In an effort to address declining R&D productivity in the pharmaceutical industry, many pharma companies look to the innovative entrepreneurialism of top performing biotech companies, leading to numerous changes to operating models and culture.
But what is the real “biotech-like” mentality that the industry is seeking?
In this paper, we characterise what sets the best biotechs apart and discuss:
- What a ‘biotech-like’ mentality entails in practical terms, and the six key attributes that it requires
- The issue of scale, and how this is inversely related to R&D productivity
- Why MidPharmas provide the ideal environment in which stability and scale can complement the dynamism of top performing biotechs
- How a group of MidPharmas are performing in relation to these attributes, with some expected and unexpected outcomes and plenty of interesting questions
While Big Pharma may benefit from being more like biotechs, MidPharmas are better positioned to use biotech-like attributes to their advantage. Harnessed properly, this can be the ideal environment for a biotech-like mentality to thrive.
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