The Pharma Industry Goes to Market

Pharma professionals, we want your input!

Last week, our team and several MIT and Harvard professors got together at the Eye for Pharma Conference to launch the Pharmer’s Market – a new prediction market focusing on the likelihood of breast cancer drugs passing through the phases of drug clinical trials, which is open to every pharma pro with knowledge and opinions on these matters. The idea for the Pharmer’s Market began with Ragu Bharadwaj, Eric von Hippel and Fiona Murray of MIT’s Sloan School of Management as well as Peter Coles of Harvard Business School, who is serving as an advisor.

The market, built on our Team Intelligence Platform, takes insight from every person involved, using the “wisdom of the crowds” to leverage information from individual participants. The Pharmer’s Market is currently predicting the outcomes of six breast cancer drugs with the long term goal of being a resource for the pharmaceutical community – continuing to test drugs in other areas. The results will help to determine if the drugs will pass their trials, giving the public and medical field at large a better understanding of the safety and efficacy of these drugs and compounds. Its results will help avoid duplicate efforts, saving both money and time in the research process – a huge hurdle in the industry right now.

Breast cancer is one of the most highly diagnosed cancers in the United States for women. It is exciting for us to see the market launch and grow knowing its results can have a huge impact on outcomes, our health and our future. Current members in the market include drug researchers at pharmaceutical companies, chemists, researchers in academia and the government, pharmaceutical financial analysts and others from the medical community.

As I mentioned earlier, the Pharmer’s Market is open to anyone with an interest or experience in the medical community. If you would like to learn more or join the market, you can visit http://pharmersmarket.crowdcast.com.