<div id="readability-page-1"><div><p>IN AN interview with private-equity investor David Rubenstein, chief executive officer of Novartis Dr Vasant Narasimhan spoke about the potential and possibilities of pharmaceuticals in a fiercely competitive industry.</p><p>Rubenstein questioned Dr Narasimhan on whether constant drug patent expiry and the need to generate new portfolio of drugs is a good way to make a business. Dr Narasimhan acknowledged the “constant treadmill” and the value of a company’s replacement power, which requires strong research and development capabilities, as well as long-term thinking.</p><p>Few industries in the world are subject to such clockwork-style competitive advantage erosion, where businesses know the exact year in which generic drug sales will erode their revenues.</p></div></div>

<p>Dr. Vasant Narasimhan, CEO of Novartis, discussed the challenges and potential in the pharmaceutical industry, emphasizing the importance of strong R&D and long-term thinking. He acknowledged the constant pressure of drug patent expiries and the need for new drug portfolios, highlighting the industry's unique competitive advantage erosion.</p>

Singapore’s biotech strategy will benefit from collective, not competitive, thinking