Myrtle Potter

The pharmaceutical industry is facing the Perfect, Category 5 Storm: pipelines, patents, pricing and profits, are all converging in a manner that makes many gravely concerned. Here are a few facts:

Currently 40% to 60% of industry pipelines are comprised of drugs that are externally sourced (in-licensing or acquisition, versus drug that are discovered in house. Approximately $218 billion of current worldwide branded drug sales are expected to come off patent between 2008 and 2015. The ever-growing U.S. healthcare costs means pricing pressures are expected to continue. It is not surprising then, that pharmaceutical company profits are also in decline, with the industry losing its position as the most profitable U.S. industry.

All these factors together create the Perfect, Category 5 Storm that has the potential for widespread and lasting damage to the pharmaceutical industry.

Yet, this perfect storm isnt just about pipelines, patents, profitability, and pricing. Its mostly about patientsand the inability of the pharmaceutical industry to meet their medical needs. A large proportion of the medications available dont work for large segments of patients. Drug adverse reactions remain a leading cause of death in the U.S. despite efforts aimed at making drugs safe. This results in tremendous waste in terms of healthcare spending, human quality of life, and life itself.

So where does this vital and important industry find shelter from the storm? In this stimulating talk, Myrtle shares her views on what the pharmaceutical industry must do NOW to regain its position as a strong, innovative, leading business sector. She will also speak candidly about why she believes we should all be concerned. Change will not be easy and certainly it is not for the faint of heart. But, change is essential if this sector is to regain its place at the forefront of value creation for patients and investors.