< Back to Press Releases
Wolfe Laboratories Featured on “The Economic Report”
BOSTON, MA – (BUSINESS WIRE) – February 24, 2009 – With their approaching 10 Year Anniversary in April, Wolfe Laboratories, Inc. (WLI) was recently featured in an episode on The Economic Report, Behind the Scenes in Drug Discovery and Development as part of the show’s Medical Minutes series. The show aired in San Francisco, Oakland and San Jose throughout the month of February, 2009. Specific dates included February 3rd, 10th, 17th and 24th. Broadcasted through KFTY, The Bay Area’s TV50, WLI’s exclusive program reached 856,000 households through Comcast, 575,000 households through DISH Network and Direct TV, and 21,000 households through Over the Air.
Following the same topic theme, WLI will also be featured in an upcoming March broadcast in the Greater Boston Area. This broadcast will air five times on March 1st, nine times on March 2nd, and one time on March 3rd through CNN Headline News Comcast Cable and regional cable operators in the following DMA counties: Barnstable, Belknap, Cheshire, Dukes, Essex, Hillsborough, Merrimack, Middlesex, Nantucket, Norfolk, Plymouth, Rockingham, Strafford, Suffolk, Windham and Worcester.
During this March broadcast, listeners will learn about the three major challenges that the biopharmaceutical industry is currently facing: the trend towards personalized medicine, the globalization of drugs, and patent expirations. Within all three looming challenges, WLI notes that innovation is critical. The segment highlights that this innovation will likely take many forms but the most prominent may be the trend towards personalized medicine. As new scientific capabilities emerge, biopharmaceutical companies will leverage the discoveries of the past decade to facilitate the creation of personalized medicine. When discussing the globalization of drugs, WLI observes that worldwide healthcare expenditures are increasing, especially for pharmaceuticals. Over time, this will create new sources of competition for western companies. As the industry enacts new strategies to overcome these challenges, it will have to brace itself for the impact of impending patent expirations for many blockbuster drugs. WLI remarks that the ramifications for this are severe. As drugs go off patent, biopharmaceutical companies lose billions of dollars that could go towards research development for new medicines.
To emphasize this imminent challenge, Janet Wolfe, Ph.D., President of WLI and Greater Boston Chamber of Commerce’s 2008 Entrepreneur of the Year cites statistics from Ernst & Young’s Beyond Borders: Global Technology Report 2008, “Between 2007 and 2010, dozens of blockbuster drugs will lose patent protection and will forfeit an estimated $67 billion in sales in generic versions. This reality will challenge the biopharmaceutical industry to improve its ability to innovate.”
The takeaway from this exclusive WLI broadcast is that in today’s challenging economy, it is apparent that innovation is the catalyst. The challenges that the biopharmaceutical industry is currently facing call for immediate attention and further discussion. To continue this important dialogue within the industry, WLI is hosting the 2009 Wolfe Biopharma Conference entitled, Filing Biopharma’s Pipeline. Partnering with United Way, WLI’s conference is not only to celebrate their 10th Anniversary of providing pharmaceutical ADMET and CMC development services to emerging pharma and biotech companies, but also to increase awareness about existing trends and impending challenges in the biopharma ecosystem, and to help raise money for United Way’s Math, Science and Technology initiative (MSTi) and other youth programs.
About Wolfe Laboratories, Inc. (WLI)
Founded in 1999, WLI is a pharmaceutical development company located in Watertown, MA that offers a variety of customized pre-clinical services, including pre-formulation and formulation development, analytical method development and characterization, PK and in vitro ADME bioanalytical development, dose formulation stability and uniformity assessment, lyophilization cycle development, IND enabling and GLP/GMP analytical testing and method validation services. For more information, visit www.wolfelabs.com.