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Science Business: The Promise, the Reality, and the Future of Biotech

Overview


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 policy makers seeking ways to improve the industry's performance. According to Pisano, the biotech ...
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Overview


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 policy makers 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: how to finance highly risky investments under profound uncertainty and long time horizons for R&D, how to learn rapidly enough to keep pace with advances in drug science knowledge, and how to integrate capabilities across a broad spectrum of scientific and technological knowledge bases.The key to fixing the industry? Business models, organisational structures, and financing arrangements that place greater emphasis on integration and long-term learning over shorter—term 'monetisation' 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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Editorial Reviews

Wall Street Journal
Science Business" provides a fascinating history of pharmaceuticals and biotechnology.
BusinessWeek Online
Pisano argues that as a business, the biotech sector hasn't matched the innovations of its science.
The Boston Globe
How could an industry invented and staffed by brilliant, capable people have such a dismal long-term financial record? And why do investors keeping throwing money into the ring?
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Product Details

  • ISBN-13: 9781591398400
  • Publisher: Harvard Business Review Press
  • Publication date: 11/14/2006
  • Edition description: 1ST
  • Pages: 237
  • Sales rank: 964,717
  • Product dimensions: 6.40 (w) x 9.30 (h) x 1.10 (d)

Meet the Author


Gary P. Pisano is the Harry E. Figgle Jr. Professor of Business Administration and Head of the Technology and Operations Management unit at Harvard Business School.
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