NEW YORK, Sept. 21, 2021 /PRNewswire/ -- Unnecessary Expense: An Antidote for the Billion-Dollar Drug Problem by TRACON Pharmaceuticals President and CEO, Dr. Charles Theuer, is now available. The book is published with ForbesBooks, the exclusive business book publishing imprint of Forbes, and is available on Amazon today.
The problem of skyrocketing drug costs in America is well-documented. Driven by runaway drug development expenses, the average cost of $2 billion gets offloaded onto patients and third-party payers at premium rates, perpetuating the affordability issues many healthcare consumers struggle with today.
With Unnecessary Expense, Dr. Theuer exposes the fallacy at the heart of the billion-dollar drug problem, namely that drug development costs cannot be controlled, making the argument that clinical trial costs are not the price of doing business and instead can be limited by implementing a more efficient and cost-effective approach to developing life-saving treatments. Theuer's alternative approach to the outsourcing behaviors of Big Pharma is TRACON's streamlined model of aligned drug development, which harnesses global innovation to benefit patients and allow drug innovators to stay incentivized and involved as they navigate clinical trials and FDA approvals.
"A more streamlined approach to drug development will not only allow new therapies to reach the underserved populations who need them most in less time, but it will create greater value for stakeholders," Theuer explained. "Patients will benefit, drug developers will receive equitable profits to reward their ongoing commitment to innovation, and insurance companies will avoid paying premium prices for drugs approved for patients with rare diseases."
Dr. Theuer's work demonstrates that there is a better way. Through this new model, it becomes possible for a conscientious and equitably run biotech firm to succeed both economically and ethically in the drug development process, transform an industry, and ultimately save lives that would have been otherwise left in the margins of an inefficient system.
About Dr. Charles Theuer
Since 2006, Dr. Charles Theuer has served as the CEO, President, and Director of TRACON Pharmaceuticals. Prior to taking the helm at TRACON, Dr. Theuer was instrumental in bringing novel blockbuster oncology drugs to market, including Sutent® to treat advanced kidney cancer, while working as Director of Clinical Oncology at Pfizer. Dr. Theuer previously held senior management positions at notable biotechnology firms including TargeGen, Inc. and IDEC Pharmaceutical Corp. Earlier in his career, Dr. Theuer also worked at the National Cancer Institute and held academic positions at the University of California, Irvine. He completed a general surgery residency program at Harbor-UCLA Medical Center and was board certified in general surgery in 1997. Dr. Theuer's previous research involved immunotoxin and cancer vaccine development, translational work in cancer patients, and gastrointestinal cancer epidemiology. He is married with two adult children and enjoys hiking, coaching basketball, and sculling.
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Courtney Morrill, ForbesBooks, [email protected]