Tuesday, September 6, 2011

A novel idea

What if pharmaceutical companies focused on developing successful drugs instead of just focusing on the number which actually get into development? Any good business plan wants you to focus on the end success as a criteria for success.

Astra Zeneca has changed the way they do business. They are now focusing on the number of drugs that actually gain approval and can be sold. They are doing this by consolidating their research and by getting feedback from insurance companies which want to reimburse doctors and hospitals for things that improve the 'standard of care'.  These are items which help reduce complications and the need for additional care.

I am actually some what amazed that an industry which claims their research and development costs are so high and force them to charge such high prices have only been looking at the number of drugs which are developed. But I am pleased to see that this is change in an industry which has contributed their share to high healthcare costs. I hope that other pharmaceutical, medical device, and other health care companies, also start focusing on the end result and look at how their research is structured.

1 comment:

nancyspoint said...

Well, it seems like focusing on end results is a "no-brainer." Isn't that what matters most?

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