I thought this was a great post by Bruce Booth of the Life Sci VC blog (or maybe I just like his first name). In it, he analyzes the make-up of the Board of Directors (BOD) of the top 12 Big Pharma Companies. To his (and surely my) surprise, he finds that only 3 BOD members out of 182 are from the biotech industry. While he freely acknowledges that not all BOD members should be from biotech -- don't you think more you'd find more than 3? Especially when the industry is chanting as one that they want to become more biotech-like, especially in regard to how they approach R&D?
Bruce recommends that shareholders and activist investors in these companies really should be pushing their BOD to alter their make-up to give more seats to former biotech execs who can help formulate the strategy of becoming more "biotech-like" with the obvious benefit of having been in the game before. Strong members with positive and negative experiences can't but help to improve decision making for these companies. It seems like a no-brainer and one that is quite past due.
Posted by Bruce Lehr July 19th 2011.