, Pfizer, Pharmaceutical industry
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Employee Performance Does Not Follow a Bell Curve
Here’s a great post written by Josh Bersin that’s gotten a lot of attention in the past few days: The Myth of the Bell Curve. As I mentioned several weeks ago, more and more evidence shows that employee performance in the … Continue reading
Posted in Fixing Big Pharma Research, Management
Tagged bell curve, Performance management
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Product Cycles in the Pharma Industry and How to “Shorten” Them – Part 1
A few weeks ago I commented on what may be the fundamental limit on a stable Pharmaceutical industry — products have to be on the market for at least as long as it takes to replace them. Cash flow significant … Continue reading
Posted in Fixing Big Pharma Research, Management, Research
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Hitting the fundamental limit of the drug industry?
After a banner year in 2012, the number of FDA Drug approvals dropped back to 27 for 2013, a number more in line with the average rate of approvals for the last few years. As many observers have commented, the … Continue reading
Posted in Fixing Big Pharma Research
Tagged Pharmaceutical industry, Research and development
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Rigid stack ranking of employee performance and pharmaceutical research is a bad combination
Microsoft’s recent decision to abandon employee stack ranking is just the latest example of the growing skepticism around stack ranking performance management schemes, especially ones that force bottom 5-10% distributions. Sadly, some pharmaceutical firms still use the method. The major arguments against stack … Continue reading
Posted in Fixing Big Pharma Research, Management
Tagged Human resources, Microsoft, MIT, Performance management, stack ranking, Yahoo
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MechanizedIntelligence 