Massachusetts Institute of Technology
Sign in

What Can We Learn From Related Industries?

08/12/2004 3:15PM Wong Auditorium
Scott Sarazen, Senior Vice President, Life Sciences, MassDevelopment; Andrew Parece, Vice President, Analysis Group/Economics Analysis Group, Inc; Tamsin S. Randlett, Senior Director, Government Affairs, Gap Inc. ; Stephen M. Sammut, Venture Partner, Burrill & Company

Description: In some ways, the pharmaceutical industry is unique from other industries, its upfront R&D costs, for instance are extremely high. But these panelists see some commonalities with other business sectors, and offer observations and counsel to drug manufacturers. Andrew Parece focuses on the trade of high tech goods, such as software, digital cameras and DVDs. There are difficulties controlling the free flow of these goods, and their prices, across borders a challenge the drug industry also confronts today. Parece suggests that pharma companies "leverage their competitive advantage 'to differentiate products, and turn offerings into products and services such as patient assistance and education, and disease management." Tamsin Randlett of Gap, Inc. deals more with issues on the manufacturing end. The Gap outsources clothing production to companies in parts of the world where wage and labor standards lag. To respond to concerns about equity and human rights, Randlett partners with international labor organizations and NGOs. She suggests pharmaceutical industries similarly "leverage world health organizations 'to bring greater credibility to your efforts" and sit down with politicians, even those opposed to industry positions. Stephen Sammut's venture capital group invests in the biosecurity business. Just as in drug manufacturing, biosecurity involves risky and expensive R&D, licensing and liability questions, and unpredictable market size. Since "northern hemisphere concerns about biosecurity are the daily disease burden of many countries in the southern hemisphere," says Sammut, one answer to the pricing problem may be creating drugs useful for both markets simultaneously.

Host(s): Sloan School of Management, MIT Sloan School of Management

Comments (0)

It looks like no one has posted a comment yet. You can be the first!

You need to log in, in order to post comments.

MIT World — special events and lectures

MIT World — special events and lectures

Category: Events | Updated 2 years ago

Created
December 13, 2011 11:18
Category
Tags
License
All Rights Reserved (What is this?)
Additional Files


Viewed
4706 times

More from MIT World — special events and lectures

Entrepreneurship, Government, and Development in Africa

Entrepreneurship, Government, and D...

Added 6 years ago | 01:15:00 | 11782 views

New Insights into Technology, Innovation and Entrepreneurship

New Insights into Technology, Innov...

Added 6 years ago | 01:16:00 | 4298 views

Afghanistan: Mending it Not Just Ending It

Afghanistan: Mending it Not Just En...

Added 6 years ago | 01:25:00 | 6688 views

The Next Giant Leaps in Space Exploration

The Next Giant Leaps in Space Explo...

Added 6 years ago | 01:39:00 | 23203 views

Institutions vs. People: Will the Species Self"Destruct?

Institutions vs. People: Will the S...

Added 6 years ago | 02:11:00 | 4589 views

Deploying Our Gifts for the Betterment of Humankind: What would Dr. King Say about Us?

Deploying Our Gifts for the Betterm...

Added 6 years ago | 00:18:03 | 7618 views