A panel of pharmaceutical executives were discussing innovation when one of them half-jokingly stated, “The challenge is that everyone wants to innovate, but nobody wants to be first.” For a regulated industry such as ours, bringing groundbreaking discoveries before regulatory bodies for approval is no easy task, and, certainly, being first can be daunting.
However, innovation is not limited to new scientific or technology products. Organizational structures, processes, and approaches to leadership can all be innovative, and many innovations are the result of smart people trying to solve problems.
Here, we examine better, more innovative ways of doing things, from accelerating the start of a new project to how service providers can help CFOs in pharma companies controlled by private equity. We look at the process of seeking Emergency Use Authorization and its ties to a morning sickness drug administered in the 1950s and provide some problem-solving wisdom from Dr. Tom Ingallinera.