Moncel Slaoui, chairman of research and development (R&D) at GlaxoSmithKline (GSK), opened the 2012 BIO CEO & Investor Conference with a Fireside Chat where he provided insight in to his company’s biopharma R&D strategy.
“GSK has announced that our R&D budget is no more a percentage of sales. If you think about it, it doesn’t make sense,” Slaoui stated, “because, sales are a marker of R&D 10 and 15 years ago.”
Right now, GSK has 30 programs in phase III, four programs that are completed and ready to be filed, and 6 more programs that they will file in 2012.
“If less than 50 percent to 60 percent of these are successfully developed, I’ll view it as mediocre,” Slaoui explained. “If it’s more, I’ll view it as a success.”
For GSK, R&D is about making the right decision, Slaoui explained. His company takes an approach that looks at their programs in a very transparent way, so that their failures occur early rather than late.
“Failing at the end is more expensive,” he said.