January 16, 2010
Pharmaceutical Facts 2009
Pharmaceutical Facts 2009
Time to develop and market a new drug: 10-15 years
Average Cost to develop a new drug (2006): $1.318 billion
Total R&D spending on drugs in 2008: $65.2 billion
Generic share of market in 2007: 72%
Percent of marketed drugs that cover R&D costs: Only 20%
Total number of drugs approved in 2008: 31
R&D as a percent of U.S. sales: 20.3%
Average effective patent life for major drugs: 11.5 years
Medicines currently in development: 2,900 compounds
For every 5,000-10,000 compounds tested, the number that make it to clinical trials: 5
For every 5 compounds that make it to clinical trials, the number that get FDA approval: 1
Probability that a compound tested eventually gets FDA approval: .01% (1/100th of 1%, or 1 out of 10,000) to .02% (1/50th of 1%, or 1 out of 5,000)
Source: Pharmaceutical Industry Profile 2009
Posted @ 12:12 PM Post Link 16 Comments links to this post
January 15, 2010
Sinking in debt or trying to save? Here are some tips that tend to work
Why so many Americans are broke
No matter which book you pick up nowadays on how to save money or get out of debt, you are likely to get a similar array of strategies. While these strategies do work, I often wonder why people continue writing books with these same old tips (and why publishers keep publishing them).
This one, however, is different. Professor Stuart Vyse of Connecticut College isn't even a finance professor. His subject is psychology and he takes a rather interesting approach to discussing how people fall into debt and how they can get out of it. Check the link above for some very interesting experiment results.
As for the mistakes people make:
- we are more likely to overspend if you pay by credit card instead of cash
- if we get a windfall we are likely to splurge
- we tend to get more enthusiastic about 50% sales on $10 items than on 5% sales on $100 items we need
- we don't mind paying more for image even if what we get is the same
So what does the good professor suggest for strategies?
- automatic contributions to savings accounts as soon as your pay is deposited
- building delays into buying non-essential items
- using windfalls to pay down debt or to save if there is no debt
- paying by cash as much as possible
Sounds like an interesting book but the summary on Vanguard's site is probably sufficient for most.
Nano by Tata coming to the U.S. but not for as cheap
via autos.yahoo.com
Tata Technologies of India has already made a European version of the world's cheapest car--Nano Europa--set to debut in 2011. And now the company is setting its eyes on the U.S. market. However, the higher emissions and safety standards would mean that the $2,500 car would end up costing over three times its Indian price: $8,000. Add the typical Canadian premiums and this might not be as cheap any more.
January 13, 2010
How to Treat Your Employer
Always keep your eye open for new opportunities. Always have a basic résumé updated and ready. Always stay up-to-date in your field. Always say yes to manageable projects. Always look to meet new people in your industry. Always let outsiders know you are interested in moving forward with your career. Always look for ways to be successful working for yourself. Always have options.
As we get out of universities and step into the real world, we often make for ourselves a fantasy world in which we remain loyal to the employer and the employer is expected to stay loyal to us. The economic crash of 2008 was a wake-up call for many as the companies that had never fired anyone started cutting fat in huge chunks. So what do we learn from that?
While there are many benefits to staying with one employer long-term, it is absurd to do so without knowing your alternatives ... or as I would call it, your BATNA.
The eight tips given in the blog post above are must-dos for every professional. Keep your eyes and options open doesn't mean changing your job every couple of years. But it does mean treating your employers like they will most definitely treat you if the times were rough!
Qatar to Make Biomass-to-Jet fuel
Qatar Airways yesterday (11th January) unveilled a biojet fuel development programme that will be backed by Qatar Science & Technology Park, Qatar Petroleum and Airbus. The programme follows the company's successful trail of a Gas-to-Liquid (GTL) fuel blend, as part of a commercial flight, last October.
Addressing a press conference in Doha, Qatar Airways Chief Executive Officer Akbar Al Baker said: "Building on the experience and success of the GTL Consortium, we now move to the next phase of alternative fuels while continuing to develop GTL further. While others talk, we take action!"
Seven months ago, Qatar Airways, Qatar Science & Technology Park together with US-based Verno Systems Inc., embarked on a feasibility study on sustainable Biomass-to-Liquid (BTL) jet fuel and possible by-products such as biodiesel.
The study, says the company, looked at all available bio feed stocks that would not affect the food or fresh water supply chain. It also looked at existing and future production technologies with a viability analysis. Based on the result of the study, the partners have agreed to establish the "Qatar Advanced Biofuel Platform" (QABP) which will lead activities in the following four areas.
* A detailed engineering and implementation plan for economically viable and sustainable bio fuel production
* A bio fuel investment strategy
* An advanced technology development programme
* Ongoing market and strategic analysisThese activities will be built on, and primarily motivated by, the objective of executing advanced bio fuel projects – with Qatar Airways initially as a dedicated end-user.
As a follow-up to my last post, this one is about a Qatari company (from a country that is one of the leading oil producers) investing in production of jet fuel from biomass. The reality is, no matter how much or how little your energy needs are, waste disposal is becoming a real issue around the world and making energy out of that waste is the most useful remedy that is available to deal with that problem.
Waste to Energy -- Is this the Most Viable Biofuel Option?
Cleantech firm to change focus
Written on January 12, 2010
EmailWire reports that Green Energy Live, a clean energy firm, has decided to focus exclusively on its manure to energy conversion systems. Green Energy has phased out plans to expand into the ethanol business and will focus on the bio waste to energy segment. The company believes that this strategy will prove a better commercial success and easier to adapt to a widespread market.
What do you think? Discuss this entry in the Green Investing Forum.
While a number of biofuel projects are slow to get off the ground, I have been seeing a lot of activity in the waste-to-energy sector. It appears that there are real possibilities there -- and primarily because it solves two problems at once: provides energy and reduces the waste cities need to deal with.
December 31, 2009
Started With The Desert: A Hilarious Song on Saudi Arabia
via youtube.com
Courtesy Saqib. This is absolutely hilarious. All I can say is that this definitely did air on Saudi Channel 2 (from the logo in the top left corner). Apparently, this was done to commemorate the Saudi national day on Sep. 23, 1992 and a Pakistani band was asked to compose a song in English.
Posted via web from Junaid's posterous
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