tag:blogger.com,1999:blog-36634196.post5402394353650155565..comments2023-10-09T11:33:37.853-05:00Comments on The IN VIVO Blog: In Search Of A Golden Mean: Balancing Innovation And Execution In BiopharmaChris Morrisonhttp://www.blogger.com/profile/04075266444951558159noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-36634196.post-47972361713736271962011-04-22T10:39:11.866-05:002011-04-22T10:39:11.866-05:00Thanks, Dr Shaywitz for an interesting and thought...Thanks, Dr Shaywitz for an interesting and thought-provoking piece. You’ve certainly raised many valid and insightful points.<br /><br />I’d suggest that the core reason that our reason our industry has found itself in its current predicament is a very simple one. We’ve behaved in complete contradiction to our stated mission. Over the last decade, virtually every firm has exhausted us with some perfunctory but disingenuous vision statement along the lines of ‘putting patients first’. While in reality, anyone with any reasonably holistic understanding of healthcare delivery can see the obvious - we’ve done anything but ‘put patients first’. <br /><br />A quick look at IMS’ 2010 drug sales report bears witness. It’s dominated by me-too drugs providing very little incremental, clinical benefit and burdened with very high selling costs and discounts for meaningless middle-men and agencies offering little value for the patients we pretend to ‘put first’. This perversion of purpose is often advanced with nebulous concepts like consumerism and empowered patients, etc.<br /><br />What was once the world’s highest margin industry has been converted to one where most P/E ratios trail those of successful packaged goods companies.<br /><br />To really put patients first, we must do the obvious - put resources and talent towards science as opposed to costly and obfuscatory, marketing practices. <br /><br />This will only become more true as an increasingly wired world gains ever greater, ever quicker access to information allowing patients and providers to be authentically empowered.John D Waddell, RPhhttp://tsmassociates.com/noreply@blogger.com