{"id":34132,"date":"2013-03-12T22:32:16","date_gmt":"2013-03-13T02:32:16","guid":{"rendered":"http:\/\/1boringoldman.com\/?p=34132"},"modified":"2013-03-12T22:32:16","modified_gmt":"2013-03-13T02:32:16","slug":"the-light-of-day","status":"publish","type":"post","link":"https:\/\/1boringoldman.com\/index.php\/2013\/03\/12\/the-light-of-day\/","title":{"rendered":"the light of day&#8230;"},"content":{"rendered":"<div align=\"justify\"><sup><strong> &quot;<em>For some reason, the [American] people I meet in my country are not the same as the ones I knew in the United States. A mysterious change seems to come over Americans when they go to a foreign land. They isolate themselves socially. They live pretentiously. They&#8217;re loud and ostentatious.<\/em>&quot;<\/strong><\/sup><\/div>\n<div align=\"right\"><sup><strong><em>The Ugly American<\/em> -1958<\/strong><\/sup><\/div>\n<p>  <\/p>\n<div align=\"justify\"><img decoding=\"async\" vspace=\"2\" hspace=\"4\" height=\"120\" border=\"0\" align=\"right\" src=\"http:\/\/1boringoldman.com\/images\/ugly.gif\" \/>Sometimes, a book title takes on a larger meaning than the book itself. <a href=\"http:\/\/en.wikipedia.org\/wiki\/The_Ugly_American\" target=\"_blank\">The Ugly America<\/a>, [1958] was made into a feature film with Marlon Brando [1963] and it lives on as a moniker to the crude American capitalist overseas who exploits the <em>locals<\/em>, even though that&#8217;s not exactly the theme of the book. I thought of it when I first looked into the <a target=\"_blank\" href=\"http:\/\/1boringoldman.com\/index.php\/2011\/03\/05\/the-clinical-research-industry-time-to-market-and-beyond\/\">Clinical Research Organizations<\/a>, reading the ACRO &quot;white paper&quot; about how globalized clinical trials were <em>good for<\/em> developing countries. It smelled like rotten fish to me for two reasons: it reeked of exploitation and I wondered about the usefulness of clinical trials in countries where the problems aren&#8217;t in the DSM but rather in their disparate sociology [see <a href=\"http:\/\/1boringoldman.com\/index.php\/2013\/02\/03\/on-a-war-footing\/\">slumdog trials: on a war footing&hellip;<\/a>]. &#8230;<\/div>\n<blockquote>\n<div align=\"center\"><a target=\"_blank\" href=\"http:\/\/www.pharmalot.com\/2013\/03\/trial-deaths-but-little-compensation-in-india\/\">Trial Deaths, But Little Compensation In India<\/a> <br \/>   <strong><font color=\"#004400\">Pharmalot<\/font><\/strong><br \/>    By Ed Silverman<br \/>        March 12th, 2013<\/div>\n<p align=\"justify\"><sup><strong>As  India attempts to craft new rules for governing clinical trials,  another report focuses attention on an underlying problem plaguing both  regulators and the pharmaceutical industry &ndash; the number of patient  deaths attributed to trials and the contentious issue of compensation by  drugmakers. To wit, as m<\/strong><\/sup><sup><strong>any 2,868 deaths occurred during trials between 2005 to  2012, although only 89 have been attributed directly to the studies.  However, compensation was paid in just 45 cases. Last year, 16 of 436  deaths among participants were attributed to trials, although  compensation was paid in only two cases.<\/strong><\/sup><\/p>\n<p align=\"justify\"><sup><strong>These sorts of patterns last month prompted the Indian Supreme Court  to harshly criticize regulators for shoddy oversight and enforcement. An  amended rule would require the Drugs Controller of India to ensure  trials are conducted with good clinical practices, approved by ethics  committees, registered before patients are enrolled, provide annual  status reports and report adverse events with 10 days of occurrence [<a target=\"_blank\" href=\"http:\/\/www.pharmalot.com\/2013\/02\/indian-clinical-trial-rules-compensation-patient-harm\/\">back story<\/a>]. Compensation, however, is causing tension. India&rsquo;s Central Drugs  Standard Control Organization wants to require drugmakers and contract  research organizations to make payments determined by the Drug  Controller General of India within 30 days of injury or death. If  payment is not made, CDSCO can cancel a trial and ban the drugmaker or  CRO from conducting studies in India.<\/strong><\/sup><\/p>\n<p align=\"justify\"><sup><strong>As we reported last month, the Association of Clinical Research  Orga<\/strong><\/sup><sup><strong>nizations reacted by saying India would become &ldquo;an extremely  difficult and risky place to do business&hellip; ACRO is in the process of  assessing the political, legal, regulatory and business climate in India  with the hope that we can form a strategy to move forward.&rdquo; We also wrote that clinical trials conducted by global drugmakers and  their proxies have generated increased scrutiny in recent years as the  pharmaceutical industry seeks to run studies in countries with lower  costs and populations where patients are not exposed to as many  medications that can confound results. India has been a prime example.<\/strong><\/sup><\/p>\n<div align=\"justify\"><sup><strong>However, the country may be losing its edge. The domestic market was  worth about $485 million in 2011, according to the Frost &amp; Sullivan  market research firm, which predicts this could double to $1 billion by  2016. And the relatively low cost of conducting trials and a  fast-growing population of 1.2 billion should mean that India remains a  desirable destination. But less than 1.5 percent of global trials take  place in India, according to the Indian Society for Clinical Research. Nonetheless, the large pool of willing trial participants almost  guarantees that drugmakers and CROs will not lack for subjects. The  government, however, is trying to make clear that greater accountability  is required. For instance, the number of patients deaths linked to  clinical trials between 2005 and 2007 was small &ndash; a total of just 11 &ndash;  but compensation was never paid in any of these cases.<\/strong><\/sup><\/div>\n<\/blockquote>\n<div align=\"justify\">&quot;<em>as many 2,868 deaths<\/em>&quot; is kind of an attention grabber. And as for ACRO, &quot;<em>As we reported last month, the Association of Clinical Research  Organizations  reacted by saying India would become &#8216;an extremely  difficult and risky  place to do business&hellip; ACRO is in the process of  assessing the  political, legal, regulatory and business climate in India  with the  hope that we can form a strategy to move forward.&#8217;<\/em>&quot; I&#8217;m going to be suggesting that from the sound of things, it&#8217;s &quot;<em>an extremely  difficult and risky  place<\/em>&quot; to be a subject in an American Pharmaceutical Company&#8217;s Clinical Trial. But it says something about how different Clinical Trials look up close than as Mean HAM-D Scores on a glossy LOCF graph.<\/div>\n<p> <\/p>\n<div align=\"justify\">\n<div>A year or so ago, I ran across another aspect of the CRO  reach that was a bit outside of my comprehension &#8211; direct access to  electronic health records:  <\/div>\n<ul>\n<li>\n<div><u><strong><a target=\"_blank\" href=\"http:\/\/1boringoldman.com\/index.php\/2011\/11\/23\/an-invisible-empire-ii\/\"><font color=\"#300030\">an invisible empire II&hellip;<\/font><\/a><\/strong><\/u><\/div>\n<\/li>\n<\/ul>\n<p>      Then recently, I ran across this [see #4]:         <\/p>\n<blockquote>\n<div align=\"center\"><a target=\"_blank\" href=\"http:\/\/medcitynews.com\/2013\/02\/5-interesting-things-from-quintiles-ipo-filing\/\">5 interesting things from Quintiles IPO filing<\/a><br \/>        <font color=\"#200020\">MedCity News<\/font><br \/>       by Stephanie Baum<br \/>        February 15, 2013 9:16 pm <\/div>\n<p align=\"justify\"><sup><strong>The <a target=\"_blank\" href=\"http:\/\/theclinicaltrialsguru.com\/blog1\/2012\/11\/quintiles-ceo-not-discussing-plans-for-ipo-but-is-talking-about-how-clinical-trials-will-probably-work-in-the-future\/\">rumors, it seems were true after all.<\/a>  In an environment where initial public offerings by life science  companies have all but dried up, Quintiles,  the largest contract  research organization, has filed documents with  the Securities and  Exchange Commission seeking to raise up to $600  million in an IPO. This  is Quintiles&rsquo; second IPO. Its first was in 1994 but it went private  again in 2008 with private equity owners TPG Capital and Bain Capital.  The move comes less than a year after Dennis Gillings, the founder,  stepped down as CEO and became executive chairman.<\/strong><\/sup><sup><strong>  When the rumors of an IPO were just beginning to rev up, Jessica  Gladstone, a senior analyst at Moody&rsquo;s told Bloomberg:  &ldquo;I view the fact  that they have a new CEO now as potentially a sign  that they&rsquo;re  preparing their next leg of growth or next strategy, which  could  include an IPO&hellip;An IPO could also be a way to reduce leverage and  an  exit strategy for the owners.&rdquo; S1 filings often  yield some interesting  facts about the company and its place in in the  market it would usually  shield from view. Here are 5 interesting things gleaned from its S1  filing:<\/strong><\/sup><\/p>\n<ol><sup><strong>        <\/p>\n<li>\n<div align=\"justify\">A  company that got its start 31 years ago to make drug testing for  pharmaceutical companies more efficient has grown from a modest  five  employees to a behemoth employing more than 27,000 in 100 offices  in 60  countries and generated $4.8 billion in revenues last year. It  also  made $177.5 million in net income. Although its CRO division  generated  74 percent of its revenues, its  integrated healthcare services was  responsible for the rest. That  division provides the sales workforce  for its contract pharmaceutical  sales and also provides healthcare  services such as outcome-based and payer and provider services.<\/div>\n<\/li>\n<li>\n<div align=\"justify\">Of  all the new molecular entities and new biologic applications approved  between 2004 and 2011, it helped develop  or commercialize <font color=\"#990000\">85 percent of central nervous system drugs<\/font>, 76 percent  of the oncology drugs and 72 percent of the cardiovascular drugs. <\/div>\n<\/li>\n<li>\n<div align=\"justify\">Total   biopharmaceutical spending on drug development was $91 billion in  2011.  Spending on clinical development, apart from preclinical  development,  was $48 billion. Clinical  development spending outsourced  to CROs in Phases I-IV trials in 2011  amounted to $16 billion. It  projects that amount will grow to $22  billion by 2015. <font color=\"#990000\">It expects outsourced clinical development to CROs to  grow 5 percent to 8 percent annually over the next few years.<\/font> In 2012, there were approximately 4,028 drugs in the Phase I-III pipeline, an increase of 18% since 2008.<\/div>\n<\/li>\n<li>\n<div align=\"justify\"><font color=\"#990000\">It currently has access to de-identified electronic health record data representing more than 40 million patients.<\/font><\/div>\n<\/li>\n<li>\n<div align=\"justify\">Quintiles   sold its minority investment in Invida Pharmaceutical Holdings in 2011   for $103.6 million of net proceeds, resulting in a gain of $74.9   million. Quintiles had started Invida in 2005 with Asian pharmaceutical  distribution firm The Zuellig Group and Asia investment company TLS  Beta.<\/div>\n<\/li>\n<p>       <\/strong><\/sup><\/ol>\n<\/blockquote>\n<p>      &#8230;&quot;<em>de-identified electronic health record data representing more than 40 million patients<\/em>&quot; will get one&#8217;s attention. And how do they get that kind of access?<\/div>\n<p align=\"justify\">It seems to me that everything that has anything to do with the clinical trials industry has big numbers attached. <em>millions of records<\/em>. <em>billions of dollars<\/em>. <em>thousands of deaths<\/em>. And there&#8217;s often some questionable piece in the story. <\/p>\n<div align=\"justify\"><strong><font color=\"#990000\">AllTrials<\/font><\/strong> is a great place to start, but there&#8217;s a lot more about these Clinical Trials than just data that needs to see the light of day&#8230;<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&quot;For some reason, the [American] people I meet in my country are not the same as the ones I knew in the United States. A mysterious change seems to come over Americans when they go to a foreign land. They isolate themselves socially. They live pretentiously. They&#8217;re loud and ostentatious.&quot; The Ugly American -1958 Sometimes, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-34132","post","type-post","status-publish","format-standard","hentry","category-politics"],"_links":{"self":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/34132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/comments?post=34132"}],"version-history":[{"count":10,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/34132\/revisions"}],"predecessor-version":[{"id":34142,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/34132\/revisions\/34142"}],"wp:attachment":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/media?parent=34132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/categories?post=34132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/tags?post=34132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}