Week in Review: Creating Value Through Innovation

Week in Review: Creating Value Through Innovation

01.11.13 | By

With thousands of medicines currently in development, innovation will continue to be an important topic across 2013. This week, PhRMA President and CEO John Castellani discussed priorities for the industry in a Chain Drug Review piece, emphasizing the endless possibilities that exist by realizing the long-term value created by biopharmaceutical innovation.

"America leads the world in medical innovation. We have an unmatched ecosystem of private and public partners - biopharmaceutical companies, start-up firms, academic institutions, government agencies, venture capitalists and more - all playing symbiotic roles to advance science and bring new health care solutions to patients. It is a resource we can't take for granted," Castellani said in his post.

Along the lines of groundbreaking innovation, Grady Forrer discussed how Harvard Medical School and Massachusetts Eye and Ear are working on a potential new drug for hearing loss that seems to have helped regenerate damaged minute sensory hair cells in the inner ear of mice. Although the drug approval process is long, and treatment for deafness may not happen, what is learned from this work will make an important contribution to fighting hearing impairment.

Additionally, we noted FDA approval of New Molecular Entities (NMEs) in 2012 because this represented the highest number the agency had approved in 16 years. To continue this trend, it is essential to have public policies that support and encourage innovation, in addition to an efficient, consistent and predictable science-based regulatory system.

The innovation dialogue will continue with the release of the Medicines in Development report on biotechnology and biologics at the end of the month. The report will show how medicines developed through biological processes are helping to treat individuals suffering from cancer, cardiovascular disease, diabetes, HIV/AIDS and other infectious diseases.

By all accounts, 2013 is gearing up to be an exciting year for the industry and we can't wait to share it with you. Please don't hesitate to share your thoughts and observations in the comments section below.

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