"Live Players" with Samo Burja and Erik Torenberg

A Deep Dive on Big Pharma and Ozempic

25 snips
Feb 13, 2024
Guest
Samo Burja
In this episode, Samo Burja and Erik Torenberg discuss the dysfunction of Big Pharma, its lack of innovation, and potential ramifications despite its economic power. They delve into the incentives behind scientific breakthroughs, truth vs profit, and changing the FDA's approval processes. They also explore healthcare spending, Ozempic, and future innovations in the medical industry.
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INSIGHT

Pharmaceutical Industry Innovation

  • The pharmaceutical industry, despite its size, shows unimpressive innovation in revolutionary medicine or extending human lifespan.
  • Companies like AstraZeneca prioritize patentable compounds over deep understanding of biology, leading to a "lottery ticket" approach to drug development.
ANECDOTE

Novo Nordisk: An Exception

  • Novo Nordisk, unlike most pharmaceutical companies, focuses on deep expertise in specific areas like diabetes.
  • This focus led to Ozempic, a promising weight loss drug, highlighting the importance of specialized knowledge.
INSIGHT

Profitability vs. Innovation

  • There's a disconnect between pharmaceutical companies' profitability and their ability to innovate.
  • Short-term profit motives, like prioritizing patentable compounds, hinder long-term scientific advancements and lower social utility.
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