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Pharmaceuticals Industry Strategy Group

 

 

 

 

The pharmaceuticals industry is global in scope, with a value chain that is similarly global:
? promising research is sourced from wherever it emanates
? pre-clinical research is generally conducted in suitably scaled units located close to head
   offices or large commercial business units

? clinical trials are conducted by appropriately qualified investigators based at suitable

   hospitals and research centres around the world, placing a premium on speed, cost and

   quality
? medicines are developed for global markets and manufactured for global networks of large

   scale production sites for international markets

? there is intense competition for capital, for skilled resources, and for research prospects

   that have the potential to become useful medicines.

 

For most of the last three decades, the pharmaceuticals business model has been based
on vertically integrated multinational corporations (MNCs) developing ‘blockbuster’ medicines from in-house resources. Over the past decade, this model has become more fragmented under the increasing pressure of costs and duration of drug development, falling R&D productivity, the rise of new technologies, the increasing ability of smaller companies to monetise their intellectual property without first having to commercialise a product, and increasing competition from generic medicines when patents expire.

Many originator pharmaceuticals companies are increasingly looking to reduce the risk and cost of drug development by in-licensing or acquiring potential drug targets from smaller, highly specialised biotechnology companies. These smaller biotechnology companies not only offer prospective biological agents that might be useful human therapies, but also offer expertise in a range of technologies valuable to larger pharmaceuticals companies, such as the identification of new drug targets and biomarkers to aid in development of small molecule and biologic medicines. The market for research driven pharmaceuticals, biotechnology
and medical science sectors-in terms of the business models they adopt, capital markets, and intellectual property regimes-has been evolving during the past two decades to support this dynamic industry model.

Biotechnology will play an increasingly important role in the drug development process, and the companies and research institutions that possess these technologies will represent a growing proportion of the industry’s innovation effort. Australia is well placed to exploit this accelerating trend, with around 470 specialist biotechnology companies that can act as providers of new product opportunities and technological expertise to pharmaceuticals companies in their quest to develop new drugs.......계속