Innovation: Defined by the Customer, Not by Pharma
All drug company executives agree that innovation is the answer to the industry's woes-R&D productivity, pricing, perception, the lot. But they differ on what innovation means.
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Novartis' deal on COPD compound AD 237, co-developed by Vectura and Arakis, proves that low-risk "re-profilers" can win big bucks. But the program must be right, and so must the partner's portfolio. It isn't about the technology-it's about the product.
New reference price groups will include both patented and off-patent substances within the same class. Proving true innovation will be the only way to command premium prices. That won't be easy.