Pharmaceutical Executive-06-01-2003

Point a finger at a map of the United States and try to find a state that's not competing to attract pharma and biotech business. It's nearly impossible. The story is the same in Europe and Asia. Around the world, countries, regions, and cities are trying to build their economies, and the life sciences are a key element in their plans.

Pfizer Chairman and CEO Hank McKinnell sees the company's $58 billion blockbuster acquisition of Pharmacia as the key to Pfizer's leadership in pharmaceutical markets around the globe.

Even among industry insiders, company reputations are hard-earned and subject to change. Rating Research's (RRC) second annual Reputation Strength Study of the Pharmaceutical Industry surveyed financial analysts and industry senior executives to see how 19 companies stack up against each other and to see how their overall reputations changed from last year.

Patient recruitment for clinical trials is one of the most significant bottlenecks in drug development. As a result, several organizations have called for the establishment of recruitment best practices, beginning in 2000 with the Office of the Inspector General's (OIG) report on recruiting human subjects and most recently in a Clinical Research Roundtable report published in the March 12, 2003 issue of the Journal of the American Medical Association (JAMA).

During the next ten years, big pharma companies will need to launch two products a year to generate 5 percent annual growth, five products a year to hit 10 percent growth, and nine products a year to meet a 15 percent annual growth target. Clearly, the stakes are high.

My train reading this week has been Protecting America's Health, Philip J. Hilts' enlightening history of the Food and Drug Administration. It's a book with a strong sense of how politics, people, and the uncontrollable flow of events conspire to shape institutions. It's also a good read, thanks to the author's fine eye for anecdote. Over and over, Hilts selects just the right story to capture the essence of an era in the agency's history.

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