Transcription of NRDOs: theory meets practice - MWB Consulting
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NRDOs: theory meets practice - MWB Consulting
40 April 2005 NRDOs: theorymeets practiceThe rise of no research, development only firms hasbeen accompanied by accusations that they are new in name only. But the NRDO that stays faithful to the business model offers a vision of a more efficient clinicaldevelopment future, believes Dr Michael BowdenOf the many hundreds of biotechnologycompanies out there, it is estimatedthat less than 20 have a stand-alonefuture. Discovery-based small biotechs have,with few exceptions, become synonymouswith the consumption of cash rather than thegeneration of profits. These companies facethe full risks inherent in bringing newpharmaceutical products to the market. And,stung by the downside of the genomics-driven bubble leading up to the end of the lastmillennium, investors have become muchmore savvy with their investments and moredemanding, wanting more profits, and a result, no research, development only (NRDO) companies have becomeincreasingly attractive to firmsoffer to de-risk investment by participating inthe latter parts of the value chain.
40 April 2005 • www.scripmag.com NRDOs: theory meets practice The rise of ‘no research, development only’ firms has been accompanied by accusations that they are new in name only.
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