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...
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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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…
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This relationship has an effect on the payment rates that CMS sets. Higher cost pharmaceutical therapies are systematically reimbursed below acquisition cost (i.e., the payment system is biased against full reimbursement for higher cost therapies). Reimbursement compared to acquisition cost for the top IO pharmaceuticals by total expenditures indicates that 9 of the 10 are significantly under reimbursed." Clinical Trials Report: Congress established Medicare beneficiaries numbering 40 million with a prescription
38 per share on the company's common stock for the first quarter of 2005. The dividend is payable January 3, 2005 to stockholders of records at the close of business on December 3, 2004. Growth in the ZETIA and VYTORIN franchises are expected to continue. T There are currently several candidates in Phase III that Merck plans to file in 2005 as well as Type 2 diabetes treatment and three vaccines.
There are two constant irritations in U.S. pharma companies' relationships internationally: Some developing nations, such as India, Brazil and South Africa, are chipping away at the patent situation, trying to shorten the time until the drugs can be brought out in generic form. The U.S. has supported high prices as the cost for innovation. Since other countries are not playing along, this means that their citizens are benefiting from the innovation paid
For example, before its paten ran out, "the price of Schering-Plough's top-selling allergy pill, Claritin, was raised thirteen times over fives years, for a cumulative increase of more than 50%, over four times the rate of general inflation." In 2002, the average price of the fifty drugs most used by senior citizens was approximately $1,500 for a year's supply, and although this refers to what the companies call the
Pharmaceutical Ethics Issues Generally, business ethics is a concept that has not been upheld or exemplified to any high standard by the modern pharmaceutical industry. It is an industry frequently plagued by unethical marketing decisions and practices, the pursuit of business strategies and policies that violate public trust in spirit if not necessarily in the written word, and that has embraced research practices that are sometimes highly questionable. In the modern
Since its inception, the Food and Drug act developed into the Food and Drug Administration, which is responsible for oversight and administration of the rules. Once an application to test a new drug compound has been approved, it must pass a series of tests. Only about 23% of all drug compounds that enter into Phase I ever make it through this phase and into the second phase (Scherer, 2000). This