A Drug to Eradicate Diarrhea
By Kristen Philipkoski
02:00 AM Jul. 11, 2005 PT
Napo Pharmaceuticals is poised to launch the first Third World blockbuster drug.
It sounds counterintuitive -- drugs marketed to poor people don't typically lead to big profits. But Lisa Conte, Napo's founder and CEO, hopes not only to bring an affordable diarrhea medication to millions of people in developing nations, but also to reshape the pharmaceutical industry.
The current development model for drug companies is fizzling, she said. More and more prospective blockbuster medications are failing in the final stages of development, and companies will have to consider selling at a lower price to larger numbers of less affluent customers.
"The pharmaceutical industry of the future needs to include emerging and developing economies," Conte said at the Biotechnology Industry Organization annual meeting last month in Philadelphia. "We're not going to be able to enjoy the pricing we have in the past."
Conte founded Shaman Pharmaceuticals in 1989. It was a hot "bioprospecting" company throughout the '90s, scouring the rainforest and other natural settings for medicinal plants and turning them into FDA-approved drugs. But the company came to a heartbreaking end in 2001 when it was about a year away from launching its first drug. The FDA wanted one more round of clinical trials, but Shaman couldn't afford them and went bankrupt.
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