Collaborative Engagement on Biopharmaceutical Partnerships

Collaborative Engagement on Biopharmaceutical Partnerships

04.01.14 | By Gabriela Lavezzari

This month, the Institute of Medicine released a summary of a workshop I participated in that addressed the critical role of collaboration within the biopharmaceutical industry. As part of this program, academia, providers,  industry professionals, patient advocates and government regulators shared their perspectives as we established best practices on how to best manage conflict of interest and how transparently we engage in research partnerships that keep the needs of the patients front and center. 

The need for collaboration has developed from the intensive nature of biopharmaceutical research.  Recent medical advances have increased our understanding of disease and enhanced our research capabilities, but the application of research has proven to be incredibly expensive and time-consuming. Estimates suggest that bringing a new drug to market requires at least $1 billion and takes more than 10 years. Through increased public-private partnerships, the pharmaceutical industry has been able to share ideas that reduce redundancies and speed up the research and development (R&D) process.  Collaboration among all players in the pharmaceutical industry makes it possible to accelerate new medicine and disease research, determine new drug targets, access new bodies of knowledge, develop biomarkers for directed medication use and discover new uses of previously approved medications.

Collaboration within the medical research field is proving to be essential in the advancement of medical innovation. When the many voices in the medical research community come together, innovative practices are discovered and researchers are best able to help improve the lives and health of patients.

 

 

 

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