In 2002, we wrote: “By 2010, the pharmaceutical industry will not only make white powders; it will also sell a variety of products and therapeutic healthcare packages that include diagnostic tests, drugs and monitoring devices and mechanisms, as well as a wide range of patient services. Companies that learn how to develop ‘targeted treatment solutions’ will deliver greater shareholder returns than ever before. They will be able to reduce the time it takes from target identification to launch from more than 10 years to between three and five and slash research and development costs by 75 percent.
“But before any of this happens, pharmaceutical companies must dramatically change the way they do business.”
What have we learned since the report was originally published? First, business models already exist that this industry can borrow from others to drive down costs and increase innovation. Second, although it has been difficult for large firms to make the kinds of changes called for, interest in doing so has simply grown over time. That is why we are republishing Pharma 2010. Read this updated report.
