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  • Dispelling the Myths: Industry and Academia More Alike Than Different

    Ray Price, PhD
    Career Paths
    Biopharma Business
    Rate this article:
    3

    As someone who’s transitioned from academia to industry, I’d like to share some of the differences in the two career paths, as well as address some misconceptions of the ‘golden handcuffs’ of industry as seen from the ivory tower. First, here’s my take of where the biopharma industry stands. R&D costs have grown dramatically in the past decade, and have grown disproportionately to R&D budgets or output, with R&D inflation of 10-12% or more and budget increases between 3-6%, leading to decreased R&D productivity. The regulatory climate is growing more unfavorable and uncertain, with significant pressure to eliminate almost all manner of risk or uncertainty, creating an unrealistic and potentially unachievable hurdle for drug approvals and exposing the industry to unprecedented risks with product liability. The reimbursement hurdle has also become significant, in that ...