Medicine Research and Development
Research and development (R&D) in medicine encompasses actions that pharmaceutical companies undertake to invent and produce new services and products. Michael and colleagues reviewed a journal presenting an overview of FDA-approved new molecular entities (NMEs)(Kinch et al., 2014). The authors suggest that large organizations’ act to scale back internal R&D, development of organizations acquiring NME that have limited R&D capacities, and less funding from major biotech companies are causing a progressive and nonreversible shrinking R&D infrastructure for new discoveries (Kinch et al., 2014). As a professional pursuing medicine, it is ideal to agree with the statement of the authors because of the reasons below.
The established pharmaceutical companies are outsourcing drugs in their early stages of development and the entire infrastructure required for the process. Additionally, the upcoming biotechnology companies receives limited funding for their projects, which limits their ability to develop new molecular entities (Kinch et al., 2014). The control of NMEs reduces with the infrastructural potential of a company, for instance small emerging companies are only allowed to control one NME. As a result, the top ten biotech companies tended to have control of two-thirds of the total NMEs by the year 2013 (Kinch et al., 2014). Therefore, the start-up companies are stagnated by circumstances hence eliminating new NME entities and allowing the larger organizations to control the entire pharmaceutical industry.
The limiting factor for new biotech companies seems to threaten the future of next generation. It is unrealistic to depend on new ventures from start-up companies to fill the gap created. The gap created would be addressed by increased partnerships by companies in the private and public sectors. The larger organizations can work together with early-stage companies to increase new molecular entities. The companies should also work to together with the National Institute of Health that has a key drive for new ideas and innovation in regards to biotechnology.
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