Pharmaceutical Industry

“It's not something that's really happened in pharmaceutical history that the blockbuster drug of the century gets cut by 80% in 18 months.”

“It is now the case that in many subdomains, China is becoming the scientific leader in biotechnology and in life sciences, and that is a scary thought because ultimately China could end up engulfing the entire pharmaceutical industry and basically becoming the…”

“And in fact, in pharma, you try to avoid peptides because of their inherent weaknesses. You go for small molecules or Really large molecules like antibodies. Peptides are sort of the worst of both worlds.”

“Part of that's because if you're successful, it's, you know, like a 99% margin business. So if you can do it, if you're really bad and it's an 89% margin, who cares?”

“The progress in that domain isn't necessarily limited by intelligence but by other social artifacts. So as an example, and I'm not an expert in this area, but if you think about the pharmaceutical industry, my understanding is, you know, the, one of the main b…”

“It can function in very large companies. We have, for example I have some friends at a at a they're a what is it called? They're doing clinical trials. So they're in the pharmaceutical industry. And I mean, the companies, you know, thousands of people, and it'…”

“They fund politicians directly five times more than the oil industry.”

“50, excuse me, 75% of the FDA is actually not funded by taxpayers. It's funded by pharma itself, and bureaucracies are built to grow.”

“Started with the pharmaceutical industry because pharma said, well, new drug approvals are 500,000 page documents and they really, really, really aren't And we're screwing it up, and every day we screw it up, we lose a day of patent life of our drug, and the p…”

“It also means that the chemicals and materials industry tends to be maybe five or seven years behind the pharmaceutical industry and its adoption of new technologies.”

“If you just look at the cost to bring a drug to market in 1953, It costs forty million dollars for an approval, and that's an inflation-adjusted figure. Today, it averages 2.5 billion.”

“If you look at the pipeline of a hundred drugs that enter clinical development, 10 actually make it to market, and one provides, get this, half the profits.”

“Most drugs, this is also a crazy stat, even after they are approved, do not earn back their R&D costs.”

“Sales and marketing in pharmaceuticals. That is like, 90% men, which I find really not acceptable.”

“Pharmaceutical industry and the medical industry and the hospitals are all in it together to get you onto opioids, painkillers, antidepressants, anti-anxiety medications, anything like that is designed not to help you. It's designed to keep you giving them mon…”

“The pharmaceutical industry and the hospital industry have no incentive to really make it possible to prevent illness because then they would be out of business.”

“What's happened over the last almost three decades now is that ratio has inverted such that today, the last estimate I saw was 70% of the products sold by the large companies have been invented at small companies.”

“And actually, when you look at attrition rates in our industry, really the chances of success that we have, they haven't moved in the last 15 years. Still, when we bring a medicine into human beings, on average, only one out of 20 works.”

“The pharmaceutical industry is a very interesting one where their business model is predicated on the government giving the company, you know, a twenty-year monopoly on different compounds. Therefore, there is an economic incentive for pharmaceutical companies…”

“When you look at spend breakdown the market is, you know, predominantly for outsourced research focused in the pharmaceutical industry. So, So that they control over a hundred billion dollars of spend per year”