IDEA Collider | In conversation with Nooman Haque

IDEA Collider

00:20 Introduction: what does Silicon Valley Bank's Life Sciences and Healthcare group do?

01:00 Nooman's background

01:30 How does SVB fit into the innovation ecosystem?

02:00 Lending to companies who don't have products

02:15 How does innovation happen: the myth of the lone inventor; the value of connections

03:15 Parallels to non-pharma innovation models and ecosystems

03:45: Innovation as the deployment into a market for the betterment of people and society

04:10: Invention, innovation and diffusion of the innovation

06:00 How does pharma compare?

06:15 How do the incentives influence R&D?

06:30 'Pharma are largely sales organisations' Large vs small companies

07:30 'Companies are largely "satisfied"'The incentives to do differently are not there...

08:05 Analogs to the movie industry; content is knowledge; integrated model to separating out the value chain

09:50 Where is the Netflix of the pharma world?

10:30 Does the emphasis on launching 'blockbusters' affect the pharma industry?

11:30 Finding the right audience, and the right commercial model, for the right product

12:30 The franchise and the 'repeat successes'

14:00 Innovation in distribution

15:00 'We've got boots on the ground, and therefore we need blockbusters'

17:00 How important will the salesforce be? Will biotechs still need to partner with large pharma?

18:00 Why shouldn't government fund and develop (and distribute) new medicines?

19:20 The analog with US defence procurement, and the role of government funding of invention in the innovation ecosystem

20:20 Anti-microbial resistance - why the failure of the market for solving the problem?

21:00 Agreeing on important problems to solve

23:45 The government as an 'infinite agent'

25:10 Knowing that you're getting innovation within an ecosystem: how to measure?

25:45 A proxy for measuring innovation - the patent

27:00 'Are ideas getting harder to find?' Yes.

27:30 'Compared to 30 years ago, it takes 20 times the effort to deliver Moore's Law' - so there is declining productivity

28:45 Why is it getting harder? It's a diffusion problem

30:00 The silo-isation of pharma: diffusion into organisations

31:00 Comparison to banking - the role of regulation

33:30 Is there anything similar to the role of financial regulation in pharma?

34:20 Could we apply anti-trust in pharma?

36:00 Is our model the right model for the next 150 years?

37:20 Societal innovation - how do new beliefs emerge?

38:30 Sherlock Holmes - the character who's appeared most on screen - not owned by anyone

41:20 Europe vs the USA as a hub of innovation

42:00 'A lot of the inventions in the Industrial Revolution came from outside the UK'

45:00 'If your industry relies on early stage ideas, you need to find ways to get those ideas into the hands of 'ordinary' people'

45:40 Answers looking for questions

47:00 If Google is looking to disrupt itself, why not a pharma company?

47:30 Is it a question of timescales? Is there a necessary pressure in other industries?

49:20 Where does Nooman go to learn about innovation?

50:30 On macro-economists and the absence of bias

51:20 The Grapes of Wrath and innovation

53:30 Deliberative decision making

54:30 How we make choices

56:30 'patent litigation held up the development of the steam engine for two decades'

57:20 The value of the long, historical economics view

58:30 The adjacencies; the first car phone was in the 1950s...

61:20 Innovation in India, China, etc.

63:10 Are you excited for the future?