ISBN 9781591398400,Science Business

Science Business

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ISBN 9781591398400
Publisher

Harvard Universal Press

Publication Year 2006
ISBN-13

ISBN 9781591398400

ISBN-10 1591398401
Binding

Paper Back

Number of Pages 237 Pages
Language (English)
Subject

Biotechnology industries

Why has the biotechnology industry failed to perform up to expectations--despite all its promise? In Science Business, Gary P. Pisano answers this question by providing an incisive critique of the industry. Pisano not only reveals the underlying causes of biotech's problems; he offers the most sophisticated analysis yet on how the industry works. And he provides clear prescriptions for companies, investors, and policymakers seeking ways to improve the industry's performance.
According to Pisano, the biotech industry's problems stem from its special character as a science-based business. This character poses three unique business challenges: 1) how to finance highly risky investments under profound uncertainty and long time horizons for R&D, 2) how to learn rapidly enough to keep pace with advances in drug science knowledge, and 3) how to integrate capabilities across a broad spectrum of scientific and technological knowledge bases.

The key to fixing the industry? Business models, organizational structures, and financing arrangements that place greater emphasis on integration and long-term learning over shorter-term "monetization" of intellectual property. Pisano maintains that all industry players--biotech firms, investors, universities, pharmaceutical companies, government regulators--can play a role in righting the industry. The payoff? Valuable improvements in health care, and a shinier future for human well-being

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