In response to:

Don't Let Obama Kill "Pills for Profit"

Wendy60 Wrote: Jan 29, 2013 9:58 PM
That's actually a lot of biotech drugs. The 1.2 billion encompasses all the compounds that failed alongside the development of the one drug - about 10,000 if you count from drug discovery through preclinical trials all the way through the Phase III clinical trial and approval. So a lot of research was being done with that 67 billion. These are also just biotech drugs, not pharmaceuticals. Biotech drugs are a lot more structurally advanced and harder to develop than chemical (pharmaceutical) compounds.

Biotech company Excelixis CEO George Scangos likes to quote oil wildcatter JP Getty when asked about his philosophy for success: “Get up early; work hard; find oil,” he deadpans.

And under the direction of dry-humored Scangos, the San Francisco-based company is drilling a lot of research holes, so to speak.

They have to: Success in the biotech industry is measured incrementally, not in big steps. It’s a cash-and-time intensive industry where success is painstaking, rare and, because of Obamacare and other regulatory burdens from the administration, likely to become even rarer.   

According to Plunkett Research, Ltd in 2010 it...

Related Tags: Obama