- Smaller companies achieve higher R&D productivity
- Collaboration with academia key to R&D success
- Diverse projects increase chance of success
Big Pharma is losing the game in drug development. A decade ago, McKinsey & Company sounded the alarm, warning that the biopharma industry was afflicted by “diminishing R&D productivity.” Despite a doubling of investment in research and development, approvals of “new molecular entities” had fallen precipitously (http://nnw.fm/fWT6e). Nothing appears to have changed since then. A recent report by Deloitte laments the continued decline of returns on R&D investment. While R&D costs have generally remained the same, product revenues are falling, in part because many products never make it to “blockbuster” status (i.e. sales of a billion dollars or more). With narrower margins squeezing profits in the industry, these consultants suggest increasing “the number of drug programs to which a pharmaceutical company has access, without increasing, to the same degree, the capital or resource investment required to access them.”
PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) has taken this advice to heart. The health sciences company has three distinct research programs underway. Top of the line is a non-opioid pain treatment based on cannabinoids to be administered through a…
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