Fen-Phen Disaster to Top Pharmaceutical Term Paper
- Length: 7 pages
- Sources: 6
- Subject: Medicine
- Type: Term Paper
- Paper: #42853501
Excerpt from Term Paper :
Wyeth may have been prescient in recognizing the need to break the mold in pharmaceutical research: the old model of heavy, expensive and long research projects (with a concomitant high rate of failure) needed to be addressed. Also, the earlier emphasis on the industry in finding the "next blockbuster" is now giving way to the new realities of smaller niches, more specialized products, and shorter product development cycles.
Wyeth Rated Best in Pharmaceutical Industry on the Wall Street Journal Patent Scorecard
Madison, N.J., August 9, 2007 - Wyeth (NYSE: WYE) announced today that the August 7, 2007 issue of the Wall Street Journal® Patent Scorecard ™ ranks Wyeth first among 35 global pharmaceutical companies evaluated for patent-based intellectual property, as measured by indicators including patents granted; quality of patents; Science Strength™, or the degree to which a company's patent portfolio is linked to core science; Research Intensity™, a comparative measure of the level of basic research; and Innovation Cycle Time™, or the speed at which research results in patent assets. Wyeth's score on the Science Strength component was 9801.08, compared to 7334 for the nearest competitor, and Wyeth outperformed the industry average by more than two fold on the Research Intensity measure. The Scorecard also compares stock performance for the leading company vs. The industry.
Wyeth has made considerable effort to increase its scientific strength via ongoing investment in our people, technology and resources, with an ultimate goal of delivering to patients and doctors two new medicines each year," says Robert R. Ruffolo, Jr., Ph.D., President, Wyeth Research and Development and Senior Vice President, Wyeth.
In 2006, Wyeth spent approximately $3.1 billion on research and development, with programs focused on small molecules, vaccines and biotechnology. Wyeth is exploring more than 60 new therapies for medical conditions such as diabetes, breast cancer, multiple sclerosis, HIV and schizophrenia. Also, Wyeth is the only major pharmaceutical company exploring three technical platforms for Alzheimer's disease therapeutics: small molecules, biotechnology proteins and vaccines.
Wyeth adopted an enhanced research and development productivity model in 2001. Since then, the Company has advanced 75 new molecular entities from discovery research into development, including 15 in 2006 alone; filed more than 60 investigational new drug applications, including 12 in 2006; and filed four major New Drug Applications in 2006.
Information about the Patent Scorecard can be found at www.PatentBoard.com.
Wyeth is one of the world's largest research-driven pharmaceutical and health care products companies. It is a leader in the discovery, development, manufacturing and marketing of pharmaceuticals, vaccines, biotechnology products and non-prescription medicines that improve the quality of life for people worldwide. The Company's major divisions include Wyeth Pharmaceuticals, Wyeth Consumer Healthcare and Fort Dodge Animal Health.
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Feick, K. "Pharmaceutical Industry Faces Multiple Challenges - Future lies in Drug Pipeline Sustainability." Medical News Today 26 May 2005: n.p.
Frankel, a. "The Fen-Phen Follies." The American Lawyer (2005): n.p.
Herper, M. "Wyeth's Diet Drug Risk Gets Fatter." Wall Street Journal 16 May 2003: n.p.
Lau, T. "OECD countries spent more on health since 1970, OECD report says." Science Business (2006): n.p.
Nagle, M. "Wyeth boosts pipeline with three deals." DrugIndustry 2007: n.p.
Scherer, FM et al. Pharmaceutical R&D Costs, Risks and Rewards. Darby: Diane Publishing, 1993.
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Wyeth. "Drug Creation Process." 2007. Wyeth Corporate Website. 21 October 2007 www.wyeth.com.
Will be referred to as Wyeth in the rest of this paper
Chronic disease medicines are by far the most profitable. Lipitor and other statins are lifelong drugs to reduce cholesterol; as a group, they are the largest-selling medicines in the world. Previous to statins, anti-depressants were the largest-selling (again, because people took them for many years).
This has been extensively studied in many OECD countries. As examples: Canada-- (Cremieux) and across the OECD-- (Lau)
This was the combination of two Wyeth drugs, Pondimin and Redux, which were combined with a third drug to make Fen-Phen. Source: (Frankel)
In fact, Wyeth's overall exposure to lawsuits has ended up…