Can Statisticians Have A Higher Impact on Drug Discovery and Development Process?
Frank Shen, Bristol-Myers Squibb Drug Discovery to Development is a ten-year bet industry-wide. Discovery, which includes target identification through clinical proof of principle, accounts for half that time. In the old world, companies were profitable as long as they had occasional winners. But the new world has become much more competitive and tougher. While the development cost for each NCE climbed to at least 800 million, the U.S. Food and Drug Administration approved only 21 new chemical entities (NCEs) last year, marking a steady decline since a peak of 53 in 1996. The process of generating a steady pipeline requires much more predictability and productivity. Companies have rushed to find their solutions by reorganization, consolidation, licensing, and outsourcing. This talk will shed some light on driving forces that change our working environment today and in the future, and share some personal thoughts on how statisticians can “step out of their box” and take more ownership t
