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INSEAD Risk Management Introduction

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David Cocker
David Cocker

This document provides an overview of a discussion on whether risk management and innovation in the healthcare industry are compatible. It includes introductions of several speakers who will provide different perspectives on this topic, including from "Big Pharma", regulators, economists, and end-users. The document also previews some of the key points that will be addressed such as defining risk, the types of risks faced by the industry, approaches to risk management and communication, and strategies to balance risk management with innovation.

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Risk Management and Innovation in the Health Care Industry: Are they (in)compatible? Introduction Dr. David Cocker The Big Pharma point of view Dr. Gerd Johnscher Senior Partner, MDCPartners Senior Consultant, Pharmakon Former Senior VP, Adviser to the CEO, UCB The Regulators point of view Prof. Bruno Flamion FUNDP University of Namur and CHMP The Economists and Innovator point of view Prof. Koenraad Debackere Managing Director of K. U. Leuven R&D Chairman of Gemma Frisius-Fonds The End-users point of view Mr. Jo De Cock General Manager, RIZIV/INAMI
Risk Management and Innovation in the healthcare industry are they (in)compatible ? Good evening, my name is David Cocker and I am in the chair tonight.
Talking about risk is of course one of the riskiest things one can do. There are so many experts about ! ( J.D.Remington, HSE, UK )
Whats risk ? its very simple The risk the first speaker will look up wikipedia.org/historical_background/ the definition of risk.
Once risks was in the hands of others Thx Peter Bernstein & Rembrandt
Most of us view risk as either acceptable ..or unacceptable Thats if we have a choice ..
Reputational People Share price Environmental Ecotox Compliance Risk Financial Investments Liabilities Human Health Efficacy Safety
Risk Management Mitigate the risk of injury Mitigate the risk of accidents
Study suggests heart attack risk persisted for one year after patients stopped taking Vioxx. Oct. 14 issue of The Lancet. The study "also appears to show the higher risk started soon after patients began taking Vioxx, though" the analysis "notes a small sample size precludes a definitive finding on this issue."
Do you hold a good hand of cards ?
NGOs are good at communicating emotion The industry is good at communicating data.
Risk communication will be as important as the data to substantiate it
time RISK MANAGEMENT RISK ASSESSMENT Hazard identification Dose (conc)-response (effect) Exposure assessment RISK CHARACTERIZATION DECISIONS & ACTIONS You need a plan Management option: Consequences of the options at public health, economic, social & political levels
Towards an Evidence-based Toxicology Expert-based vs. toxicology evidence-based
Design Strategies Reducing Environmental Footprint Reformulate the product X2 Redesign the product X5 New ways to deliver function X 10 Redesign the system X 20 Source : Miller, Chemistry Innovation (2007)

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INSEAD Risk Management Introduction

  • 1. Risk Management and Innovation in the Health Care Industry: Are they (in)compatible? Introduction Dr. David Cocker The Big Pharma point of view Dr. Gerd Johnscher Senior Partner, MDCPartners Senior Consultant, Pharmakon Former Senior VP, Adviser to the CEO, UCB The Regulators point of view Prof. Bruno Flamion FUNDP University of Namur and CHMP The Economists and Innovator point of view Prof. Koenraad Debackere Managing Director of K. U. Leuven R&D Chairman of Gemma Frisius-Fonds The End-users point of view Mr. Jo De Cock General Manager, RIZIV/INAMI
  • 2. Risk Management and Innovation in the healthcare industry are they (in)compatible ? Good evening, my name is David Cocker and I am in the chair tonight.
  • 3. Talking about risk is of course one of the riskiest things one can do. There are so many experts about ! ( J.D.Remington, HSE, UK )
  • 4. Whats risk ? its very simple The risk the first speaker will look up wikipedia.org/historical_background/ the definition of risk.
  • 5. Once risks was in the hands of others Thx Peter Bernstein & Rembrandt
  • 6. Most of us view risk as either acceptable ..or unacceptable Thats if we have a choice ..
  • 7. Reputational People Share price Environmental Ecotox Compliance Risk Financial Investments Liabilities Human Health Efficacy Safety
  • 8. Risk Management Mitigate the risk of injury Mitigate the risk of accidents
  • 9. Study suggests heart attack risk persisted for one year after patients stopped taking Vioxx. Oct. 14 issue of The Lancet. The study "also appears to show the higher risk started soon after patients began taking Vioxx, though" the analysis "notes a small sample size precludes a definitive finding on this issue."
  • 10. Do you hold a good hand of cards ?
  • 11. NGOs are good at communicating emotion The industry is good at communicating data.
  • 12. Risk communication will be as important as the data to substantiate it
  • 13. time RISK MANAGEMENT RISK ASSESSMENT Hazard identification Dose (conc)-response (effect) Exposure assessment RISK CHARACTERIZATION DECISIONS & ACTIONS You need a plan Management option: Consequences of the options at public health, economic, social & political levels
  • 15. Design Strategies Reducing Environmental Footprint Reformulate the product X2 Redesign the product X5 New ways to deliver function X 10 Redesign the system X 20 Source : Miller, Chemistry Innovation (2007)