Defining innovation in a changing healthcare landscape
08 September 2014
The business model that has served the pharma industry so well for 20 years has become expensive and slow. But digital technology and Big Data, says Filip van Elsen, might help the industry reboot its relationship with patients and loosen its dependence on old-fashioned blockbuster drug development.
Developing a new drug costs billions of dollars. That investment is, of course, worth it if the developer can negotiate the lengthy development, clinical trials and approvals process, and successfully bring a patented product to market.