It’s no secret that the pharmaceutical industry is suffering. With too few breakthroughs and stagnant finances, the stocks of some of the industry’s biggest players, including Pfizer and Merck, are down 40% from a decade ago. The industry has cut 300,000 jobs in the last ten years as the number of new drugs making it to market slowed to a trickle.
Bernard Munos, 61, who worked in sales for 30 years at Eli Lilly, has spent the past decade studying pharmaceutical innovation. He thinks he has an answer to what ails Big Pharma: Cut research and development.