Biotech and pharma companies will need to work together to create value
Governments around the world are trying to cut healthcare costs, and finding new drugs is getting harder. We've taken a closer look at what this means for the biotech industry in particular.
Biotech hasn't yet changed the face of drug development
The industry is now about 30 years old but it hasn’t completely fulfilled its promise. Drugs aren't being developed notably faster, cheaper, or with less risk. The Biotech business model relied on lots of seed money from financial investors, but this is getting harder to come by as the research base moves east and emerging economies fight for their share.
Boundaries between biotech and pharma are blurring
Biotech and Pharma are effectively becoming one industry - the biopharmaceutical industry - although there's a limit to how far Pharma can go down the Biotech route. Pharma can't copy Biotech's discovery and development methodology too closely and, even if it could, Biotech hasn't brought a golden era of productivity that would justify doing so. All biopharmaceutical companies - whether biotechnological or pharmaceutical in origin - will have to adopt a very different business model.
To read the full, original article click on this link: Biotech reinvented: Where do you go from here?
