Titled, “Winning the New Innovation Game,” Balan focused on the “changing landscape of the pharmaceutical industry and why we need a new innovation platform.” He pointed out many of the well-known challenges faced by pharmaceutical manufacturers that spend upwards of $900,000 and take nearly a decade to get a new product from the idea stage to the patient, including regulatory approvals, clinical trials, etc.
“This is a nightmare for companies,” he said. “The model has to be disrupted, and a new paradigm is needed,” he declared.
