Philip A. Rea, Professor of Biology and Rebecka and Arie Belldegrun Distinguished Director, co-founded the Roy and Diana Vagelos Program in Life Sciences and Management at the University of Pennsylvania. A Fellow of the American Association for the Advancement of Science, he has received several prestigious prizes and awards for his pioneering research on membrane transporters and his creative science teaching, including the President's Medal of the Society for Experimental Biology and a Lindback Foundation Award for Distinguished Teaching. Mark V. Pauly currently holds the position of Bendheim Professor in the Department of Health Care Management at the Wharton School of the University of Pennsylvania. He is also co-founder of the Roy and Diana Vagelos Program in Life Sciences and Management. As one of the nation's leading health economists, he has published widely and made many significant contributions to the fields of medical economics and health insurance. He has served on Institute of Medicine panels on public accountability for health insurers under Medicare and on improving the financing of vaccines. Lawton R. Burns is James Joo-Jin Kim Professor in the Health Care Management Department at the Wharton School of the University of Pennsylvania. He is also the co-director of the Roy and Diana Vagelos Program in Life Sciences and Management, and Program Leader for Healthcare Management at the Indian School of Business. He is co-editor of Health Care Management: Organization Design and Behavior (2012), and author of The Business of Healthcare Innovation (2012) and India's Healthcare Industry (Cambridge, 2014).

'The authors captured the magic of the biomedical industry from the inception of an idea through translational studies that lead to a product that can transform lives. Case studies illustrate the importance of scientific understanding, long periods of experimentation, willingness to take risks. This book is a 'must read' for anyone who wants to better understand drug discovery.' P. Roy Vagelos, Chairman, Regeneron Pharmaceuticals, Inc

• Preface; 1. Discoveries now and then: shifting incentives and expectations Mark V. Pauly, Philip A. Rea and Lawton R. Burns; 2. Pharma trends: not what they seem Kyle Myers and Mark V. Pauly; 3. Profit maximizing drug firms: models and myths Vicki Chen and Mark V. Pauly; Transitional note: introduction to the case studies; 4. The Statins: cholesterols 'penicillins' Philip A. Rea; 5. ACE inhibitors: kidney clamps, snake venoms and peptidomimetics Alec Ren and Philip A. Rea; 6. Angioplasty: catheters, guidewires and balloons Simon Basseyn, Sourav Bose, Lawton R. Burns and Chris Groskaufmanis; 7. Hepatitis C: when cures and prices go viral Stephen Goldstein, Peter M. Stokes, Connie Lu and Philip A. Rea; 8. Alzheimer's: America's new most feared disease Julian Pei, John Q. Trojanowski, Peter M. Stokes, Katherine Clark, Mark V. Pauly and Philip A. Rea; 9. Metformin: to the brink and back Anderson Y. Tien and Philip A Rea; 10. Medical genomics: personalized precision Marc S. Williams; 11. Gleevec: from broken chromosomes to precision cancer therapy Vivek Nimgaonkar and Philip A. Rea; 12. Regeneron: agility, resilience and balance Lawton R. Burns, Alex Rosen, Steven Nichtberger and Philip A. Rea; 13. Avastin and Lucentis: both for eyesight in hindsight Osama Ahmed, Mark V. Pauly, Peter M. Stokes and Philip A. Rea; 14. CAR T-cell therapy: cures for ALL and more? Stephen Goldstein, Amy Le and Philip A. Rea; 15. Organizing discovery: wild ducks nested in multilevel ecosystems Lawton R. Burns and Philip A. Rea; 16. Can government help with the creatively unexpected? Mark V. Pauly, Lawton R. Burns and Philip A. Rea; Appendix: three key elements in the discovery process: historical and philosophical antecedents Mark V. Pauly; Index.

Philip A. Rea, Professor of Biology and Rebecka and Arie Belldegrun Distinguished Director, co-founded the Roy and Diana Vagelos Program in Life Sciences and Management at the University of Pennsylvania. A Fellow of the American Association for the Advancement of Science, he has received several prestigious prizes and awards for his pioneering research on membrane transporters and his creative science teaching, including the President's Medal of the Society for Experimental Biology and a Lindback Foundation Award for Distinguished Teaching. Mark V. Pauly currently holds the position of Bendheim Professor in the Department of Health Care Management at the Wharton School of the University of Pennsylvania. He is also co-founder of the Roy and Diana Vagelos Program in Life Sciences and Management. As one of the nation's leading health economists, he has published widely and made many significant contributions to the fields of medical economics and health insurance. He has served on Institute of Medicine panels on public accountability for health insurers under Medicare and on improving the financing of vaccines. Lawton R. Burns is James Joo-Jin Kim Professor in the Health Care Management Department at the Wharton School of the University of Pennsylvania. He is also the co-director of the Roy and Diana Vagelos Program in Life Sciences and Management, and Program Leader for Healthcare Management at the Indian School of Business. He is co-editor of Health Care Management: Organization Design and Behavior (2012), and author of The Business of Healthcare Innovation (2012) and India's Healthcare Industry (Cambridge, 2014).

'The authors captured the magic of the biomedical industry from the inception of an idea through translational studies that lead to a product that can transform lives. Case studies illustrate the importance of scientific understanding, long periods of experimentation, willingness to take risks. This book is a 'must read' for anyone who wants to better understand drug discovery.' P. Roy Vagelos, Chairman, Regeneron Pharmaceuticals, Inc

• Preface; 1. Discoveries now and then: shifting incentives and expectations Mark V. Pauly, Philip A. Rea and Lawton R. Burns; 2. Pharma trends: not what they seem Kyle Myers and Mark V. Pauly; 3. Profit maximizing drug firms: models and myths Vicki Chen and Mark V. Pauly; Transitional note: introduction to the case studies; 4. The Statins: cholesterols 'penicillins' Philip A. Rea; 5. ACE inhibitors: kidney clamps, snake venoms and peptidomimetics Alec Ren and Philip A. Rea; 6. Angioplasty: catheters, guidewires and balloons Simon Basseyn, Sourav Bose, Lawton R. Burns and Chris Groskaufmanis; 7. Hepatitis C: when cures and prices go viral Stephen Goldstein, Peter M. Stokes, Connie Lu and Philip A. Rea; 8. Alzheimer's: America's new most feared disease Julian Pei, John Q. Trojanowski, Peter M. Stokes, Katherine Clark, Mark V. Pauly and Philip A. Rea; 9. Metformin: to the brink and back Anderson Y. Tien and Philip A Rea; 10. Medical genomics: personalized precision Marc S. Williams; 11. Gleevec: from broken chromosomes to precision cancer therapy Vivek Nimgaonkar and Philip A. Rea; 12. Regeneron: agility, resilience and balance Lawton R. Burns, Alex Rosen, Steven Nichtberger and Philip A. Rea; 13. Avastin and Lucentis: both for eyesight in hindsight Osama Ahmed, Mark V. Pauly, Peter M. Stokes and Philip A. Rea; 14. CAR T-cell therapy: cures for ALL and more? Stephen Goldstein, Amy Le and Philip A. Rea; 15. Organizing discovery: wild ducks nested in multilevel ecosystems Lawton R. Burns and Philip A. Rea; 16. Can government help with the creatively unexpected? Mark V. Pauly, Lawton R. Burns and Philip A. Rea; Appendix: three key elements in the discovery process: historical and philosophical antecedents Mark V. Pauly; Index.