According to STAT News, “it’s time to give up on pharmaceutical companies acting in the public interest over their shareholders’ interests and to start focusing on the systems that enable this behavior.” This is wrong and defeatist.
There are 3,025 Biotechnology businesses in the US as of 2023, an increase of 7.2% from 2022. From 2019 to 2021, venture capitalists plowed $35 billion into biotech companies with advanced platform technologies that could transform the industry. Should you join a small biotech company?
There are too many good people working within the pharma industry to consistently be the subject of darts from the media. We need to be the change we want to see and put patients back at the center of everything we do. It can’t always be about the stock price and CEO salaries.
Big companies hire ‘professional managers. The problem is they knew how to manage… but too often don’t know how to do anything without weeks of meetings and PowerPoints. Steve Jobs said, “you know who the best managers are? They’re the great individual contributors who never want to be a manager… but decide they want to be a manager because no one else will be able to do as good a job as them.
As the cost of capital increases, Silicon Valley venture capitalists will be busy amidst a period of consolidation and transformation of healthcare startups. Venture capital firms will dictate investor-friendly terms to companies that find themselves in the unfortunate position of raising capital in this environment to launch new drugs.
According to a new report, About 63 percent of healthcare and pharmaceutical industry professionals in North America expected disruption to digitalization initiatives in their business units due to inflation. That’s a massive load of horse shit!
The pharma industry, at least in the HCP and DTC areas, is on a path to self-destruction. Why is the industry so slow to adapt and learn and do what’s necessary to help online health seekers make informed and educated decisions? Why aren’t organizational changes implemented in a culture of “decisions by meetings”?
By portraying itself as a company with a heart, not just a lust for profits, McKinsey appeals to younger, idealistic students concerned about global warming, inequality, and racial justice. McKinsey has consulted for at least nineteen pharmaceutical clients — all subject to FDA regulation, but those companies may have paid a HUGE price.