Quintiles report highlights risk issues in biopharma industry

Quintiles has published the 2012 edition of its annual New Health Report, which has revealed shortcomings relating to the management and communication of risks in the biopharmaceutical industry.

The report has revealed a pressing need for deeper knowledge of inherent risks in healthcare and medicine, with patients showing limited understanding of how drug development works, while executives have little confidence in current means of assessing risk-benefit profiles.

As such, a lack of consensus on the best way to manage and reduce risk has emerged and is hindering efforts to create a system that addresses the issue.

Quintiles suggested that measures such as greater industry collaboration and the development of risk-sharing agreements to enhance patient-population targeting could help in this regard.

"To address this challenge, the biopharmaceutical industry must develop new approaches and do that as soon as possible," said the report.

Last month, Quintiles announced the appointment of Tom Pike as its new chief executive officer, succeeding company founder Dennis Gillings, who will continue as executive chairman.