From The Cutting Room Floor: December 2016 Issue
What 13 Life Science Trendsetters Expect For 2017 And Beyond
When Life Science Leader magazine asked executives to participate in our signature 2017 Outlook issue published in December 2016, the response was overwhelming. While we thought last year’s issue was big, this year’s was even bigger. Last’s year’s cover feature involved nine of biopharma’s biggest trendsetters. This year, we gained participation from 13 life science leaders! But one of the challenges such a positive response creates is it makes it impossible to publish all of this great content. The solution we came up with was to create four Cutting Room Floor articles. In part one of this series we pose the question, “What U.S. trends are going to have the biggest impact on biopharma in 2017 and why?” We hope you enjoy this supplement to the Life Science Leader magazine’s December 2016 cover feature. In addition, be sure to check out part 2 of this trendsetter series: How Biopharmas Are Addressing Key Trends For 2017.
What U.S. trends are going to have the biggest impact on biopharma in 2017 and why?
Stanley Crooke, M.D., Ph.D., Founder, Chairman, CEO, Ionis Pharmaceuticals
The cost of healthcare will continue to be a trend that influences the biopharmaceutical industry for decades. Remarkably, generic firms, which spend a substantially lower fraction of revenue on R&D, have led the trend to price gouging. Other than expressing outrage, Congress will have little impact. The battle will be fought by payors, as well as perhaps by some state and country governments located throughout the world.
What global macro trends are going to have the biggest impact on biopharma in 2017 and why?
Ruud Dobber, Ph.D., President AstraZeneca U.S., EVP AstraZeneca North America
Having just come from leading our European region, I’ve seen how it is increasingly important to demonstrate the value innovative medicines can bring to patients and healthcare systems. It’s no longer enough to have clinical data to get medicines approved. You must also justify why medicines should be reimbursed. In the U.S. we are seeing similar dynamics, a key trend being accelerated by healthcare reform. As a result, each healthcare system stakeholder is seeking to improve delivery of cost effective, high-quality care that improves outcomes and overall patient health. Yet at the same time patients are being asked to take on more of their healthcare costs. There are no easy answers to the challenges facing healthcare today, but we all have a role to play in finding the balance between what medicines cost and the value they bring.
Michel Vounatsos, EVP and Chief Commercial Officer, Biogen
Now that the election is past, we need to focus on regaining public trust and more effectively demonstrate the value we bring to healthcare. At Biogen, we have increased our emphasis on understanding the needs and challenges facing healthcare professionals, patients, and other key stakeholders, going “beyond the pill” to be true partners to those living with or treating disease. As a leader in MS, for us this means using our medical and technological expertise to help doctors and patients address the daily challenges they face. This also means proactively finding better ways to demonstrate the value of our medicines, so payers can understand their impact and patients can continue to have appropriate access. We need to be open to working together in new ways; our medicines can be part of the solution to improve a shared goal of quality outcomes.