Many thanks to the team at Novo Holdings for a remarkable CEO summit. It brought some of the best minds from life sciences to bear on today's remarkable industrial revolution around medicine and biosolutions and where it's going next. Here are three of my personal takeaways from the conceptual end of the riffing (there was lots of nitty-gritty as well!).
* There is an unresolved contradiction between the miracles of modern diagnosis and treatment (and their costs), and society's failure to stem the humdrum causes of diseases (and their consequences). A conversation is needed between the government, the taxpayer, the citizen, and the scientist about the social contract on health. Otherwise, we will all fall-out rather than work together to build a better future.
* The commercial and social potential of scientific innovation already on the lab bench is being throttled by overwhelming regulations and a failure of imagination by those charged with implementing the new stuff. We have made a conscious decision that red tape and risk aversion will hold back the pace of change. It's time to reassess that decision.
* Valuations are tethered to blockbuster breakthroughs, but that's creating horrible inefficiencies whereby too much R&D is going down the plug. Instead of chasing the next Rolling Stones we need incentives that reward the long-term health of our nations, not last-ditch treatments against unwinnable chronic diseases.
Huge thanks to Kasim Kutay, Mads Krogsgaard Thomsen and the team for hosting a remarkable event; to Christopher Viehbacher, Lene B. Oddershede, Ester Baiget and all those involved for some remarkable presentations; and to my Novo friends Johan Hueffer, Daniel Mahony, Naveed Siddiqi and Meret Gaugler, PhD for looking after me.
At Novo Holdings, Engaged Ownership is at the heart of our investment strategy. This weekend we gathered the senior leaders of our life science portfolio companies at our Novo Holdings CEO Life Science Summit to exchange thoughts and ideas of operational and strategic relevance.
#healthcare #sustainability
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