The biopharmaceutical industry is in a precarious position regarding innovation: big bets in bold new areas are fraught with complexity and uncertainty, while success in mature therapeutic areas is becoming increasingly challenging. Sustaining innovation has consistently been difficult, but the resulting benefit to patients has generally provided innovators with an ROI sufficient enough to compensate for the risk. The balance of this equation is shifting and appears to be getting even tougher for innovators and investors.
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