Journal
DRUG DISCOVERY TODAY
Volume 26, Issue 2, Pages 308-314Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.drudis.2020.10.019
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After facing challenges of declining R&D productivity and patent cliffs, Pfizer has gradually achieved a turnaround through a decade of transformation efforts, particularly in terms of Phase II success rates.
PERSPECTIVE The pharmaceutical industry has faced declining research and development (R&D) productivity for decades. During the early 2010s, Pfizer saw its R&D productivity drop even more sharply than did its industry peers. As impactful medicines the company had developed and brought to patients in previous years lost exclusivity, Pfizer faced a steep patent cliff with a cumulative revenue impact of >US$28 billion through 2018. Since 2010, the company has embarked on a focused turnaround effort to improve R&D productivity. Although some efforts will need more time to prove themselves, there are early signs of a turnaround now, particularly in terms of Phase II success rates. Here, we share some learnings from a decade of experience as one of the largest R&D organizations in the industry.
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