Biomedical Innovation: Lessons From the Past and Perspectives for the Future

Back around the turn of the millennium, the future of the pharmaceutical industry was bright. Amazing technologies were converging to enable a top-to-bottom reengineering of drug research and development (R&D). The "omics," combinatorial chemistry, high-throughput screening, robotic automation, and systems biology, promised to bring order and method to drug research's bewildering complexity. Pharmaceutical executives-many of whom were ill at ease with their scientists' freewheeling ways-were excited. Gushing with an enthusiasm that was typical of the times, a former industry Chief Executive Officer spoke glowingly of the launch of "two to three new blockbusters… each year" driving a quadrupling of revenues.