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

ISBN-10: 1591398401
ISBN-13: 9781591398400
Edition: 2007
Authors: Gary P. Pisano
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Description: The biotech industry constitutes one of the most profound experiments of our time. It is a global-scale effort to take fundamental advances in bio-sciences and convert them into successful businesses that add value to our economy and enhance our  More...

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Book details

List price: $35.00
Copyright year: 2007
Publisher: Harvard Business Review Press
Publication date: 11/1/2006
Binding: Hardcover
Pages: 256
Size: 6.25" wide x 9.25" long x 1.00" tall
Weight: 0.528
Language: English

The biotech industry constitutes one of the most profound experiments of our time. It is a global-scale effort to take fundamental advances in bio-sciences and convert them into successful businesses that add value to our economy and enhance our health and quality of life. But so far, the grand promise of this industry has not been fulfilled, and there is a general acknowledgment that the sector has failed to perform up to expectations. Why? Gary Pisano, who has spent virtually his entire career studying various aspects of the biotech and pharmaceutical industries, makes a compelling argument that this failure is due to the special character of biotech as a science-based business, and gives a clear-eyed and provocative assessment of deep flaws in the industry resulting from the clash of the distinct realms of science and business. In particular, he identifies three salient characteristics of “drug science” that create unique business challenges: (1) drug science is characterized by profound uncertainty and long time horizons for R&D—so how do you finance investments under these conditions?; (2) drug science knowledge is accumulating at an extremely rapid pace, and builds cumulatively in ways that other technological advances don’t—so how do you learn rapidly enough to keep pace with such advances?; and (3) the drug science revolution actually is made up of a constellation of scientific revolutions—so how do you integrate efforts across a broad spectrum of scientific and technological capabilities? The author then turns to prescription, arguing that the key to fixing the industry lies in funding arrangements and arrangements for monetizing intellectual property. This is truly our most contemporary and complex industry, integrally involving biotech firms, investors, universities, established pharmaceutical companies, government regulators, and other players. Pisano argues, compellingly, that the stakes for righting the industry are too high to ignore, with not o nly the fate of the biotech and pharma industries on the line, but also health care and, indeed, the future of human health.

ROBERT H. HAYES is the Philip Caldwell Professor of Business Administration, Emeritus, at the Harvard Business School. He has published widely; three of his articles won McKinsey Awards for the best articles published in the Harvard Business Review during those years. His latest book, Strategic Operations: Competing Through Capabilities (coauthored with Gary Pisano and David Upton ), was published in 1996.GARY P. PISANO is the Harry E. Figgie, Jr. Professor of Business Administration at the Harvard Business School. Since joining the Harvard faculty in 1988, he has taught both MBA and executive level courses on technology and operations management, operations strategy, competitive strategy, product development, the management of innovation, and health care. Pisano is a widely published author with over 25 research papers published in such journals as Management Science, Administrative Science Quarterly, and the Harvard Business Review. He has also written case studies on such companies as BMW, ITT-Automotive, Intel, and Eli Lilly.DAVID M. UPTON has been on the faculty of the Harvard Business School since 1989. He is currently course head for the required first-year MBA course in Technology and Operations Management and has taught second-year elective courses in Operations Strategy and Operations Improvement and Information Technology.STEVEN C. WHEELWRIGHT is the Edsel Bryant Ford Professor of Business Administration, Retired, at Harvard Business School. Along with Harvard colleagues Bob Hayes and Kim Clark, Professor Wheelwright has also published the highly regarded book, Dynamic Manufacturing: Creating the Learning Organization (Free Press, 1988).

The science-based business : a novel experiment
Mapping the scientific landscape
The complex anatomy of drug R&D
Drug R&D and the organizational challenges
The anatomy of a science-based business
The performance of the biotech industry : promise versus reality
The monetization of intellectual property
Organizational strategies and business models
The path ahead
Biotechnology companies used in the analyses of the industry
List of pharmaceutical companies used in productivity analysis

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