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Published on Apr 29, 2012
Ringold talks about how the pharmaceutical industry is built on failure and inefficiency and has a small success rate. This recognition led to Surromed. The low success rate is driving the consolidation of companies, which is giving rise to mega players. Now a blockbuster product has to be a multibillion product. This can only change with a change in the processes it uses. New biotech companies are starving for funding and cash, he notes.