"Being a life sciences CEO is not for the faint of heart. Drug discovery and patent approvals are costly and time-consuming, and even if an executive can steer a company to clinical trials, there's a very small chance the product will be commercialized. One study says that 90% of clinical drug development fails because the treatment didn't have its intended impact, had the wrong formulations, or harmed patients."
"Still, biotech and health technology companies are now confronting an additional burden: simmering science skepticism. Pew Research Center found that in 2024, 76% of Americans believed that scientists act in the public's best interest, up slightly from 2023 but down 10 points from pre-pandemic levels. A new survey from Pew shows that 24% of parents of school-age children question whether vaccines have undergone enough safety testing."
Life sciences leadership carries intertwined business, scientific, clinical trial, and regulatory challenges with no guarantee of success, and drug development suffers very high failure rates. Clinical failures commonly result from lack of intended impact, incorrect formulations, or patient harm. Successful breakthroughs can yield transformative financial outcomes, as shown by a major $21 billion sale of a colorectal cancer screening company. Public trust in scientists has declined from pre-pandemic levels, with 76% still viewing scientists as acting in the public interest while 24% of parents question vaccine safety testing. Political pressures and federal research budget cuts add further strain.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]