Drug development process has increasingly become complex and the process from a new compound from synthesis to obtaining market approval can take over 10 years. The costs are also staggering. It often takes over a billion dollars to develop a drug today. Pharmaceutical industry also has been under increasing pressure to rein in the costs and make drugs more affordable. Big pharmaceutical companies are considering various models to deal with this dilemma.
Various models have been considered with focus on early efforts with developing better understanding of disease pathways, molecular understanding of drug capacities and an increased use of RNAi technology. Some efforts are concentrated on regulatory review times with suggestions to develop separate regulatory pathways, and there is focus on greater use of enhanced technology to reduce late stage failures. Acceptance of the fact that the era of blockbuster drugs is over is also driving the strategic new paradigm of personalized medicine. This strategy is assumed to hold greater appeal to the payers that the therapy is worth reimbursing. Hal Barron, CMO and Executive VP of Global Product Division at Genentech will discuss specific examples highlighting the value and challenges associated with this strategy, in his keynote address at EPPIC Annual Conference on January 9, 2011. For future notices, sign up for e-new letter, and to become a member, go to http://www.eppicglobal.com.