Richard Pops, long-time CEO of Alkermes, reflects on his 35-year tenure and the company's evolution from a small CNS-focused lab into a profitable developer of proprietary medicines. Orexin receptor agonists represent a breakthrough in treating narcolepsy, with potential applications for fatigue in neurological conditions like Parkinson’s and multiple sclerosis. Biotech firms must move beyond incremental drug development toward high-value, biology-driven innovation to navigate an increasingly hostile policy environment. Active industry engagement in Washington is essential to address challenges like the Inflation Reduction Act and the disparity between U.S. and international drug pricing. Maintaining a robust FDA and prioritizing basic scientific research remain critical for sustaining the industry’s competitive edge against global rivals. This transition marks a shift toward a more mature, evidence-based sector that prioritizes meaningful patient outcomes over short-term financial gains.
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