This is from cooko55 this week, another of our directors in the...

This is from cooko55 this week, another of our directors in the news....how did CBZ recruit these guys?

Dr. Peter Corr thinks the business model that underpinned Big Pharma for years is irrevocably broken.

And he should know. Dr. Corr, a former global research and development chief for Pfizer, witnessed firsthand how big corporations approached product development, which, he says, was not particularly impressive. In fact, it was downright dysfunctional, Dr. Corr says.

"I saw more waste in the system than I ever seen before," he says.

Dr. Corr, now a general partner for the private equity firm Celtic Therapeutics in New York, spoke to Xconomy last week during a visit to the University of Michigan's North Campus Research Facility in Ann Arbor, MI.

It was a bit of a homecoming for Dr. Corr: as the top R&D executive for Warner Lambert/Parke Davis, he ran the Ann Arbor facility before Pfizer bought the company in 2000. A few years later, Pfizer closed the center and sold it to the U-M. Dr. Corr has nothing but fond memories of the building. Before Pfizer pulled out, the facility and another one in Sandwich, England were the company's two most productive sites, he says. (Lipitor, a popular anti-cholesterol drug was invented in Ann Arbor.)