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Traditionally, companies have put shareholder return at the heart of the R&D process and ‘risk’ is assessed predominantly by fi nancial metrics. Companies need to rebalance this assessment incorporating a wider range of metrics which look at data on clinical effi cacy and impact on patient outcomes as well as fi nancial data
4 Bring the customer and patient to the heart of the R&D process
Adapting to the changing healthcare ecosystem requires that companies start assessing the ‘value’ of a project from a patient perspective as early as possible in the R&D process.
Decisions should be made based on the ability to meet an unmet medical need, a realistic assessment of scientifi c output, and an approximation of the impact that an effective treatment will have on a patient’s health and wellbeing.
Traditionally, companies have put shareholder return at the heart of the R&D process and ‘risk’ is assessed predominantly by fi nancial metrics. Companies need to rebalance this assessment incorporating a wider range of metrics which look at data on clinical effi cacy and impact on patient outcomes as well as fi nancial data.
Technology platforms should be designed which can synthesize this range of data and track the ‘value’ of a product along the development pathway, from initiation to phase IV. This will allow companies to make project decisions which are more aligned to what patients and regulators are looking for, namely treatments that have, and can demonstrate, a marked impact on patient’s quality of life.
5 Develop an environment that attracts and retains world-class scientists
Scientists are motivated by scientifi c discovery and the publication of their research in peer reviewed journals. Pharmaceutical companies need to foster this environment for scientists if they intend to recruit and retain top talent. The co-location of facilities to top academic institutions is also increasingly important as it not only allows for cross- pollination of ideas through a broader network, but also encourages collaboration, which is vital to successful innovation.
© 2014 KPMG LLP, a UK limited liability partnership, and a member fi rm of the KPMG network of independent member fi rms affi liated with KPMG International Cooperative, a Swiss entity. All rights reserved.
FOCUS 21
About the survey
• Over 2013-2014 KPMG surveyed 19 global pharmaceutical companies. • 58 percent of companies have annual revenues over US$5bn. • 42 percent have revenues over US$25bn. • 74 percent of respondents hold senior executive or C-level positions.
For the full report
To fi nd out more, please contact:
Chris Stirling
Global Head of Life Sciences KPMG in the UK
+44 (0)20 7311 8512
christopher.stirling@
kpmg.co.uk
R&D INNOVATION
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