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Biotech reinvented Where do you go from here?

The biotechnology industry (Biotech) is now about 30 years old – a long enough time in which to evaluate how it’s done. Unfortunately, despite some notable successes, it hasn’t completely fulfilled its promise. The business model on which Biotech has historically relied is also breaking down, as the research base moves east and raising funds gets harder. And the distinctions between Biotech and the pharmaceutical industry (Pharma) are disappearing, with the convergence of the two sectors. But Biotech can’t turn to Pharma for guidance because Pharma’s business model has other flaws – as we explained in “Pharma 2020: Challenging business models”, the White Paper we published in April 2009.1 So what should Biotech do?

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