Shaking Up Biotech/Pharma: Can Cues Be Taken from the Tech Industry?

Abstract

The biotech and pharma (biotech/pharma) industry is in dire need of finding ways to increase efficacy, efficiency, and affordability of its products. The information and technology industry (“tech”) industry, which is an industry similarly founded on inventions and innovation, may provide some food for thought. This perspective will demonstrate the shift that biotech/pharma is already making and will propose that the industry has an opportunity to compel change by adopting some aspects of the tech industry with regards to models for technology/product development and leadership attributes.