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Terry McCormick

As you note, this could be expected given the competitive market situation we see now. But it is amazing to me that it took so long to be "topical". Back in 2004, I was advising one of the top two pure biotech firms to get ready for that competition. My point was that traditional Big Pharma HAD to shift to biotech to survive. They did not see that as a threat, feeling their lead and expertise could not be matched...

The thing then as now is the economics. A simple graphic I used then is still relevent: http://www.randdreturns.com/converts-to-big-biopharma/ This is why firms like BMS have completely reinvented themselves towards biotech R&D.

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