A conversation with Kenneth "Eric" Milgram, Ph.D., Principal, Applied Scientific Consulting and the creator of the Pharma Conduct blog, former Director, Systems Biology Technologies at Wyeth Pharmaceuticals/Pfizer, about what happens to pharmaceutical companies when they put Wall Street expectations ahead of science-driven innovation.
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Why is it that a high-end grocery store like Wegman's can go 94 years without having any layoffs and almost every month you hear about layoffs in the pharmaceutical industry?
According to a DataMonitor report, twenty-two large-scale M&A events (defined as those valued above $5 billion) will have occurred within Big Pharma over the period 1995 to 2014. In this same period, Big Pharma prescription pharmaceutical sales are forecast to increase from $84 billion to $381 billion. Two-thirds of Big Pharma sales growth over a 20-year period (1995 to 2014) will be driven entirely by M&A activity, according to this report.
But at what cost to future innovation?
That's about how this match will play out folks... point and counterpoint! We hope to have a lively, yet somewhat civilized, discussion as the staunch Republican libertarian "Chairman" takes on the Uber-liberal critical "Pharmaguy" in a no-holds-barred head-to-head matchup!
Please tell us how Pfizer's acquisition of Wyeth affected you.
Don't you think it is a good idea to eliminate redundancies that result from mergers and acquisitions? After all, it saves the company money.
How do you see M&A's affecting innovation in the drug industry? What's the link?
Is research paying off for big pharma companies or is it a losing proposition?
Eric is a formally trained analytical chemist with more than 10 years of experience in the pharmaceutical and biotech industries. Most recently, he was Director of Systems Biology Technologies for Wyeth, where he managed groups in Collegeville, PA and Cambridge, MA. Eric is currently the owner of Applied Scientific Consulting, which helps clients mitigate technology related risks.