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Study: Forget the 'Blockbusters'
A study whose results were reported December 8 asserts that the pharmaceutical industry's “blockbuster” approach to developing new drugs is no longer viable in today's marketplace. The study, conducted by Bain & Co., a business consulting firm with offices in 19 countries, found that the costs for discovering, developing and launching each new drug had risen to $1.7 billion, an increase of 55% over the average costs for the 5 years from 1995 to 2000. Driving costs upward, the study reports, are declining R&D productivity (one drug compound for every 13 discovered and placed in clinical trials now makes it to market, compared to one in eight between 1995 and 2000), rising costs of commercialization, increasing payor influence (including aggressive patent challenges) and shorter exclusivity periods. These rising costs are expected to drive down investment returns.
One of the co-authors of the study, Ashish Singh, director of Bain's Global Healthcare Practice, opines that large pharmaceutical concerns will need to abandon their present drug development models if they are to remain competitive, but they have thus far failed to do so because they are “prisoner[s] of past successes.” The study suggests that a better strategy for pharmaceutical product development would include increased use of partnerships to spread risk, a more customer-driven approach and development of a more decentralized organizational model based on discrete business units.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.