What Are The Greatest Challenges Facing Our Industry, And What Are Companies And Our Industry Doing To Meet Such Challenges?

Source: Life Science Leader

A: ASYMMETRY IN THE PHARMA BUSINESS MODEL. A belief that, unlike R&D, we must continue to own all elements of the commercial model. It’s draining our resources. Commercial success requires analytics, promotion, and contracting among many other diverse functions. Owning these commercial functions “front to back” is suboptimal and should be reconsidered. An integrated commercial model sourcing expertise that can be toggled on/off (akin to CROs) is a logical step. This modular approach would provide highly skilled commercial talent, enhance commercial efficiency, and result in improved return. Ultimately, this model would free up capital to fund clinical innovation and improved patient care. Building greater flexibility into the commercial infrastructure is key to continued success for the industry and providing innovative therapeutic alternatives to patients.

Rich is chairman, CEO, and president of Neuralstem, Inc., a public company (NASDAQ: CUR) enabling commercial-scale production of multiple types of CNS stem cells.