The Importance of Specialized Research Experts in Niche Biopharma

NEW YORK, April 12, 2019 /PRNewswire/ -- The ability of a biopharmaceutical company to successfully develop experimental drug candidates is mostly dependant on the experience of their research and management teams. As such, the hiring of specialists with decades of experience can make or break future drug candidacy projects. Many big players in the biopharma space, such as Pfizer Inc. (NYSE: PFE), Johnson & Johnson (NYSE: JNJ), AbbVie Inc. (NYSE: ABBV), Thermo Fisher Scientific Inc. (NYSE: TMO), and ImmunoPrecise Antibodies Ltd. (OTC:IPATF) (TSX-V:IPA) have all been competing for some of the brightest minds in the industry. Stock prices of biotech firms are known to jump and crash on the slightest news. Companies invest significant resources in developing specific compounds and drugs as well as undergoing clinical tests and regulatory approvals. These businesses that don't have sufficient cumulative expertise are much less likely to succeed in the already tricky drug discovery process than those that do. As such, individuals with highly specialized biopharma backgrounds are fought over by major businesses who know full well the importance these experts play in the success of their future drug candidates. The Role Specialized Experts Play in Management While experienced management teams are essential for every business, this is especially true in certain highly specialized sectors. The amount of technical knowledge required in industries like biopharma means that professionals not frequently hired as executives (such as doctors, professors, and research experts) often play significant roles in management. Around 80 percent[1] of all CEO's in the biotech industry have direct experience working in the medical or pharmaceutical industry, often at first in non-managerial roles.