In this presentation and discussion, Brian will introduce his latest book “New Drugs, Fair Prices: Managing the Pharmaceutical Innovation Ecosystem for Sustainable, Affordable New Medicines”.
This work is driven by the fear that the polarized debate around the pricing of innovative medicines threatens the breakdown of the social contract between pharmaceutical innovators and wider society. Brian asks the question “What do we need to do to have innovative medicines at affordable prices, on an economically and socially sustainable basis?”
Brian proposes that the medicines we get and the prices we pay are emergent properties of pharmaceutical innovation’s complex, adaptive ecosystems. If we are to have affordable new medicines, we must understand and manage that ecosystem holistically and be wary of atomistic interventions with unintended consequences. To this end, he describes the pharmaceutical innovation ecosystem’s seven interconnected habitats, their failings and what needs to be done for the ecosystem to meet society’s needs. Brian’s extensive research and findings are focussed on the USA, the world’s most important pharmaceutical market, but have global relevance.
New Drugs, Fair Prices will be relevant and interesting to anyone with an interest in health policy and especially its connection to the life sciences industry. It offers a non-partisan, wide-ranging assessment of the issues involved and makes recommendations to guide the many inhabitants of the pharmaceutical innovation ecosystem who must participate in its management.
Brian D Smith spends his days trying to understand the pharmaceutical, medical technology and other life sciences industries, with the intent that they better contribute to the improvement of human life. He has worked in this industry for over 40 years, first as a research chemist and executive, then as an academic, author and advisor.
Brian is an Adjunct Professor at SDA Bocconi, Italy and the University of Hertfordshire UK. He has published over 300 articles and papers and 8 major books, including the newest, “New Drugs, Fair Prices”, in November 2022. His research focuses on the application of Darwinian evolution to the life sciences sector, especially towards understanding the speciation of its business models and the differentiation of their traits, capabilities and organisational routines. Working with companies in the sector, he advises their efforts to adapt to their changing sociological and technological environment.
Brian lives in the UK with his wife, three daughters and Luqa the whippet. For fun, he plays saxophone badly and cycles around the lanes of Hertfordshire, but not at the same time.