Although 2016 has brought plenty of good news in medical advances, biotech is an industry where failure is part of the game. Here’s a list of medical fails in biotech to learn from this year.
Unfortunately, 2016 has not been a good year for pharma, with revenues in the top companies falling, the lowest number of FDA approvals in 9 years and a spike in rejections. According to Deloitte‘s analysis, the current model is not sustainable and pharma should learn from biotech, which is proving to be more productive and bring better returns.
However, biotech has been struggling as well; in fact, 2016 has been the worst financial year in a decade for the field. From the US, some of the biggest medical fails this year include Juno’s deaths in its CAR-T trials, which are raising doubts about the safety of this hyped technology, and Eli Lilly’s Phase III failure in Alzheimer’s.
Since learning from our errors is one of the keys to success,