Fierce Biotech quotes spokesmen from GSK, AstraZeneca, Merck and Roche -- who were participating in a BIO panel discussion on deal-making between Big Pharma and Biotechs. Here's some of the choicer tidbits from the panel:
- The industry is focusing first on the best science when looking for deals
- There's a delicate balance between internal R&D efforts and the need for biotech deals
- Small biotech's main priority when looking for deals shouldn't be the biggest financial reward
- We're all trying to turn opportunities around in a much more thoughtful way
- The most important currency Big Pharma can bring to the deal is its R&D know-how
- Once a biotech has Phase I data, it's time to look for partnerships
- Before Phase I it is difficult to make any financial valuation
Hmmm! Let's see. We aren't satisfied with our internal R&D efforts but the biggest currency we can lend to the deal is R&D expertise. We're looking for the best science -- so when you get yours to Phase I (not preclinical science apparently as we can't value it) bring it to us and don't look for the best price you can get. We'll take it from there with our superior science.
I get it. NOT!
Posted by Bruce Lehr June 30th 2011.