MBA Guest Speaker: Phil Gould, CEO Jadara Pharma Ltd.
Founder and Chief Executive of Jadara Pharma Ltd, Phil Gould, recently visited the Management School as part of our MBA Guest Speaker series.
Phil, former Chief Business Officer for the School of Tropical Medicine, delivered his talk: “why are prescription drugs so expensive?” to current MBA students in the Brett Building.
Phil has been an expert witness in pharmaceutical patent litigation cases and a business advisor to universities regarding the exploitation of a wide range of healthcare technologies. Starting his career at Reckitt and Colman Pharmaceuticals Division in 1978; Phil has since held roles at Pfizer Central research, Lederle Laboratories, Glaxo and Provalis PLC.
His current role in a Healthcare Business Consultancy focuses on strategic planning and new product introduction. He talked about how the pharmaceutical industry continues to deliver value and the reasons why prescription drugs are so expensive.
The session explored elements of financial risk management as well as business strategy within the pharmaceuticals industry. Phil explained that only one out of thirteen drugs ever make it to the market, meaning that there is potential for financial loss.
However, sales have risen in the market over the last 10 years. With fewer products on the market and fewer new drugs being approved, companies are able to charge more. This alone has been able to sustain the industry.
Phil advised our MBA students to ‘learn as broadly as you can about all aspects of business. Ensure that you have a business perspective that looks at what can be done rather than what can’t be done and seek business opportunity’.