BIO 2009: Despite Bleak Economy, Optimism Still Flows
Attendance is down at this year’s international BIO conference and many of the clinical stage attendees are in a frantic race against their respective burn rates, but this event once again distinguishes itself as a forum where many of the industry’s best and brightest convene to be passionate about their science and its life changing potential, despite the formidable odds faced by so many. And while Big Pharma stalks the aisles and presentations looking for the next hidden gem that will restore luster to their aging portfolios, it is, once again, the little guys who really shine as the sources of innovation.
What has changed are the business models and pipeline strategies. They are far more practical in outlook and expectations than ever before. Projects of real scientific merit but commercially less within reach are being shelved in favor of more focused business strategies. With sharper focus on fewer projects, but ones with nearer term potential, these companies are operating with far more operating savvy that will help them weather the storm.
Big Pharma would be wise not to approach this as a buyer’s market. Even a biotech on the brink of running out of cash may have the cure that ails their portfolio. This is a more sober, more realistic partner match making environment where it is advisable to tread carefully.
Tags: #BIO09, biotech PR
Posted by Jim Weinrebe on May 19, 2009 at 11:30 PM
