"Can We Afford Pharma Innovation?" - IFPMA

Innovation, and the question of whether this is still affordable in the pharmaceutical sector was one of the main themes of this year's International Federation of Pharmaceutical Manufacturers' Associations 17th Assembly, held in Malmo, Sweden.

Glaxo's chief executive Sir Richard Sykes addressed the subject first, noting that the industry's mission is to provide new innovative medicines with which poorly treated or still untreated condition can be treated. "There is no doubting the need for innovation, and of the public demand for medicines which can improve the quality of life and longevity," he said, thus "the key demand conditions are extremely positive."

As far as the supply side is concerned, Sir Richard said he believes that we are entering a period in which the industry's ability to deliver innovation is set to move forward significantly, and that it is in the middle of a revolution in its understanding of the mechanisms of disease. Moreover, the increased interest in medical applications of biology and biotechnology that is being shown by governments, the public and mainstream drug companies is an indication of the growing maturity and commercial potential of science.