Dr Marisa Miraldo, associate professor in Health Economics at Imperial College Business School, London, discusses ways to accelerate innovation in healthcare for the benefit of patients, healthcare providers and industry.
Giving innovation a boost
The decline in innovation in research and development (R&D) in the pharmaceutical sector is well documented. Over the past decade, only around a quarter of new drug launches in the UK1 and a third of new drug approvals in the USA2 have been truly innovative drugs (using a new approach to fighting disease).