Six pharma failures and flameouts
Failing stinks. But innovation experts believe there are lessons to be learned from these six flops.
Given that they live in an industry based on the scientific method, you’d think that healthcare organizations might have a better attitude about failure. You might expect some lab-based pep talks, invoking names such as Lister, Pasteur and maybe even Thomas Edison (“I have not failed 10,000 times — I’ve successfully found 10,000 ways that will not work”).
After all, everyone knows failure is baked into healthcare. A recent study of clinical success rates finds that only 9.6% of drugs that enter Phase I clinical testing reach the market. Venture-backed Silicon Valley startups have a slightly better batting average, with about 75% failing.
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