When you hear people use the phrase "It's a hits-driven business," they're usually talking about venture capital, TV production, videogames, or pop music—all industries where you don't make much money unless you come up with at least one (and preferably a string of) massively popular products. But you know what's another hits-driven business? Drug development. This week, we present the fourth and final episode in the Persistent Innovators miniseries, originally produced for InnoLead's Innovation Answered podcast and republished here for Soonish listeners. It's all about the giant Swiss pharmaceutical company Novartis, maker of more than a dozen blockbuster drugs like Cosentyx for psoriasis, Entresto for heart failure, and Gilenya for multiple sclerosis.
Because companies lose patent protection on their old drugs after 17 years, they must constantly refill their pipeline of new drugs—and Novartis has done that by placing a huge bet on the Novartis Institutes for BioMedical Research (NIBR), its 2,000-person R&D lab based in Soonish's hometown of Cambridge, MA. In this episode you'll meet Tom Hughes, a biotech entrepreneur and former Novartis executive who helped to set up NIBR in the early 2000s, as well as NIBR's current president, Jay Bradner. They explain why the decision to build NIBR was initially controversial even inside Novartis, and how the labs are structured today to take big but manageable risks and ensure that the company can capitalize on biology's growing understanding of the molecular and genetic underpinnings of disease.
"I find from the top down, our chairman to our CEO, to every commercial leader, there is a tolerance and an appetite for bravery in drug discovery that is really refreshing and honestly very empowering," Bradner says of Novartis. "If you looked at the type of programs in our portfolio, they’re not for the faint of heart. And this is for a very specific reason. We worry that if we don’t try to [do it] well, then who will?"
"What Makes Novartis a Persistent Innovator?" was first published by Innovation Answered on February 28, 2022. You can hear the entire miniseries at innovationleader.com or in your podcast player of choice.
Logo photo by Sangharsh Lohakare on Unsplash
Full transcript available at http://www.soonishpodcast.org/505-novartis
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