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Science Business: The Promise, the Reality, and the Future of Biotech (Hardcover)

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Key Phrases: public equity investors, new biotech firms, established pharmaceutical companies, Eli Lilly, United States, Human Genome Project (more...)
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Science Business: The Promise, the Reality, and the Future of Biotech + Science Lessons: What the Business of Biotech Taught Me About Management + From Alchemy to IPO: The Business of Biotechnology
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Editorial Reviews

Review

"Pisano argues that as a business, the biotech sector hasn't matched the innovations of its science." -- BusinessWeek Online, December 20, 2006

"Science Business" provides a fascinating history of pharmaceuticals and biotechnology. -- The Wall Street Journal, January 3, 2007

How could an industry invented and staffed by brilliant, capable people have such a dismal long-term financial record? And why do investors keeping throwing money into the ring? --The Boston Globe, May 6, 2007

Product Description

Why has the biotechnology industry failed to perform up to expectations—despite all its promise? In Science Business, Gary P. Pisano answers this question by providing an incisive critique of the industry. Pisano not only reveals the underlying causes of biotech’s problems; he offers the most sophisticated analysis yet on how the industry works. And he provides clear prescriptions for companies, investors, and policymakers seeking ways to improve the industry’s performance.

According to Pisano, the biotech industry’s problems stem from its special character as a science-based business. This character poses three unique business challenges: 1) how to finance highly risky investments under profound uncertainty and long time horizons for R&D, 2) how to learn rapidly enough to keep pace with advances in drug science knowledge, and 3) how to integrate capabilities across a broad spectrum of scientific and technological knowledge bases.

The key to fixing the industry? Business models, organizational structures, and financing arrangements that place greater emphasis on integration and long-term learning over shorter-term "monetization" of intellectual property. Pisano maintains that all industry players—biotech firms, investors, universities, pharmaceutical companies, government regulators—can play a role in righting the industry. The payoff? Valuable improvements in health care, and a shinier future for human well-being.

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Product Details

More About the Author

Gary P. Pisano
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Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
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Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
public equity investors, new biotech firms, established pharmaceutical companies, human clinical testing, public equity markets, new firm formation, scientific landscape, therapeutic markets, biotechnology sector, biotech sector, biotechnology firms, translational research, big pharmaceutical companies, persistent uncertainty, recombinant insulin
Key Phrases - Capitalized Phrases (CAPs): (learn more)
Eli Lilly, United States, Human Genome Project, Wall Street, Nobel Prize, Thomson Financial, Human Genome Sciences, University of California
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Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
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Customer Reviews

10 Reviews
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Average Customer Review
3.8 out of 5 stars (10 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

 
28 of 31 people found the following review helpful:
5.0 out of 5 stars Seriously just fun to read, December 8, 2006
By Elliot Kleiman "technophilic" (San Diego, CA United States) - See all my reviews
(REAL NAME)   
Really just a wonderful introspective into the realm of the biotechnology sector. The writing style is excellent, entertaining, and very analytical. He does a fantastic job of illustrating the scientific challenges that make biotech unique. My favorite chapter in the first section (Section I) entitled, "The Science of the Business" was chapter 4, "Drug R&D and the Organizational Challenges". Here, he explains quite remarkably the differences between Drug R&D and other high tech industries, which he breaks down into the terms of "modularity" and "integrality"; just fantastic!

The second section (Section II) discusses, "The Business of the Science" which is equally interesting. In this section my favorite chapter was chapter 6, "The Performance of the Biotech Industry: Promise Versus Reality". Here he explores the financial and operational issues pertaining to the sector. I think manager/mba-types will like this second section. What I can say is that I learned quite a bit from this second section including info on raising capital (e.g. IPO, Partnering, licensing, etc.), and much about "the monetization of Intellectual Property".

Overall, I must say this is - IMHO - an unbiased expose on the biotech sector. In order to truly understand its history, its unique challenges, one should strongly consider this book b/c it hinges upon a number of terrific concepts that need to be discussed and illustrated for the unaware. The author assumes the reader knows nothing, so pretty much anyone with a penchant for biotech will enjoy. I learned a lot from this book and it was fun too. Five star rating all the way!
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6 of 6 people found the following review helpful:
5.0 out of 5 stars Extrememly lucid, well thought out analysis, May 17, 2007
By Jeff "Jeff" (Northern California) - See all my reviews
  
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For my money, most business school professors write with a detached, dry atmosphere about business topics.

Not Gary Pisano!

He has a strong point of view that the ecosystem for biotech is not working well. His observations about why are right to the point and convincing.

His prescriptions are well worth considering.

If you're new to biotech, this is a great book to start out with. I would then proceed to Building Biotechnology, which is also a fine book.
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3 of 3 people found the following review helpful:
5.0 out of 5 stars A solid introduction to Biotech from a business perspective, July 26, 2007
By Mike Sweeny (California) - See all my reviews
I found this book to be well-researched, current, and insightful. If you're at all interested in the biotech business, especially in starting a company or investing, read this book first. Pisano's narrative really helps one understand the foundations of the biotech industry, and sheds some light on what does, and doesn't, work within that industry. The fact that it's off the Harvard Business School Press gives it additional credibility, which is well deserved. A wealth of references, as well as a listing of the companies listed in the study, give the reader both a sense of the research that went into the book and a start on the search for more resources on the subject.
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Most Recent Customer Reviews

1.0 out of 5 stars Science Business
I haven't got this product.
I've also sent an email to the seller, but s/he haven't response it yet.
I would like to refund it.
Published 12 months ago by S. Hwang

2.0 out of 5 stars stale and insular
This book begins with the insight that good science is different from good business. Beyond this, I found the rest of the book kind of stale. Read more
Published 12 months ago by kerrjac

1.0 out of 5 stars Not what I expected
I don't know what I expected from this book, except for some new insights on how to invest in the biotech industry. Read more
Published on May 1, 2007 by Seth Maier

5.0 out of 5 stars Science Business: the promise, the reality and the Future of Biotech
While many of us in the biotech industry are aware of products, companies and issues, this invaluable book is not only a great resource but an important guide and should be... Read more
Published on March 15, 2007 by Theo L. Wagner

4.0 out of 5 stars Important background
This book is an excellent example of applied academic research. Pisano and his Harvard team have dug deep into the economics of biotech. Read more
Published on March 12, 2007 by P. Shanks

5.0 out of 5 stars A Promising Industry that is Still Promising
The biotech 'industry' came about when it began to appear that new techniques and new technologies had been developed that promised to revolutionize the development and... Read more
Published on February 11, 2007 by John Matlock

5.0 out of 5 stars Must have it.
SCIENCE BUSINESS: THE PROMISE, THE REALITY, AND THE FUTURE OF BIOTECH tells why the biotech industry is falling short of its bright promises; in the process analyzing how the... Read more
Published on February 5, 2007 by Midwest Book Review

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