In today’s
challenging global marketplace, America’s best competitive advantage is our
proven ability in the area of science and innovation in terms of capturing
value for investors, improving our balance of trade and most importantly,
helping patients around the world. There is no other area in which we
currently have such a clear and commanding lead and at the same time, so many
opportunities are right at our doorstep if we have the will, the right policies
and the funding with which to capture these enormous opportunities.
There are
several keys to our capturing these opportunities and providing the value that
they represent. First, America needs to lead in intellectual property
protection. Patents are the lifeblood of innovation. We need to
provide certainty when it comes to the high risk endeavor of life science
innovation and investment. Rather than debate technicalities, we need to
provide data protection of at least 12 years and after those 12 years, open the
marketplace to all comers.
Second, we
need to continue to strengthen America’s science education programs. We
simply aren’t attracting the numbers of talented young people to go into
science as a career compared to our competitors, particularly in Asia. We
are woefully understaffed in both quantity and quality of science teachers at
the elementary and secondary level. If we don’t address this “talent
pipeline” ultimately our innovation pipeline will run dry.
Third and
very importantly, we need to encourage collaboration. America is the envy
of the world when it comes to biomedical research largely due to the
partnership between government (NIH), academia (our university medical schools
and teaching hospitals) and the private sector (pharma and biotech) all working
together. We need to be fast and flexible in technology transfer to allow
the collaboration to deliver the fruits of this partnership in a more timely
and efficient manner. There is no better current example than in the
field of oncology where as we move to personalized medicine, where cancer
patients will be given based on their genotype, specific new agents often in
combination that will either put the cancer in remission or provide a real
cure. We must expedite the discovery, development and delivery of these
remarkable new agents to the patients who can’t afford and shouldn’t have to
wait one day longer than necessary.
In summary,
it is in the area of science and medical innovation where America has both the
opportunity, and I would say responsibility, to lead the world.
The three key points to focus on in
the current debate on health care costs are:
- Prevention – Let’s incentivize
organizations and individuals to practice healthy behaviors, i.e. The Gold
Standard of the CEO Roundtable on Cancer.
- Intervention – Start by
encouraging annual health physicals and waive co-pays for medicines as it
keeps people out of emergency rooms and hospitals.
- Innovation – This is still the
best ROI of any investment we can make.
Robert “Bob” Ingram is retired
former CEO GlaxoWellcome, Founder of CEO Roundtable on Cancer and currently
General Partner Hatteras Venture Partners which invests in early stage life
science.