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IS biotech really CREAMY.AND SAUCY? Answer would be : "don't really know". By.agriculture biotech Strong resistance from environmentalists "maybe" by.industrial biotech Promise of bio fuels and bio materials still on paper "definitely yes" by.pharma biotech is pharma biotech so GUNG HO? Fuelling this is. Rising costs of medicines due to rising research costs $ 1. Bio to develop new drug Need block buster drugs with sales potential of 2 bio in
IS biotech really CREAMY.AND SAUCY? Answer would be : "don't really know". By.agriculture biotech Strong resistance from environmentalists "maybe" by.industrial biotech Promise of bio fuels and bio materials still on paper "definitely yes" by.pharma biotech is pharma biotech so GUNG HO? Fuelling this is. Rising costs of medicines due to rising research costs $ 1. Bio to develop new drug Need block buster drugs with sales potential of 2 bio in
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IS biotech really CREAMY.AND SAUCY? Answer would be : "don't really know". By.agriculture biotech Strong resistance from environmentalists "maybe" by.industrial biotech Promise of bio fuels and bio materials still on paper "definitely yes" by.pharma biotech is pharma biotech so GUNG HO? Fuelling this is. Rising costs of medicines due to rising research costs $ 1. Bio to develop new drug Need block buster drugs with sales potential of 2 bio in
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OF THE INSTITUTE OF COST & WORKS ACCOUNTANTSOF INDIA 19TH JAN 2007 K V BALASUBRAMANIAM MANAGING DIRECTOR - INDIAN IMMUNOLOGICALS LTD IS BIOTECH REALLY CREAMY…AND SAUCY ? IS BIOTECH REALLY CREAMY…AND SAUCY ?
Strong resistance from environmentalists “maybe” ………………by……industrial biotech Promise of bio fuels and bio materials still on paper “definitely yes………...by……pharma biotech Already tasting the cream WHY IS PHARMA BIOTECH SO GUNG HO ?
Past research -> Patients differentiated, but not medicines.
30 % do not benefit from generalised medicines. New research -> Medicines differentiated & personalised medicines
The key for this in biotech…..
……understanding life and what drives life at molecular level.
The result so far…..
100 biotech medicines $ 85 bio market in $ 500 bio pharma market ( i.e 17%) 350 drugs in pipeline Growing at 15% p.a as compared to market growth of 9 % p.a WHY IS PHARMA BIOTECH SO GUNG HO ?
Fuelling this is..
Rising costs of medicines due to rising research costs
$ 1.1 bio to develop new drug Need block buster drugs with sales potential of 2 bio in 3-4 years New drugs… “old wine in new bottle ?” Drying up of product pipeline Biotech offers a paradigm change Niche segments to start with, but potential busters. IS PHARMA BIOTECH SO SAUCY ?
Not really…
Understanding life is itself complex, let alone develop drugs
Is not about making a better mouse trap
It is discovery research all the time
Regulatory pathway tedious
….and also hazy and evolving Research expensive Intellectual property ( IPR) thickets to overcome Long lead time to marketing approvals A COST ACCOUNTANT’S ROLE IN PHARMA BIOTECH RESEARCH Few companies keep correct track of research costs per product or activity….. Put sense into researchers Research is a collaborative effort…..Build a cost base for research choices Research is with unpredictable outcomes…..decision trees and analysis MANUFACTURE Direct costs low, indirect costs high………It’s all about proper overhead allocation MARKETING International markets, different regulatory approvals…. cost of market entry and potential benefits not analyzed Pricing decisions not so much on costs of making, but costs of treatment ( individualized)……customer differentiated & treatment costs THANK YOU