Gary Pisano, The Future of the Business of Bioscience
On June 20, at the Public Library in Washington DC, Dompé farmaceutici organized a roundtable discussion titled "Embracing the Challenge in Science". The conversation drew inspiration from the innovative and collaborative spirit embodied by one of Italy's greatest historical figures, Leonardo da Vinci as the exhibit of 12 original tables of the Italian genius was inaugurated on the same day at the Library. The event stimulated a conversation on the vital collaboration between industry and academia, and its role in propelling forward scientific research.
The roundtable was introduced by a keynote from Gary Pisano, Associate Dean of Harvard Business School and author of "Creative Construction: The DNA of Constructive Innovation”.
Pisano discussed three key themes that will shape the future of the bioscience business.
Firstly, there was the ongoing convergence between the realms of "science" and "business."
In the past, science primarily operated within the confines of academia, guided by principles of openness, objectivity, and collective knowledge ownership. On the other hand, business operated in the private sector, driven by profit-seeking motives and competitive market dynamics. However, over time, these boundaries gradually eroded, and the implications of this convergence were delved into. Pisano highlighted how academic institutions fostered companies, possessed their own venture capital funds, and collaborated extensively with corporations. Simultaneously, companies became active participants in the scientific world, publishing in scientific journals, presenting at academic conferences, sponsoring basic research, and attracting highly educated professionals who were previously inclined towards academic careers.
The second theme he explored was the rise of AI as a pivotal tool in scientific research and pharmaceutical development. They examined how AI reshaped the pharmaceutical industry and proposed that its utilization ultimately provided substantial scalability advantages in the realm of discovery research. This transformation profoundly impacted the industry's structure, potentially leading to non-traditional pharmaceutical companies. Additionally, he addressed the implications for small to medium-sized pharmaceutical companies that historically played a vital role in discovering and developing new therapeutics. He proposed that these companies could thrive by engaging in collaborative networks and achieving scalability at the ecosystem level rather than solely at the company level.
Pisano highlighted how the COVID-19 pandemic underscored the fact that trust in science and medicine could not be taken for granted. They discussed the challenges expected to intensify with the advent of new scientific advancements and technologies, such as artificial intelligence. While these scientific breakthroughs held incredible potential for improving health outcomes, they emphasized that their impact could be significantly diminished if societies lost trust in the institutions, including the companies, responsible for bringing these advancements to life.