A special interview with Dr Sophia Ononye as we discuss how AI, nanotechnology and social media can be used to foster collaboration between Big Pharma and the public. 

2019 marked another remarkable year for the life science industry as evidenced by the surge in FDA approvals and M&A deals. Yet, for the increasingly discerning public, there is very little knowledge about these new therapies. The need for public education has never been so dire as a substantial proportion of new drugs are biologics with complex mechanisms of action that are often directed against rare, unknown diseases. Hopefully, the 2020s will mark a focal shift from patent cliffs to open collaboration between industry partners, between academia and the life science companies, and notably, between patients and the life science industry.

If the 1990s or so-called “golden age of Big Pharma” was distinguished by blockbuster small molecules, the 2020’s will showcase niche-busters that are driven by the continued need for life science companies to maintain “first-in-class” or “best-in-class” status. Often, these niche-busters are developed for rare diseases with small patient populations and/or limited therapeutic options, which allows the manufacturer to charge higher prices for these drugs given little competition and a smaller patient population that is willing to pay for novel solutions. However, competition drives innovation and drug affordability.

Starting probably with a bold move by Bristol Myer Squibb to focus its R&D efforts primarily on oncology, it seems that majority of the biopharmaceutical industry are hedging their bets in oncology. There are several reasons why this make sense. In particular, cancers are heterogeneous diseases that differ by tumor type and genetic profiles. Yet, if we use recent FDA approvals as a barometer, it is evident that the two most expensive CAR-T drugs, Kymriah and Yescarta, are for small patient populations. But the innovation behind these therapeutics is clouded by the fairly high price tags associated with them and limited understanding of pharmaceutical pricing dynamics.

Sophia Ononye, PhD MPH MBA

Read the full post here: 

https://sophiaconsultingfirm.com/f/role-of-technology-in-improving-reputation-of-the-life-sciences 

The Sophia Consulting Firm

186 Lenox Road, Suite 4B, Brooklyn, New York 11226

(347) 533-4578