Posted by Nitin Mittal on October 10, 2016
Pharmaceutical companies have operated the same way for decades. Conduct R&D, run clinical trials, endure the regulatory gauntlet, and swing for a home run. This blockbuster-driven business model has produced miracle drugs and flops, winners and losers. And now, it’s going away.
Instead of investing in drugs whose success hinges on risky bets with their inevitable boom or bust cycles, pharma companies are pivoting to a precision medicine-based model–developing drugs to impact a specific patient’s malady or condition.