How do post-collection pharmaceutical companies control R&D risks?

In the second half of centralized procurement, how do pharmaceutical companies control R&D risks?

Living in this era, whether you are born in the 70s, 80s, or 90s, you can be said to be happy.
As long as you have a sensitive and kind heart, you will feel the pulse of the times and feel that the great era is coming
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When you are doing some things that your parents have done, you will sigh and feel that your father has done so many small things for you to make you happy
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Under the law of social-psychological-physical health, we also need to pay more attention to health besides the body.
These externalized environments also need to be healthy, but it seems that these cannot be determined by us alone.
There are many, many Social people come to create and work hard
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Most of the research and development of medicine is to solve the problem of human body health
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01 A story more than 20 years ago

More than 20 years ago, when the author was still on the front line of drug research and development, when CRO was introduced, most of the domestic drugs were generic drugs that seem to be relatively simple now, and now as I mentioned in an article not long ago In this era that is wrinkled by new biotechnology, in this era of wireless interconnection and 5G Internet of Everything, artificial intelligence, big data, gene sequencing, virtual reality and other technologies have been applied to the research and development process
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Although so many new technologies and new concepts have been introduced into the research and development process, in fact, there is no real breakthrough in the real process of drug research and development.
Although new concepts have been introduced, preclinical pharmacy has generally entered the clinical trial stage
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The problems of long drug research and development cycle, large investment, and high risk have not been solved well, and there is a growing trend.
Not only is the investment more and more large, the transformation is becoming more and more difficult
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I remember that the most common problem I faced when I was doing drug R&D technology transfer work nearly 20 years ago was that several manufacturers urgently needed new drug projects to negotiate.
They had a long contact, multi-party consultation, multiple rounds of talks, and multi-level research.
It’s hard to make a decision.
At that time, I was on the side of R&D companies.
Of course, I was eager to describe the broad prospects of the results of years of hard work by R&D personnel, and quickly promote them to obtain the best transformation results and let patients as soon as possible.
Use cheap and good-quality new medicines
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Fortunately, at that time, the country had a relatively loose market access environment, and the cost of drug R&D was relatively small, which promoted the growth of some pharmaceutical R&D companies at that time
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To this day, although the current two-invoice system and centralized procurement have promoted the urgency of enterprises for drug R&D and innovation, the requirements for drug R&D are also higher and the cost is greater, and the market environment is more demanding, so we need to use more A lot of wisdom to solve the problems faced at that time: how to evaluate the value of new drugs? How to solve the risk of drug R&D investment?

02 After the centralized procurement, will the plan many years ago still work?

It's the same problem.
I thought of a solution more than 20 years ago
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When I was doing technology transfer, I was suddenly inspired.
I thought that since the big problem in the transfer of pharmaceutical research projects is uncertainty and risk, can it be solved through cooperation with insurance companies? At that time, I made a call to the insurance company
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But maybe this idea was too advanced.
The insurance company employee who answered the phone was dumbfounded and could only reply to me that this insurance company does not have relevant business now.
He could only respond to my thoughts to his superiors and let me wait for a reply.
, Of course, this reply, I have waited for more than 20 years but have not waited
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However, in a very accidental situation not long ago, I found that a company's introduction stated that such an insurance business is developing, but I have not heard of this company's business from many friends who are engaged in CRO.
It must be this.
The business is still at a certain stage
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Let's return to the question of how to evaluate the value of new drugs.
This has always been a difficult point.
I think related insurance is also crucial to solving this problem
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The value judgment of drugs is not just a simple input and output
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First of all, the incidence of cancer is not high, and cancers all over the world are cured, which means that the average life expectancy of people is increased by two years.
Secondly, malignant tumors mostly occur in the elderly.
Most patients are cured and receive a few more years of pensions, which is of little benefit to economic development.
Contribute
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In fact, the impact of treatment of malignant diseases on society is far from simple
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The value judgment of drugs is mentioned here, but in fact, we have mentioned the huge risks of new drug development in the previous lectures.
In this way, investing in new drugs involves a very critical value judgment of new drugs:

U.
S.
pharmaceutical companies and biotech companies have huge differences in the value judgment methods of new drugs.
Usually the latter’s commonly used valuation method is the rNPV system, which not only considers the product pipeline, but also comprehensively considers the development of new drugs, marketing and other aspects.
Factors are more worthy of reference for our country
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But this calculation method is too professional, so I won't repeat it here, just to talk about, in the stock market, why investors are willing to give high valuations to innovative drug companies? It is because innovative drug companies have brought excellent returns to investors
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03 Talk about the first innovative drug again

The potential benefits of the first-in-class drugs for enterprises are huge, they are less subject to market competition, and there is less pressure from the government, public opinion, and supply and demand parties to reduce prices, and they will continue to attract the attention of the capital market
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While we are paying more attention to fair accessibility, we must also focus on reducing the cost of pharmaceutical research.
The requirement to reduce costs requires us to concentrate more social resources and reduce the risk of pharmaceutical research
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First-in-class drugs are often global firsts, and the huge benefits they bring to companies are also reflected in the returns on the global market, and they will also receive the attention of the global capital market
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But at the same time, the first innovative drug is also facing high R&D risks brought about by long R&D time and huge R&D investment.
Therefore, in terms of technology or business model, it can effectively shorten the R&D cycle, save R&D investment or reduce R&D risks.
Enterprises will be favored; and related projects are to focus on solving such problems.
Through related platforms, not only can they escort the creation of new drugs, but also can solve some innovative drug companies with low short-term returns and difficult to achieve income generation.
And profit dilemma
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Table 3.
1 Analysis of the weight of the core competitiveness of pharmaceutical companies

The above is the analysis of the core competitiveness of pharmaceutical companies, and the core competitiveness of R&D of pharmaceutical companies also has four aspects: the ability to select topics and establish projects, the ability to control raw materials, the ability to realize technology, and the ability to register for approval
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The ability to select topics and establish projects has always been the cornerstone of research and development capabilities
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The direction is the most important.
If the direction is wrong, the more perfect the technology, the greater the loss to the company
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The author was first engaged in the comprehensive project establishment work in the R&D company, and I have a deep understanding of this, and in the next 20 years of work, I also paid great attention to how to match and integrate the research and development project with the marketing
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At any time, the topic selection and establishment of pharmaceutical products need to meet two needs at the same time: clinical needs and market needs
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First, clinical needs are fundamental
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Second, there is only clinical demand, no pre-judgment of the market, and no effective market demand, which is also a waste of the company's funds and time
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After selecting the project, determining the technical implementation means, and solving the problem of raw materials, it is natural to register and submit for approval in the end
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The ability to register for approval is the first pass for a technology product to gain market access
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The direct manifestation of the ability of registration and approval is the shorter approval time and lower approval costs
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The above work is critical for enterprises to realize rapid R&D projects at low cost in the early stage, marketization as soon as possible, and reducing risks
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