Psychiatry - August 2008 - (Page 60)

res p [ t h e e ianr tcehr ftaoc e ]r a c t i c e ] Today, a number of large research-based companies expect some of their leading pharmaceuticals to earn 1 to 5 billion dollars at the peak of the drugs sales cycle. However, other products may be considered successful at $500 million if they’re serving a patient or clinician need. and development, I believe this image many consumers have about the industry is to its detriment. LOOKING BACK ON YOUR YEARS IN THE PHARMACEUTICAL INDUSTRY, WHAT WAS THE MOST CHALLENGING PART OF YOUR JOB? Mr. Milbauer: Sometimes I had to convince senior management to drop a drug from development because, in our commercial judgment, the product was unlikely to be successful. The reasons could have been competitive positioning or the amount of commercial resources required, pricing issues, dosing or safety issues, or patient acceptance…but those reasons frequently did not matter to the scientists who had been advocating for the drug. I found myself having to persuade people who had spent many years developing “their” compound that it was not in the company’s best interest to pursue the drug, and often these people had difficulty accepting the corporate perspective. But, it was a business after all. WHAT DO YOU THINK OF DIRECT TO CONSUMER ADVERTISING? Mr. Milbauer: I think direct to consumer advertising can be very useful if it is done ethically and professionally. Advertising can inform patients and facilitate a discussion between them and their doctors about illnesses that they did not know about. Third-party studies have shown that direct-to-consumer advertising is more helpful than harmful in getting good patient care. On the other hand, TV advertising has brought a spotlight on pharmaceutical companies and created the false image that they spend too much on advertising to the public. Although this is an inaccurate perception relative to the extraordinary expenses for research AUTHOR AFFILIATIONS: Dr. Targum is an executive-in-residence at Oxford BioScience Partners and on the faculty of the Department of Psychiatry at the Massachusetts General Hospital. Dr. Targum is chief medical officer at BrainCells Inc., and chief medical advisor to Prana Biotechnology Ltd. Dr. Targum is on the editorial staff of Psychiatry 2008. Mr. Milbauer is retired after 32 years with AstraZeneca and its predecessor companies; his last position was VicePresident, Public Affairs. FINANCIAL DISCLOSURES: Dr. Targum has stock or stock options in BrainCells Inc. and Prana Biotechnology Ltd. In the past year, Dr. Targum has been a consultant to United BioSource Corporation, Dynogen, Epix, DOV Pharmaceuticals, Sepracor, NuPathe, and Memory Pharmaceuticals. ADDRESS CORRESPONDENCE TO: Dr. Steve Targum, Oxford BioScience Partners, 222 Berkeley Street, Suite 1650, Boston, MA 02116; E-mail: sdtargum@yahoo.com 60 Psychiatry 2008 [ A U G U S T ]

Table of Contents Feed for the Digital Edition of Psychiatry - August 2008

Psychiatry - August 2008 Editor’s Message Editorial Advisory Board Contents Borderline Personality Disorder: Are Proliferative Symptoms Characteristic? Short-acting versus Long-acting Medications for the Treatment of ADHD Baby Stimuli and the Parent Brain: Functional Neuroimaging of the Neural Substrates of Parent-Infant Attachment These Boots Are Made for Stalking: Characteristics of Female Stalkers Managing Attention Deficit Hyperactivity Disorder in the Emergency Department Obstructive Sleep Apnea, Hypoxia, and Metabolic Syndrome in Psychiatric and Nonpsychiatric Settings Improving the Quality of Life in Patients with Alzheimer’s Disease The Process of Getting New Drugs to Market Journal Watch Classified Advertising Information for Authors

Psychiatry - August 2008

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