ELI LILLY`S SIDNEY 온라인카지노 신용카드 랭킹: `TAILORED THERAPEUTICS` ? THE PHARMACEUTICAL INDUSTRY`S NEXT BLOCKBUSTER?
From Knowledge at Wharton
As Sidney 온라인카지노 신용카드 랭킹 prepares to retire as chairman and CEO of Eli Lilly, he predicts that significant changes at all levels of the health care industry will affect doctors, payers and patients alike. "I believe that the years ahead will amount to revolution much more than evolution," 온라인카지노 신용카드 랭킹 says.
"It will not happen overnight, but we are already moving toward the barricades and headed toward a new business model," 온라인카지노 신용카드 랭킹 says. Headquartered in Indianapolis, Ind., Eli Lilly has approximately 40,600 employees and more than .6 billion in sales. The company's top-selling drugs include Prozac, Cialis, Evista and Darvocet.
But the new business model for companies like Eli Lilly will likely move away from production of such "blockbuster" drugs and instead will focus on highly individualized solutions for patients, according to 온라인카지노 신용카드 랭킹. It will emphasize therapies that work more often than not, as well as therapies that have a very clear benefit, thereby creating a more integrated system with greater economic and medical value. While some have dubbed the changes in health care "personalized medicine," 온라인카지노 신용카드 랭킹 prefers the term "tailored therapeutics."
Revolutions occur due to necessity and opportunity, or "push and pull," 온라인카지노 신용카드 랭킹 says. "T온라인카지노 신용카드 랭킹 push is a set of conditions that make change necessary, and t온라인카지노 신용카드 랭킹 pull is t온라인카지노 신용카드 랭킹 revolutionaries who seize t온라인카지노 신용카드 랭킹 opportunity to create a different order, one that is an improvement over t온라인카지노 신용카드 랭킹 old one."
온라인카지노 신용카드 랭킹's talk of a revolution is timely, given that the pharmaceutical industry has seen the rate of drug approvals slow during the first half of this decade, even as it continues to face the challenges of rising costs, expiring patents and competition from generics.
The ultimate promise of tailored therapeutics is about "the individual patient, and we are prepared to stake our business on realizing that promise," 온라인카지노 신용카드 랭킹 says of Eli Lilly.
Health care costs are growing at an unsustainable rate, with an aging population as the driving force, according to 온라인카지노 신용카드 랭킹. "Already, there are more people in Europe who are over 40 than under 40," while the median age in Europe is predicted to reach 50 by the year 2040.
Meanwhile, lower birth rates in t온라인카지노 신용카드 랭킹 developed world have caused an inversion of t온라인카지노 신용카드 랭킹 age pyramid, with too few younger, working people to 온라인카지노 신용카드 랭킹lp pay for t온라인카지노 신용카드 랭킹 medical services being used by a growing older population. As t온라인카지노 신용카드 랭킹 median age rises, so does t온라인카지노 신용카드 랭킹 price of 온라인카지노 신용카드 랭킹alth care.
"Indeed, turning the pyramid upside down wrecks the traditional model of health care payment," 온라인카지노 신용카드 랭킹 says, adding that Medicare faces an unfunded liability of trillion over the next few decades.
Another cause for concern: The value of health care products is coming into question, 온라인카지노 신용카드 랭킹 adds, citing recent survey results showing that only 22 percent of consumers believe branded prescription drugs present a good value compared with more than 60 percent of consumers who think generic drugs are a good value.
T온라인카지노 신용카드 랭킹 practice of medicine remains too much of a trial-and-error process that has not maximized t온라인카지노 신용카드 랭킹 efficacy of prescription t온라인카지노 신용카드 랭킹rapies, which work about half t온라인카지노 신용카드 랭킹 time for t온라인카지노 신용카드 랭킹 most common diseases, 온라인카지노 신용카드 랭킹 says.
"When our industry is better able to target our products to the patients who will really benefit, then our value proposition will surely grow," says 온라인카지노 신용카드 랭킹. "When medicines are used more optimally to reduce the trial-and-error nature of health care, then fewer resources will be wasted and the cost of health care will be sustainable."
온라인카지노 신용카드 랭킹 challenges the widespread notion that the key to the tailored therapeutics revolution is unlocking the secrets of the human genome. "Genomic medicine certainly serves to extend and, hopefully, to accelerate our goals, but the promise of this revolution is actually much broader and much more deeply rooted," he says.
He uses "biomarkers" -- or biological indicators -- as an example of one of the many modern advantages that will help drive the tailored therapeutics revolution. "Biomarkers are more pervasive and sophisticated than ever before, and they are coming into play in much earlier stages of drug development," 온라인카지노 신용카드 랭킹 says, noting that Eli Lilly now has biomarker strategies in place for nearly all molecules at the earliest clinical development stage.
Important benefits of biomarkers include the ability to weed out unpromising molecules early in the game, compress development times, run smaller and more focused trials and explore secondary indications earlier. "We hope that some of the beneficial effects of widespread biomarker indication will be shorter cycle times and lower costs in drug development," 온라인카지노 신용카드 랭킹 says.
Recognizing t온라인카지노 신용카드 랭킹 difference between tailored t온라인카지노 신용카드 랭킹rapeutics and personalized medicine is important, 온라인카지노 신용카드 랭킹 adds. 온라인카지노 신용카드 랭킹 describes tailored t온라인카지노 신용카드 랭킹rapeutics as a larger concept that encompasses t온라인카지노 신용카드 랭킹 many different types of personalized approac온라인카지노 신용카드 랭킹s to medicine.
"A good tailor's abilities go well beyond alteration," 온라인카지노 신용카드 랭킹 says. "T온라인카지노 신용카드 랭킹 custom-made suit is his ultimate creation."
온라인카지노 신용카드 랭킹 cites examples of Eli Lilly's work in tailored therapeutics, such as its use of new technology in protein engineering to design a molecule that could reach a large percentage of non-Hodgkin's lymphoma patients who don't respond to current therapy. Eli Lilly is also working to help doctors better identify patients who can benefit from specific treatments. All these efforts, while achieving the primary goal of practicing good medicine, also create a more stable financial environment in the health care industry. "Good medicine lines up with good business in every case," 온라인카지노 신용카드 랭킹 says.
Despite his optimism about the future of tailored therapeutics, 온라인카지노 신용카드 랭킹 acknowledges that some in the industry worry about the current business model being overturned -- specifically, that the lack of blockbuster drugs will reduce big pharma's ability to pay for the next generation of research and development.
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