Science Business: The Promise, the Reality, and the Future of Biotech | 
 enlarge | Author: Gary P. Pisano
Publisher: Harvard Business School Press
Category: Book
List Price: $29.95
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Avg. Customer Rating:  8 reviews
Sales Rank: 11421
Media: Hardcover
Edition: 1
Number Of Items: 1
Pages: 237
Shipping Weight (lbs): 1.5
Dimensions (in): 9.3 x 6.1 x 1
ISBN: 1591398401
Dewey Decimal Number: 338.476606
EAN: 9781591398400
ASIN: 1591398401
Publication Date: November 14, 2006
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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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| Customer Reviews: Read 3 more reviews...
 A solid introduction to Biotech from a business perspective July 26, 2007
1 out of 1 found this review helpful
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.
Extrememly lucid, well thought out analysis May 17, 2007
3 out of 3 found this review helpful
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.
 Not what I expected May 2, 2007
1 out of 14 found this review helpful
I don't know what I expected from this book, except for some new insights on how to invest in the biotech industry. I was extremely disappointed to find a whiney critique of biotech companies that take enormous risks in discovering new life-saving or life-improving chemicals, and oftentimes crash and burn in the process. Well, that's capitalism, for ya'! Would the author prefer a centrally run system in which lazy bureaucrats barely advance scientific discovery? It all comes back to risk and reward. This book is the updated version of complaints about Silicon Valley, and the dot-com bust. OK, the technology business may not be profitable as a whole, but the efforts of millions of people in the pursuit of the big payoff has created great advances and has improved lives in making people more efficient, more educated, and less carbon-intensive.
Science Business: the promise, the reality and the Future of Biotech March 15, 2007
4 out of 4 found this review helpful
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 recommended reading for all biotech industry executives as well as investors.
 Important background March 12, 2007
2 out of 2 found this review helpful
This book is an excellent example of applied academic research. Pisano and his Harvard team have dug deep into the economics of biotech. What he describes is an industry that is not performing as expected, and he points to some possible reasons for this. Perhaps my favorite single sentence in the book is, "Deals alone can never create value." A more speculative statement from the same paragraph is: "As a percentage of the total workforce, biotech may have more people involved in business development than any other industry (almost certainly the highest per dollar of revenue)." Why? Well, that should be the subject of another book.
Highly recommended to those digging into biotech issues; not at all for those who want a quick-fix-read to tell them what to think. That's a compliment, but does point up that the audience for this is limited.
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