Rethinking Business Model for Drug Discovery, Post-COVID

Motivation: The COVID pandemic underscores the need for fair access to health care. The unequal access to needed but patented, expensive medicines will exacerbate existing disparities among disadvantaged populations. For example, cancer gene therapy costs range from $373,000 for a single dose of CAR...

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Bibliographic Details
Published in:Review of business 2022-06, Vol.42 (2), p.1-20
Main Authors: Mishra, Bud, Qi, Qianru
Format: Article
Language:English
Subjects:
Blockchain
Business models
Cancer therapies
COVID-19
Debt management
Democratization
Drug discovery
Drug prices
Drugs
Due diligence
Engineering
Epidemics
Funding
Health aspects
Health care access
Health disparities
Innovations
Lo, Andrew W
Medical research
Medicine, Experimental
Non-fungible tokens
Pandemics
Patients
Pharmaceutical industry
Prescription drugs
R&D
Research & development
Researchers
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Summary:Motivation: The COVID pandemic underscores the need for fair access to health care. The unequal access to needed but patented, expensive medicines will exacerbate existing disparities among disadvantaged populations. For example, cancer gene therapy costs range from $373,000 for a single dose of CAR-T therapy Yescarta to $2.1 million for Zolgensma. Consistency: As a disruptive technology, blockchain has created a lot of challenges and uncertainties for the economy and society alike. This research provides a framework to realize the potential of blockchain and non-fungible tokens to democratize the drug discovery process and reduce health disparity, while controlling their risks using rating system, due diligence, and financial engineering, which is consistent with the purpose of this journal.
ISSN:0034-6454