Richard Francis on AI in drug development

One in every 13 prescriptions in the US is a generic from Teva. Now, CEO Richard Francis is focusing on drug development, delivering better medications faster. https://www.medscape.com/viewarticle/... -- TRANSCRIPT -- John Whyte, MD, MPH: Leading the charge towards a healthier future requires vision, bold ideas, and the courage to innovate. Richard Francis, the CEO of Teva Pharmaceuticals, is redefining what it means to lead in both generic drugs as well as new drug development. He talks about this need to pivot to growth, a strategy that is transforming his company. I recently traveled to sit down with Richard to learn about his new vision for Teva, his thoughts on what the real impact of AI on drug development will be, in addition to his belief that the adoption of biosimilars will accelerate. He also explained how sports has impacted his leadership style. It's all about the talent. Well, Richard, thanks for joining me today. Richard Francis: It's great to be here, John. Whyte: Teva traditionally is thought of as a generics company, at least historically. Yet you've been focused on innovation and growth, and you even have a phrase for it, this pivot to growth strategy. So I have to ask, why the pivot? Francis: Well, firstly, thanks for asking because it's an important question. And I do want to say, Teva has a very big tradition and legacy in generics. We're very proud of that. I think one in 13 scripts in the United States is one of our generic medicines, so we're the cornerstone of health. But we're also a company capable of great innovation. And we've had that in the past with the product for multiple sclerosis called copaxone, which is an amazing drug, helped many patients and still does today. But we have this capability. And the pivot to growth is about getting Teva back to growth after a number of years of decline. Part of the opportunity we see is this rich pipeline we have that, if we focus on it and apply resources to it, then we can bring those products to the market. And that will be something that really drives sustainable growth for the long term. So it is something we've always had. And I think if we're successful, I'd like to think that people say, “Teva is an amazing pharmaceutical company that happens to have a world-class generics company and a world-class innovative business.” Whyte: As part of this pivot strategy, you have these pillars. Can you talk a little bit about them? Francis: Yes. So when I came into the company, it was clear that wanting to get the company back to growth is more than a tagline, pivot to growth. So there's got to be something of substance that we can really direct the organization. And by the way, we had 6 years of decline of revenue. So to go back to growth was a challenge and a big challenge. And so when we put the strategy together, pivot to growth, we really wanted to know what we needed to focus on. And that's where the four pillars come in. So pillar 1 was simply deliver on our growth engines. And our growth engines are our innovative products — Austedo, Ajovy, and Uzedy: Austedo for tardive dyskinesia and Huntington's disease, Ajovy for migraine, and Uzedy for schizophrenia. So that's pillar 1. So what does that mean is we need to put resources and build capability to maximize those products. Pillar 2 was step up innovation, going back to your opening question around, are we generics company or are we innovative? So the innovative pipeline we had here, I came in and I sat down with Dr. Eric Hughes, our head of R&D, and he showed me our pipeline. And I went, wow, this would be a cool pipeline in any innovative company. Whyte: Because you feel there can be both. There can be generics and innovation. Transcript in its entirety can be found by clicking here: https://www.medscape.com/viewarticle/...