Top 10 Points from Steve Burrill’s Talk At BIO 2012 Presenting His State of the Biotech Industry Report

  1. The general theme was ‘The New Austerity’.
  2. There are several crises facing the industry and country: the end of the blockbuster drug era, poverty and its impact on disease, dysfunctionality of the healthcare system, the European debt crisis.
  3. Governments are cutting spending on drugs or mandating reduction in drug prices, e.g. by requiring generic drugs to be available.
  4. An increase in biologic drugs is taking place.
  5. There is increased uncertainty in patenting given Prometheus and patent reforms.
  6. There is the question of who is going to pay for healthcare and reduction in R & D spending that is taking place.
  7. It is becoming tougher to innovate, but it is necessary to move from treatment-based to prevention-based healthcare.
  8. New models for innovation are appearing, such as the collaboration between pharma and academics.
  9. Emerging markets are becoming a magnet for pharma and biotech investments.
  10. The wastefulness of big pharma is being recognised.  Most drugs only work for at best 50% of the population, the worst being cancer drugs which can be up to 75% ineffective.
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