BIO 2013: It's the outcomes, stupid
This article was originally published in Scrip
The fundamental problem with the pharmaceutical industry’s old business model could be astonishingly similar to the elusive challenge to balance healthcare quality and costs. Different times call for people to be working toward different goals. Biopharma and the healthcare system are working to the wrong goal.
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Two businessmen talked intently sitting at a small white table dwarfed by an enormous video screen probably about 15 feet high and 20 feet wide. Covered in a cold bluish-red electronic glow, their meeting appeared as if it were occurring in New York City's Times Square, at night.
China - specifically its healthcare industry and market - is too often seen through the eyes of the Western companies as a manifest destiny, a promised land for new growth. This view is heavily unidirectional in that this enormous economically growing country is an open frontier upon which they will capitalize by bringing their advanced products.
Executives by and large in the current pharmaceutical industry are not good public speakers, I am now fully convinced. This is a significant result from the trial of rapid-fire, high-density rat-a-tat-tat of 30-minute presentations all day for three days so far at the annual JP Morgan Healthcare Conference in San Francisco.