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COOPERATION AND SHARING
In an industry where intellectual property is highly treasured, cooperation between companies has historically been limited. However, the increasing complexity of diseases, along with expensive failures in late-stage projects have put intense pressure on research and development (R&D) teams to fi nd new paths to innovation.
Earlier this year, Johnson & Johnson announced a clinical trial data-sharing model that it hopes will set a new level of transparency in the industry. Researchers from across the sector can access the results of previous trials, saving considerable time and costs. Open source R&D is being pioneered in many countries, to hasten drug discoveries for diseases such as tuberculosis, malaria and HIV.
The life sciences value chain is no longer a simple linear process beginning with R&D and ending with sales visits to doctors. It is now more of a ‘value ecosystem’ with the patient as customer at the centre.
Despite government pledges to reduce expenditure on drugs, potential for growth remains, as in most markets only a small proportion of health budgets is spent on medicines. Earlier diagnosis, combined with tailored therapies could help slow or reverse the onset of chronic diseases, enhancing patient experience and outcomes and reducing the chance of expensive interventions at a later, critical stage. And, with patients taking medication for longer periods, with higher adherence rates, pharmaceutical and life sciences companies should also benefi t from increased drug sales, justifying their new, patient-centric outlook.
© 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.
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