Has Genomics Failed to Deliver?

Abstract

Following its conception more than a decade ago, the field of genomics excited the research community with the possibility of a faster, surer route to drug discovery, but this optimism has quickly faded and the industry is reassessing its prospects. To date, no genomics-derived product has successfully completed Phase III trials, and it will be another two to four years before a significant number of the genomics compounds now in early-stage development reach this critical juncture. In the meantime, genomics companies face the continuing challenge of supporting the cost of clinical development. In this report, we examine the success that the biotechnology industry, in contrast to the genomics industry, has had with drug discovery; profile today's genomics companies and their pipelines; provide a SWOT analysis of the strengths (S), weaknesses (W), opportunities (O), and threats (T) facing the genomics industry; describe the various strategies that companies are using to improve their financial situation and get products to market; and discuss the outlook for the genomics industry, including the development of personalized medicine and genomics-derived diagnostics