Tuesday, September 20, 2011

#epatcon Jonathan Richman @jonmrich Elephants can dance and hippos can limbo. What is future for Pharma?

Jonathan Richman of Possible Worldwide:

Possible Worldwide
Elephants Can Dance and Hippos Can Limbo: Fifteen years ago, IBM started to get out of the business of selling computers and now makes most of its money from services such as IT consulting. The market forced them to change and their CEO famously told the story in a book entitled "Who Says Elephants Can't Dance?"
The market for pharma products is changing as quickly and as deeply as the market for desktop and laptop computers did for IBM. The question is whether any pharma companies are ready to make changes to address this reality. In the future, people will turn more towards digital technology to prevent, cure, and treat their diseases instead of relying on pharma companies to come up with some breakthrough, blockbuster drug.

IBM held up as a harbinger of Health/Pharma change.Check out IBM's history in Who says Elephants can't dance.

Pharma such as Lilly and Pfizer have outsourced Research & Development.

Last year the industry spent $60B on R&D to create 20 drugs.

Small innovative companies can create new drugs at much lower cost.

Pharma looking to evolve towards solutions.  This results in things like Glucose meters integrated in to cellphones.

Lots of companies have programs to support their drugs. eg. adherence programs. 

Vitality Glowcaps gets a shout out. Why didn't pharma create this?

Digitizing data is a massive opportunity. Who will combine and curate this data. Is this a space in which Pharma can play.

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