We (still) have an industry that behaves as if the molecule does all the work, and that simply getting it into the pipeline is 99% of what matters… However, 2020, more than ever, revealed how much difference a company, and its decisions, can make. Here’s to the next 10 years celebrating the successes of one of the great industries. When the world asked, in 2020, a few companies delivered not just in discovery, but in painstaking development, manufacture, distribution and more. Those are the real lessons of innovation that it is hard and worthwhile, and that it is still down to people and their decisions.- Mike Rea, CEO at IDEA Pharma
Invention vs. Innovation
1. Invention – Bringing ideas or technologies together in a novel way to create something that did not exist before.
2. Innovation – Return on invention; creation of meaningful value from invention.
What is ‘The Pharmaceutical Innovation Index’?
Seeks to answer the provocative question, ‘If two pharma companies were given the same molecule in early phase, which of the two would be better in developing and launching it?”. The Innovation index ranks companies utilizing a range of clinical, regulatory, and commercial metrics, ranging from the corporate level down to individual product decisions and outcomes.
The 2021 Pharmaceutical Innovation Index
Top Performers Across both Innovation & Invention
One year after regressing to 5th place on the innovation scale, Eli Lilly has claimed the top spot for 2021. The four spot rise from 2020 is due mainly to a plethora of positive clinical results, notable regulatory wins, accompanied by a solid financial performance.
Roche falls below the top 10 on the Invention scale , but the company ranks 2nd on the Innovation ranking, driven largely by having the highest number of novel FDA drug approvals in 2020.
Regeneron has climbed 7 positions, from 10th on last year’s index, to 3rd. The climb represents the company’s strong commitment to growing Dupixent across indications, a myriad of positive clinical data readouts, multiple regulatory approvals, and a strong financial performance in 2020.
Appearing for the first time on the Pharmaceutical Innovation and Invention Index, Incyte has ranked among the top five companies for 2021. Incyte’s total revenue grew by an impressive 24% in 2020, and that success is partially attributed to blockbuster JAK inhibitor Jakafi which grew by 15% in net product revenue in 2020.
AstraZeneca (AZ) is up one position, coming in at number 8 on the 2021 innovation scale, and a drop to 6th on the 2021 invention scale after holding the 1st place in last year’s Invention ranking. One of the drivers of this year’s innovation ranking is attributed to Tagrisso’s major expansion by achieving an FDA approval in early stage EGFR mutated NSCLC patients.
IDEA Pharma, (2021) ‘Pharmaceutical Innovation and Invention Index 2021’ Available at: https://pdfhost.io/v/~ug3~qypI_PIII_Whitepaper_2021_Final.pdf [Accessed 10th June 2021]