By Dan Schell, Editorial Director, Life Science Leader
While giving the commencement speech at Arizona State University last month, President Obama said that, although graduating from college was an important milestone for the students, they should not rest on their laurels. “Your body of work is yet to come,” he said.
Some people would argue those words are as pertinent to today’s pharma industry as they are to those new graduates. As a life science executive, though, you may scoff at such a theory, citing the era of blockbuster drugs as the undisputed apex of success for the industry. While that may indeed be true from a financial standpoint, it doesn’t diminish the fact that the current economic climate is likely to produce widespread changes that will redefine success for pharma and biopharma companies alike.
In this issue of LSL, you’ll find numerous examples of articles that include experts prognosticating on the future of the life sciences industry and the effects of the economy. For instance, well-known analyst and financial advisor Steven Burrill outlines the three things he believes are driving the sea change occurring in today’s life sciences industry (p. 8). On page 12, Dr. Leslie Glick describes why his VC (venture capital) stimulus spending plan needs to be implemented to boost life sciences innovation. There are also articles on how the economic downturn has changed dealmaking (p. 24) and what effects the proposed Obama stimulus plan will have on the pharma industry (p. 30). From talking to you, our readers, we know that these types of topics are valuable to you — especially now. We know that you’re not resting on your laurels; you’re looking for new ideas, good advice, and solid insight. You’re constantly thinking about what’s next and how it will affect your business. And perhaps, with the economic changes upon us, you’re thinking your body of work is yet to come.