The Optimist Club: What Big Pharma R&D Execs are Doing to Save the Industry

The output of pharmaceutical industry R&D is at an all-time low. But Big Pharma R&D execs say better times are coming soon. What do they know that everyone else doesn't? Optimism plays well with lots of key constituencies-including FDA, which is being spared public criticism on the state of R&D portfolios.

"I’m a romantic and an optimist," Pfizer Inc. ’s new global head of R&D, Martin Mackay, told The RPM Report’s FDA/CMS Summit for Biopharma Executives in December. That much was clear from his upbeat assessment of the state of industry pipelines. And he didn’t stop there: "This is the golden age of drug discovery."

This is the golden age? The Food & Drug Administration approved just 17 new molecular entities in 2007, the lowest...

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