In 2016, a management professor at the Massachusetts Institute of Technology observed, "I know I run the risk of looking like a fool two or three years from now, but this sounds like some people are being bamboozled."
-MyNibandh
A year later, Ramaswamy's unbridled faith was put to the test for the first time, but it failed in a widely monitored clinical study for an Alzheimer's disease medication that was pulled out of pharmaceutical obscurity.
-MyNibandh
Destroying $2 billion in value and supporting the claim that Roivant's ostensibly novel business strategy was overly smart by half.
-MyNibandh
Derek Lowe, a scientist, posted an apology on his blog following the failure, saying, "I'm sorry for the people who bought into the hype and I'm sorry for the Alzheimer's patients and families who had hopes for this compound."
-MyNibandh
But in all honesty, I believe that the entire endeavor was a waste of money; Alzheimer's research would have benefited more from the same sum of money used practically anyplace else in the industry.
-MyNibandh
In a message to staff, Ramaswamy stated that the failure "is challenging and humbling for me on a deeply personal level." Although I personally find this tough, it might not be a terrible thing for our business:
-MyNibandh
I'll make sure to channel the "sting" I'm feeling right now to step up my efforts to make sure our business succeeds and that Roivant will be even stronger for having faced defeat.
-MyNibandh