Science deserves all the credit it gets, and more, for driving this industry. Still, no science succeeds without a certain application of what we broadly call art. Inside the scientific discipline, many arts apply-the art of experiment, the art of planning, and the art of free association among them.
The returns are in, and they are not pretty. Janus Funds' billion-dollar investment in WebMD in 2000 now has a net value of roughly ten cents on the dollar, and many observers see WebMD as a winner in their space-whatever that space is now.
The European Medicines Evaluation Agency (EMEA) has promised to get tough with pharma companies if they fail to follow its rules for reporting product side effects. It may resort to naming and shaming those that do not comply and could even prosecute offenders.
Kiln, a Lloyds of London underwriter, has come up with a novel way for pharma companies to mitigate the risk of patent challenges: insurance. Kiln created a policy for a big pharma company covering a number of patents and trademarks the company considers essential for its future profitability.
As the fanfare over the sequencing of the human genome fades, the spotlight turns to the "shovel and pans" companies offering the tools investors are betting on to make "gene to drug" a reality.
Products in Trouble
Washington DC-In addition to launching an ad campaign backing adoption of a Medicare drug benefit, PhRMA is expanding its state lobbying efforts to block local prior authorization requirements. As more states face huge shortfalls in Medicaid budgets because of declining revenues and rising healthcare costs, they seek to cut spending on prescriptions. That means more restricted formularies and rebate requirements, with prior authorization imposed on doctors to limit prescribing of therapies that fail to offer sufficiently attractive deals.
Canberra, Australia-The Australian Pharmaceutical Manufacturers' Association has denounced calls from the country's media and some of its doctors to drastically curtail drug promotion. APMA chief executive Alan Evans says any such move would severely affect the healthcare of millions of people in Australia and could even result in premature death.
GSK Faces Bribe Charges, Changing of the Guard
As a chemist, a vice-president, and just about everything in between, Sarah Harrison has spent 25 years delivering business excellence and predicting the impact of radical changes in the healthcare environment. Now she leads AstraZeneca in its own multi-faceted transformation.
New markets are a pharmaceutical company's dream. And China, with a population of 1.3 billion-and new membership in the World Trade organization-could be the pharma industry's dream come true. The country's projected growth rate of 1.1 percent per year, which will increase its pharma market by at least $50 million annually, in addition to an increasingly prosperous population with a greater awareness of health-related issues, make the market extremely attractive. (See "People Power,")
Capetown-In March, ruling on a case initiated by the Treatment Action Campaign, Save Our Babies, and the Children's Rights Centre, Judge Chris Botha ordered the South African government to provide the anti-retroviral nevirapine to all HIV-positive pregnant women.
After months of stalemate between the White House and Senate democrats over the appointment of a new FDA commissioner, Health and Human Services secretary Tommy Thompson took a shortcut February 26 and named Lester Crawford deputy commissioner. The move allowed Crawford to start work at FDA immediately, skipping the lengthy Senate confirmation process.
Ed Calesa knows women-or rather, he understands the female market. After starting his career as marketing research manager for Roche, he co-founded Health Learning Systems in 1971 and pioneered the use of continuing medical education as part of the healthcare promotional mix. There he developed and implemented two of the earliest and most successful initiatives targeting female baby boomers. Launched during the drive for women's liberation in the swingin' seventies, Calesa's campaigns helped open a dialogue between opinion leaders and women, addressing contraception and the use of formula for newborns. During nearly 20 years in that position, he gained an
Eli Lilly recently joined the growing list of pharma companies offering discount card programs for Medicare beneficiaries in an effort to "do something now" to help low-income seniors afford medicines. Although Lilly chairman Sidney Taurel voiced support for a broader drug benefit for the elderly-as do his pharma colleagues-he described the LillyAnswers program as "quick relief" while the Medicare-reform debate continues.
A new report by Médecins Sans Frontières (MSF) scotches the myth that the most effective forms of malaria treatment are too expensive for East African countries.
Perseverance furthers. Those two unadorned words from the ancient I Ching were all that first entered my startled mind as I accepted the Oscar of business-to-business media-the Grand Neal Award.
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Pharmaceutical Executive won the prestigious Grand Neal Award at the 48th annual Jesse H. Neal National Business Journalism Awards.To find out more, click here.
GSK in Hot Water
Most people experience at least one event that changes the direction of their lives. For George Rosenkranz-the man who made "the pill" possible-it was a stopover in Cuba. In 1941, he was on his way by boat from Switzerland to a position as a professor of Organic Chemistry at the University of Quito in Equador. But the ship that was scheduled to pick him up in Cuba never came. Pearl Harbor had been bombed, and the world changed. So Rosenkranz-stranded on the island-went to work for a pharma company.
Pfizer's $20 million donation of the long-acting antibiotic Zithromax (azithromycin), which is effective against trachoma with a single annual oral dose, has propelled the worldwide effort against the disease into its second phase
Hard on the heels of the June 2000 announcement that the human genome sequence was completed came a wide array of articles on genomics' impact on drug discovery and development
How quickly the promise of pharmacogenomics and other medical miracles materializes may soon depend more on war-driven politics than science. Only free exchange of scientific information in public arenas such as peer-review journals makes progress possible. But now in the United States, long an avatar of freedom and progress, the government's war on terror threatens to subjugate that tradition in a new culture of secrecy.
Washington DC-As part of its continuing investigation into competition and intellectual property rights, the US Federal Trade Commission and the Antitrust Division of the Department of Justice recently kicked off a series of hearings.
t a January meeting in Geneva, the Global Fund to fight AIDS, Tuberculosis, and Malaria (GFATM)-set up last year by an alliance of private donors, nongovernmental organizations (NGOs), foundations, national governments, and intergovernmental organizations-elected its directors, announced its funding criteria, and approved its first call for funding proposals.
Even though FDA officials and company executives maintain that Purdue Pharma hasn't violated any rules governing pharma advertising, critics who want to ban the sale of the painkiller OxyContin complain about the company's promotional excesses. At a hearing before the Senate Health, Education, Labor and Pensions (HELP) Committee in February, patient advocates blamed soaring abuse of the medication on company sales and advertising activities.
The spread of counterfeit products around the world has alarmed companies and international agencies and prompted them to accelerate efforts to address the problem
Executives at Enron aren't the only ones feeling the heat. ImClone's CEO and COO-brothers Samuel and Harlan Waksal-recently got an ultimatum from Bristol-Myers Squibb: Step aside and let BMS take Erbitux (IMC 225) through the approval process, or it will terminate their agreement. The Waksals refused, and BMS backed down-for now.
During the 2000 US election, prescription costs-especially for seniors-was a hot issue that both parties offered to resolve. Intervening events have since distracted the federal government from domestic healthcare issues, leaving states to take the initiative in lowering drug expenditures. Two states' programs led the way, drawing legal challenges from the pharmaceutical industry. Recent opinions by US courts of appeals in those cases reached conflicting results; but viewed together, they provide guidance for the types of state plans that will be sustained. Meanwhile, other programs are making their way through state legislatures around the country.
