Wizemann, Theresa, Robinson, Sally, Giffin, Robert. "2 Current Model for Financing Drug Development: From Concept Through Approval." Breakthrough Business Models: Drug Development for Rare and Neglected Diseases and Individualized Therapies: Workshop Summary. Washington, DC: The National Academies Press, 2008.
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Breakthrough Business Models: Drug Development for Rare and Neglected Diseases and Individualized Therapies - Workshop Summary
WAYS TO FACILITATE DRUG DEVELOPMENT
Caskey put forth a number of suggestions for overcoming the impediments to new drug discovery and development:
Academic initiatives
The academic research community needs to increase investments in technology that can improve target validation and drug safety.
Government initiatives
Government research funding aimed at addressing health challenges needs to be more focused on forecast morbidity and the cost of care in the United States.
FDA needs to be adequately funded so it can partner with drug developers and direct the research being performed toward answering important regulatory questions.
Private initiatives
Small Business Innovation Research and Small Business Technology Transfer regulations need to be revisited and revised to allow for greater investment.
New incentives for high-risk investors need to be created, perhaps through tax law.
Private disease foundations’ provision of support to the academic community for discovery and to industry for development is beneficial and should be embraced.
Experienced investors need to be brought into the innovation process earlier.
The pharmaceutical industry and academia need to work together to build a stronger U.S. industry.
