“Drug Discovery in the 21st Century.”
W. Stephen Faraci,
Exec. Director & COO
Pfizer - Global Research and Development Center (PGRD)
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Abstract: Over the past decade, the productivity of the pharmaceutical and biotech industry – as measured by the approval and widespread acceptance of new molecular entities, has not been good. The reasons for this are well known, including declining R&D productivity, extensive regulatory requirements, patent expirations and subsequent generic substitution and pricing pressures. All of these issues have led to reduced revenue and profit for the entire industry even though expenditures in R&D are at an all time high. This presentation provides an overview of the Pharmaceutical industry and what some companies are doing to increase innovation and creative thinking in a large company environment.
Presenter Biography: Dr. W. Stephen Faraci is Executive Director and Chief Operating Officer at the Research Technology Center (RTC), which is part of the Biotherapeutic and Bioinnovation Center, a division of Pfizer Inc. Part of Steve’s role at the RTC is as an external outreach for the Eastern U.S. region, with a focus on the Boston / Cambridge, Massachusetts, area. He is based at the Cambridge, MA site.
Steve joined Pfizer Central Research in Groton, Connecticut, as a Research Scientist in 1988, working in the field of lead discovery and high throughput screening. In 1996 he assumed the position of Head of Drug Pfinder, and in 1999 relocated to the newly opened Cambridge, MA site to help establish the Discovery Technology Center; his most recent position was Head of Biology at the Pfizer Research Technology Center (RTC).
Steve received his Bachelor of Science in Chemistry from Fairfield University and his Ph.D. in Chemistry from Wesleyan University. He continued his training as a National Institute of Health Postdoctoral Fellow in the laboratory of Professor Christopher Walsh at the Massachusetts Institute of Technology and Harvard Medical School.
Online Presentation: http://lifescience.planetconnect.com/ppt/LSPrinceton/tuesday/STEPHEN_FARACI.ppt
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