, Columnist
Pharma's Status Quo May Be Doomed
R&D spending is losing its punch, spelling lower returns for investors.
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There are plenty of grim takes on the future of the pharma industry, and I've offered some of them.
But perhaps none have been quite as dire as a recent analysis from Novartis AG executive Kelvin Stott, which makes the minor claim that the biopharma business model is fatally flawed and doomed to terminal decline. He may have a point.