Thursday, August 19, 2010
Master Plan for a new Product
In Alexander N. Christakis boo, “How People Harness Collective Wisdom and Power to Construct the Future in Co-Laboratories of Democracy” ISBN 1-59311-481-8 the article case study that caught my eye was Master Plan for a new Product, Context for Drug Development.
The issue with any new drug being developed is the time span and cost involved. The case study states 12 to 15 years from start to when we will see it on store shelves and a price tag of 350 to 500 million. Imagine the cost savings in both lives and money if even 6 months could be shaved of this process. Even 6 months would lower the cost of development, which in turn would lower the cost of the drug when it hits the market and lower the negative cost associated with the disease being treated in more ineffective ways. By using an SDP approach to the Front-End work when developing a new drug improves collaboration among the key decision makers in the project. As most of the time when developing new drugs the Front-End work is the most time consuming and therefore offers the most return and need for improvement.
The issue with any new drug being developed is the time span and cost involved. The case study states 12 to 15 years from start to when we will see it on store shelves and a price tag of 350 to 500 million. Imagine the cost savings in both lives and money if even 6 months could be shaved of this process. Even 6 months would lower the cost of development, which in turn would lower the cost of the drug when it hits the market and lower the negative cost associated with the disease being treated in more ineffective ways. By using an SDP approach to the Front-End work when developing a new drug improves collaboration among the key decision makers in the project. As most of the time when developing new drugs the Front-End work is the most time consuming and therefore offers the most return and need for improvement.
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