Congratulations – our colleague Dr Esh Trushin’s co-authored paper “A new prize platform model of R&D for neglected diseases” (with Prof. Brigitte Evelyne Granville of Queen Mary, University of London) has been awarded with the best paper in track “Platform innovation for post-pandemic era” at the annual RADMA R&D management conference, The University of Strathclyde, 6-8 July 2021.
Abstract of paper:
Persistent market failures underlie scant commercial innovation in the area of drugs for neglected diseases. The resulting scarcity is exacerbated by flaws in public research and development (R&D) support models in such important respects as drug affordability, cost-efficacy, global resource mobilisation, and knowledge sharing. We contribute to a solution of this problem by (i) a critical evaluation and identification of the desirable features of existing public R&D support models; (ii) combining these features into an adapted prize screening model to provide innovators with attractive incentives and reduced transaction costs and risks in a globally coordinated framework with transparency, inclusive governance, provision for generic pricing, and focus on efficacy; and (iii) demonstrating the potential to improve the efficacy of new medicines by means of an estimation of the optimal prizes and potential costs of running such model for the case of anti-tuberculosis medicine. This model aims to address the present dearth of opportunities for small pharmaceutical companies and academic groups worldwide, which play important roles in this area. We propose to resolve the main tension between value capture and value creation in platforms with the prize mechanism design to reduce stress and role conflicts. Our estimates for the case of tuberculosis indicate a potential for significant cost-benefit improvements with potential applications for orphan and emergent diseases with small markets.