Regulations Causing Innovation Failure, Impact Pfizer - Pharmaceutical Technology

Latest Issue
PharmTech

Latest Issue
PharmTech Europe

Regulations Causing Innovation Failure, Impact Pfizer


ePT--the Electronic Newsletter of Pharmaceutical Technology

According to the UK’s Economic and Social Research Council (ESRC), the closure of Pfizer’s UK research and development (R&D) facility, announced last week, is part of a long-term decline in drug development that is affecting all major UK pharmaceutical multinationals. The ESRC blames the decline on “failure of innovative drive in the industry, failure of the UK to support basic research, failure of venture capital to invest in early-stage research, or failure of the Health Service to provide smart procurement.”

In particular, the stunted innovation has been attributed to the “lengthy and expensive regulatory system,” according to an ESRC press statement. Although regulation impacts all products developed by any industry sector, it is significantly felt in the pharma industry, where it affects overall company strategies, which companies succeed and fail, and, ultimately, the entire structure and dynamism of the sector as a whole.

According to research by the ESRC’s Innogen Center, the pharmaceutical industry is approaching a “tipping point” in the not-too-distant future in which innovation will no longer be sustainable. However, “radical reform” of regulatory systems could help to better ensure a productive and profitable pharma sector—both globally and in the UK.

“We do not need less regulation, but smarter regulation that can deliver expected standards of safety and efficacy, and that is flexible enough to respond to new scientific discoveries and do so more efficiently than our current systems within a shorter timeframe,” Professor Joyce Tait, director of the ESRC's Innogen Center, said in the statement.

ESRC believes that radical regulatory reform for the life-sciences industries should be a priority in discussions regarding the industry’s future. “Reform could provide the lever to profitably unleash the creativity that has been so effectively generated from public funding of basic science, leading to something closer to the innovative performance that we have seen in information and communication technologies over the past 20 years,” said the ESRC in the press statement.

See a related blog post on PharmTech Talk, titled, Pfizer Site Closure “Shocking Wake-Up Call” for UK

ADVERTISEMENT

blog comments powered by Disqus
LCGC E-mail Newsletters

Subscribe: Click to learn more about the newsletter
| Weekly
| Monthly
|Monthly
| Weekly

Survey
What role should the US government play in the current Ebola outbreak?
Finance development of drugs to treat/prevent disease.
Oversee medical treatment of patients in the US.
Provide treatment for patients globally.
All of the above.
No government involvement in patient treatment or drug development.
Finance development of drugs to treat/prevent disease.
27%
Oversee medical treatment of patients in the US.
14%
Provide treatment for patients globally.
8%
All of the above.
41%
No government involvement in patient treatment or drug development.
11%
Jim Miller Outsourcing Outlook Jim MillerCMO Industry Thins Out
Cynthia Challener, PhD Ingredients Insider Cynthia ChallenerFluorination Remains Key Challenge in API Synthesis
Marilyn E. Morris Guest EditorialMarilyn E. MorrisBolstering Graduate Education and Research Programs
Jill Wechsler Regulatory Watch Jill Wechsler Biopharma Manufacturers Respond to Ebola Crisis
Sean Milmo European Regulatory WatchSean MilmoHarmonizing Marketing Approval of Generic Drugs in Europe
FDA Reorganization to Promote Drug Quality
FDA Readies Quality Metrics Measures
New FDA Team to Spur Modern Drug Manufacturing
From Generics to Supergenerics
CMOs and the Track-and-Trace Race: Are You Engaged Yet?
Source: ePT--the Electronic Newsletter of Pharmaceutical Technology,
Click here