Pension funds highlight the importance of collaboration to pharmaceutical companies
A report, sponsored by three pension investment funds the USS (British), ABP Investment (Dutch) and OPERS (American), who between them have US $20 billion invested in healthcare, has been released offering one view on the future research and development structure of the pharmaceutical industry.
Pharmaceutical companies representatives on the group that wrote the report were drawn from AstraZeneca, Bayer, GlaxoSmithKline, Johnson & Johnson, Novartis, Nova Nordisk and Pfizer. Investors in the industry were represented by F&C Investments, GE Asset Management, Pioneer Investment Management Ltd and Mehta Partners.
The report reiterated the common arguments that the pharmaceutical industry needs to shift its research and development programmes away from the blockbuster business model towards a greater focus on targeted therapeutics and that the industry will move closer to a payment by results business model.
Of more immediate interest was the investors' enthusiasm expressed in the report to learn more about the pharmaceutical industry's collaborative ventures and how knowledge gained from such partnerships might be applied to risk-sharing with diagnostic and medical device companies and healthcare payers in the future. According to the report, risk-sharing initiatives between pharmaceutical and diagnostic companies could help reduce the risks inherent in research and development as well as decrease the cost of healthcare delivery.
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