Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
¶ … Big Thing
I disagree with the argument, in large because of the wording in which it is presented. The argument put forth is as follows: "Some industry analysts now believe that much of the future market growth in drug development will come from small biotech start-up companies." The problem with that statement is that it ties drug development to market growth. Start-up companies may well lead the way in development, but they are ill-equipped to lead in market growth. They simply do not have the reach, and there are a variety of business models that highlight the mutually beneficial role that start-ups and large pharmaceutical companies play in bringing drugs to market.
A start-up company in biotech will typically consist of a small team of researchers, and maybe a few business people. Often, start-ups have no viable products on the market, and limited capital. This is almost by the very definition of a start-up company as one that just started -- no products, not much money, but a good idea. Audretsch (2001) explains the role of biotech start-ups in a paper about clustering in the biotech industry. Industry clusters occur where multiple firms exist in an industry in a small...
In biotech, North Carolina is a good example. In North Carolina, there are good universities that create the talent pool from which companies can draw. There are government and private sector incubators, such as the North Carolina Biotechnology Center. There are college and university programs to promote students entering the field and to help them find jobs when they graduate. There are employers of all sizes, leading to tremendous job growth. And there is capital. There are venture capitalists and other firms engaged in financing small biotech companies. Employees can therefore leave a big firm, start a small one, and get some seed capital to make this happen. That is how a cluster forms, and within that cluster each entity has its own role.
Small biotech companies has the capability of innovating. They are started by people with good ideas. The biggest obstacle that any small biotech firm faces is the cost of bringing a new drug to market. Regulatory costs are very high, and the time frame is long. Most new drug ideas never pass final regulatory approval. Those that do require years, and over $1 billion on average -- which does not include the cost associated with…
References
Audretsch, D. (2001). The role of small firms in U.S. biotechnology clusters. Small Business Economics. Vol. 17 (1) 3-15.
Comanor, W. & Scherer, F. (2011). Mergers and innovation in the pharmaceutical industry. University of California. Retrieved March 30, 2016 from http://www.ucema.edu.ar/conferencias/download/2011/12.07AE.pdf
Translating Biomedical Innovation / Mental Health and well being Managing Ideas: Commercialization Strategies for Biotechnology This article by Joshua and Scott Focuses on the commercialization aspect of biotechnology and stresses how important it is for innovators in the new and fast developing field of biotechnology to effectively forge collaboration with existing pharmaceutical market leaders in order to successfully create a new and strong value proposition for the healthcare sector. Biotech firms have
MESBIC's have been singularly unsuccessful, and have been deemphasized in recent years. Related to this are: State-sponsored venture capital investments. Countries and regions invest in venture capital funds as Limited Partners, meaning that they have the same or similar financial returns as all other investors in a Fund. In many cases, such state investments require some conditions on the privately-run venture fund. The most popular conditions include: fixed percentage threshold of
FMCG company PepsiCo Research on future consumer trends Section 1 deals with pertinent models and concepts to technology-led innovation management. It includes models like, Research and Development Model (RDM) which is about relevant product knowledge with respect to customer demands; Market Actors Model (MAM), which is all about gathering market knowledge and consumer's expectations; Operations Management Model (OMM), which is about creating a valued food culture; Culture Technology Model (CTM), which
The development of a bio-economy capable of supplying the world's energy demand is where the synthetic biologists wish to take this the next step. Additionally, biologists are able to develop a sort of biological acolyte from the principles of synthetic biology, involving synthesizing DNA in combination with the raw building blocks of genetics. A new platform for different biological life form is essentially, what these biologists have discovered. According to
Pharmaceutical industries have to operate in an environment that is highly competitive and subject to a wide variety of internal and external constraints. In recent times, there has been an increasing trend to reduce the cost of operation while competing with other companies that manufacture products that treat similar afflictions and ailments. The complexities in drug research and development and regulations have created an industry that is subject to intense
global business environment and organizations are vying with each other to obtain a share in this global business market. Innovation and intellectual property protection have become crucial for business success under these increasingly competitive market environments. The fast paced business culture and the changes that Organizations encounter require good leadership skills from the business manager. Today's managers have to be proactive and anticipatory of these change requirements. They have