Pharma isn’t what it used to be. Two major companies lost about 40% of their stocks’ values in the past decade, when the industry shed 300,000 jobs.
Some analysts, including former pharmaceutical executive Bernard Munos, think more jobs need to be lost. Munos, now an analyst, thinks pharma has too much effort in research and development. In Munos’ opinion, pharmaceutical companies should concentrate on blockbuster drugs, closing many of their laboratories to do so. In addition, big pharma should outsource research and development to small biotech startups that can explore the crazier ideas.