RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Asia is rapidly becoming a new frontier for drug development as Western companies seek to develop and register their products, while emerging Asian companies seek new capabilities to globalize products.
However, to fully capitalize on the opportunities, the industry will have to abandon its current model and move to a new model of drug discovery and development which embraces multiple strategic partnerships.
“The rapid ascent of Asia, with its access to fresh capital and willingness to discard old assumptions is injecting new life into global drug discovery and development,” writes Dr. Kureishi and he predicts, “Within the changing landscape, we call the New Health, patient empowerment and market access considerations will be the drivers of innovation and a rebalancing of medical need and commercial considerations will occur.”
However, Dr. Kureishi makes the case that for this to take place; the industry has to radically change its business model.
“This new model will transform from a linear structure, in which one firm owns all of the pieces, to one of multiple partnerships, with a focus on collaboration instead of control,” says Dr. Kureishi. “The model can be represented by a ‘wheel and spokes’ with companies such as a full-service CRO or a large biopharma at the center of the wheel, outsourcing many of the tasks it previously performed in house. In this model, the biopharma company and CRO will play a more strategic role in clinical drug development and help foster innovation.”
Service firms, specializing in clinical research, will become more important in clinical drug development, not only from a contract service provider prospective, but also as experts with deep global experience in strategic drug development. With a cross-industry view of trends, these service companies will be ideally positioned to evaluate risks and make informed decisions within partnerships.
This collaborative model has potential to drive drug development forward in an entirely new way. By reimagining roles and relationships within the larger value chain, companies that focus on their strengths while partnering in other areas are very likely to thrive in this new landscape.
Download the white paper, Asia: A new frontier in strategic drug development, at www.quintiles.com/perspectives.
Amar Kureishi, M.D., FRCPC, is Vice President, Chief Medical Officer and Head of Strategic Drug Development Asia, Quintiles. He has over 20 years of experience in industry and academia. Prior to joining Quintiles, Dr. Kureishi was Global Head of Medical Affairs for all therapeutic areas worldwide for Bayer and has held several leadership positions in medical affairs and clinical development with Bayer across different geographies including Europe and Asia-Pacific. Dr. Kureishi was trained as a physician and infectious disease specialist at the University of Alberta in Edmonton, Canada. He also is a Fellow of the Royal College of Physicians and Surgeons of Canada (FRCPC) and held several academic positions at the University of Calgary, Canada prior to joining industry. Dr. Kureishi has published more than 60 articles in peer-reviewed journals and is an alumnus of INSEAD.
Quintiles is the only fully integrated bio pharmaceutical services company offering clinical, commercial, consulting and capital solutions worldwide. The Quintiles network of more than 20,000 engaged professionals in 60 countries around the globe works with an unwavering commitment to patients, safety and ethics. Quintiles helps bio pharmaceutical companies navigate risk and seize opportunities in an environment where change is constant. For more information, please visit www.quintiles.com.