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It’s an expensive und exhausting run against time: It takes approximately 2,3 billion Dollars and 12 years to bring a drug to the market. This leaves only 8 years until the expiration of the patent to bring back sufficient return on investments. So far, this has worked out well for the industry but the run is getting steeper every year: on the one hand, it becomes increasingly complex and expensive to develop new drugs, on the other hand prizes are under scrutiny. Hence, the industry is sitting on a time bomb, as the day will come when the returns will not cover the investments anymore and the innovation pipeline will dry out because bringing new drugs to the market does no longer offer any financial incentives.
What can be done about this scenario? Eventually (and hopefully), these projections prove wrong as there is still a lot to be gained by efficiency improvement through digitalizing all along the value chain – after all healthcare still is one of the least digitalized industries. Will this be enough – or do we have to reinvent healthcare innovation in a radical new way?
This DayOne Experts Event showcased some game changing ideas and discussed their feasibility and impact with an expert panel and the audience. These slides are just the intro to this Event.