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Unsettling Pharma Development Process via Blockchain

Insulin costs approximately $6,000 annually for an insured patient in the United States, a ripple effect of the America’s for-profit healthcare system. To get over the consequences of the current system of government not focused on deploying a fair, and equitable healthcare system, and services, innovative ideas are being considered.

Associated with Insulin, one alternative idea proposed suggests a collective ownership of the therapy attained by diabetics. It has been over forty years since the transformation of the drug Development technology from being system focused that for instance examined heart, liver, spleen to a more molecular focused medicine representing targeted therapies. Despite the extensive Development in the drug Development field, the pharmaceutical business model has not undergone any significant shift. Specifically considering insulin treatment, typically used insulin types are estimated to cost ten time more in the United States as compared to any other high-income country.

The three most significant pharmaceutical giants producing ninety percent of the total insulin in the U.S include Eli Lilly along with Novo Nordisk, and Sanofi Aventis. Current situation for most diabetics in the United States is sketchy. There are continuing efforts proposing alternative models only waiting for the pharmaceutical world to be prepared for the onset of innovation.

Surging innovation calls for a thorough restructuring of the industry. The idea to achieve a breakthrough in the insulin support will be driven by the support of the diabetics. The new models represent a new type of organisation such as the Decentralised Autonomous Organisation which will exist on a blockchain.

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