Novartis CEO Says Massive Blockbuster Drugs Are Over
In an interview with Fortune, Novartis CEO Joseph Jimenez argues that the solution is to entirely reinvent big pharma's business model, saying that "the definition of a blockbuster is changing."
The business model for large pharmaceutical companies hasn't changed for decades. Now, many blockbusters are losing patent protection, huge companies are losing billions in sales to generic competitors, and despite massive research spending, have few new drugs that look like they will replace ones with expiring patents. Read the full story