Mikael Dolsten, Pfizer head of research and development, who could take on Covid but not Wall Street, to step down. https://trib.al/Wk0GCF6
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How can biopharma companies be prepared for new policy changes in the unpredictable market with factors like the Inflation Reduction Act (IRA) at play? Biopharma companies should anticipate uncertainty and be prepared to react quickly to policy changes. Companies who want to get ahead should invest in tools that can aid in making decisions to respond appropriately to change. Dana P Goldman, co-founder and scientific advisor for EntityRisk and dean of the University of Southern California USC Sol Price School of Public Policy and Jeffrey B. Kindler, former chairman and CEO at Pfizer and executive chairman at EntityRisk discuss the need for tools to build a comprehensive story around drug pricing in today’s market. Kindler asserts that having tools like EntityRisk help biopharma companies combat overreacting to policy changes and address new uncertainty in a “methodical way.” Listen to the full conversation between Dana, Jeff, and Neal Masia here to learn more: https://lnkd.in/dKN8ur8h #CMS #DrugPricing #BioPharma
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“But this is a long-term game, and if you’re trying to deliver long-term value, you try not to make too many short-term decisions.” Having been in R&D, this is refreshing to hear. Often seen has a cost centre, it is a popular candidate for when an organization goes through budget optimization. While that may results in better balance in the book and a better ROI for shareholders in the short-term, it will impact the long term potential. Rather than optimizing budget in R&D, #Biopharmaceutical organization should relook into how R&D activities are carried out. For instance leverage on #DigitalLabs to accelerate R&D cycles, enable faster #techtransfer, and streamlining #manufacturing. All to help ensuring time spent on high potential candidates. That saves time and money, accelerate go-to-market, and finally accelerate ROI. #lifesciences #pharmaceutical #products
Sanofi CEO defends company’s move to abandon profit guidance and boost research
https://www.statnews.com
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Timely and extremely important in the current macroenvironment.
How can biopharma companies be prepared for new policy changes in the unpredictable market with factors like the Inflation Reduction Act (IRA) at play? Biopharma companies should anticipate uncertainty and be prepared to react quickly to policy changes. Companies who want to get ahead should invest in tools that can aid in making decisions to respond appropriately to change. Dana P Goldman, co-founder and scientific advisor for EntityRisk and dean of the University of Southern California USC Sol Price School of Public Policy and Jeffrey B. Kindler, former chairman and CEO at Pfizer and executive chairman at EntityRisk discuss the need for tools to build a comprehensive story around drug pricing in today’s market. Kindler asserts that having tools like EntityRisk help biopharma companies combat overreacting to policy changes and address new uncertainty in a “methodical way.” Listen to the full conversation between Dana, Jeff, and Neal Masia here to learn more: https://lnkd.in/dKN8ur8h #CMS #DrugPricing #BioPharma
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📢 Our latest research, published in Organization Science, sheds new light on critical governance parameters in strategic alliances. This paper is co-authored with Jeff Reuer, Carolin Häussler, and Shivaram Devarakonda 🤝🔍. Grateful nods to our ever-supportive editor, Metin Sengul, and our review team! 🙌 🔑 Key Insights: When it comes to alliances, a key question is: How much decision-making power should be vested in joint steering committees, as opposed to one party calling the shots? And what happens when things go sour? We examined a large sample of biopharmaceutical alliances and found that when coordination is paramount, the parties agree to make more decisions jointly in the joint steering committee. However, when the stakes are high and competition is fierce, one partner tends to have the final say on contentious issues. 💭 Food for Thought: 🤔 Giving one partner a casting vote is a pretty big concession. Think of it this way: Would you agree that your partner is "always right" when you argue? 💬 It is certainly an effective way to end discussions... 💡 Why does it matter? 🌍 Especially since the #COVID-19 pandemic, we all know how critical the effective management of biopharmaceutical alliances is to the development of new drugs. 🦠🔬 Our research isn't just theory - it's a compass that guides managers to make wise decisions and informed governance choices. 🚀 🔗 Access the full article to learn more: https://lnkd.in/eCVe69sN 🚀 The best part? Our publication is available as an open access article and free for anyone to read and share! #ResearchHighlights #StrategicAlliances #CollaborationSuccess #Biopharmaceutials
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From clinical trials increasingly going global and robust R&D spending in MedTech to commentary around biopharma's 'patent cliff' and the effects of the Inflation Reduction Act: our 2024 life sciences industry outlook explores what's ahead for middle market business leaders. #rsmusllp #lifescience https://lnkd.in/ebgcXWnj
Life sciences industry outlook
rsmus.com
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As biopharma companies look to new markets for growth, leaders need to tailor the expansion approach to the nuances of each market. Check out this article, “Key Steps For Improving Biopharma Expansion Into New Markets,” co-authored by my colleagues Ranu Nandy Carroll and Arda Ural, MSc, MBA, PhD. #buildingabetterworkingworld #lifesciences
Key steps for biopharma companies growth in new areas
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The world has seen innovation and acceleration of therapies like the COVID-19 vaccines in ways that are extraordinary. Historically, these therapies took 5 to 10 years to develop. Yet, during the COVID-19 pandemic, society united to achieve the same feat in just 9 months. Charles River played a central role in this, which reinforced its aspirational goal: what if they were able to universally subtract a year or more out of the drug development process? What kind of scalability would that take? What kind of fundamental reimagining of processes would it take? To achieve its goals, Charles River embarked on a transformation into a digital enterprise, providing their pharmaceutical clients with expertise, seamless offerings, and digital delivery. https://lnkd.in/dcR-3JfV #McKinseyTransformation #LeapbyMcKinsey
Charles River Labs: Accelerating drug development as a digitally-enabled trusted partner
mckinsey.dsmn8.com
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The world has seen innovation and acceleration of therapies like the COVID-19 vaccines in ways that are extraordinary. Historically, these therapies took 5 to 10 years to develop. Yet, during the COVID-19 pandemic, society united to achieve the same feat in just 9 months. Charles River played a central role in this, which reinforced its aspirational goal: what if they were able to universally subtract a year or more out of the drug development process? What kind of scalability would that take? What kind of fundamental reimagining of processes would it take? To achieve its goals, Charles River embarked on a transformation into a digital enterprise, providing their pharmaceutical clients with expertise, seamless offerings, and digital delivery. https://lnkd.in/dY6mJh5h #McKinseyTransformation #LeapbyMcKinsey
Charles River Labs: Accelerating drug development as a digitally-enabled trusted partner
mckinsey.dsmn8.com
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⏱ Despite a seemingly ideal climate for biopharma innovation, R&D productivity remains low 🔻 : In 2022, 4,300 clinical trials began, yet industry R&D spending from 2012 to 2022 rose 44% (to $247 billion), while US novel drug approvals averaged 43 per year. Developing a single novel asset now costs up to $2.8 billion. 🔑 Key issues include: 👉 Low success rates (only 13% of Phase 1 assets launch) 👉High development costs (60-70% of total costs) 👉Long cycles (12 years on average) 👉Extended timelines (up to 80% of trials fail to finish on time) 🏎 Speed is critical. Being first to market can mean outsized success, especially with the US Inflation Reduction Act impacting drug prices. For patients, unmet need is acute, with over 6,000 rare diseases lacking therapies and low survival rates for many cancers. Accelerating development by 12 months can add $400 million in net present value and deliver immense benefits to patients. 🚀 The solution lies in addressing these challenges head-on: Improving success rates by leveraging data and advanced analytics. Reducing development costs through innovative trial designs and technologies. Shortening cycle times with streamlined regulatory processes and enhanced collaboration. Together, we can drive change and improve outcomes in biopharma R&D. Join the conversation and share your thoughts on how we can accelerate innovation in this critical sector. ♻️ Repost this to spread awareness. Credit Mckinsey. #Biopharma #ClinicalTrials #R&D #Innovation #DrugDevelopment #Pharma #Healthcare #MedicalResearch #Biotechnology #LifeSciences #Pharmaceuticals #HealthcareInnovation #ClinicalResearch #DrugDiscovery #MedicalInnovation #RareDiseases #CancerResearch #DrugApproval #HealthcareCosts #MedicalBreakthroughs #ScientificResearch #PharmaTrends #R&DInvestment #ClinicalDevelopment #MedicalAdvancements #ResearchAndDevelopment #DrugPipeline #Biotech #PharmaInnovation #HealthcareIndustry #DrugPricing
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