What do you think?
Rate this book
Language Choice in a Nation Under Transition
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 policy makers 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 how to finance highly risky investments under profound uncertainty and long time horizons for R&D, how to learn rapidly enough to keep pace with advances in drug science knowledge, and how to integrate capabilities across a broad spectrum of scientific and technological knowledge bases.The key to fixing the industry? Business models, organisational structures, and financing arrangements that place greater emphasis on integration and long-term learning over shorter--term 'monetisation' 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.
Gary P. Pisano
Harvard Business Review Press
11/01/2006
256
Binding Hardcover
1.17lbs
9.48h x 6.44w x 1.04d
9781591398400
Review Citation(s):
Scitech Book News 09/01/2007 pg. 8
About the Author
Gary P. Pisano is the Harry E. Figgle Jr. Professor of Business Administration and Head of the Technology and Operations Management unit at Harvard Business Scho
Gary P. Pisano
Harvard Business Review Press
11/01/2006
256
Binding Hardcover
1.17lbs
9.48h x 6.44w x 1.04d
9781591398400
Review Citation(s):
Scitech Book News 09/01/2007 pg. 8
About the Author
Gary P. Pisano is the Harry E. Figgle Jr. Professor of Business Administration and Head of the Technology and Operations Management unit at Harvard Business Scho
Hardcover
First published November 1, 2006
14 people are currently reading
759 people want to read
About the author
Unknown
506k books3,213 followersBooks can be attributed to "Unknown" when the author or editor (as applicable) is not known and cannot be discovered. If at all possible, list at least one actual author or editor for a book instead of using "Unknown".
Books whose authorship is purposefully withheld should be attributed instead to Anonymous.
Books whose authorship is purposefully withheld should be attributed instead to Anonymous.
Ratings & Reviews
Friends & Following
Create a free account to discover what your friends think of this book!
Community Reviews
Displaying 1 - 7 of 7 reviews
August 27, 2012
"The thesis of this book is that the disappointing performance of the biotechnology sector reflects a fundamental and deep struggle between the conflicting objectives and requirements of the science of biotechnology and the business of biotechnology. ... For example, science holds methodology sacred; business focuses on results. Science values openness and sharing (with attribution); business generally demands secrecy and propriety. Science demands validity (Is this idea/finding valid? Does it stand up to scrutiny?); business demands utility (Is it useful?). Both areas can be fiercely competitive, but they compete for different currency." (6)
"While adding new tools to the kit has clear potential benefits, it also creates organizational challenges. The complementary nature of the tools suggests that an approach that integrates approaches would be highly fruitful. Yet integration is made difficulty but the fact that these divers approaches originate from different disciplines, each with its own logic and languages. And people trained in these different disciplines often attach similar problems very differently." (71-2)
"[W]hile on paper it appears that the market for know-how creates many bridges across the specialized islands of expertise, a closer examination suggests otherwise. This is not software or electronics. The technology is not modular; it is not well codified; and intellectual property concerns often restrict critical information flows. True integration under these circumstances is extremely rare." ((153)
"One of the primary objectives of universities and the funding process in this space should be to reshape the scientific landscape through more integrated, cross-disciplinary research and training. There are already signs that this has begun to occur over the past decade, as universities have launched interdisciplinary institutes -- such as the Broad Institute at Harvard and MIT -- that bring together scientists from biology, chemistry, mathematics, computer science, physics, engineering, and medicine. The second way universities influence integration is through their strategies and behaviors associated with new firm formation. ... And here again, we need to be suspect of exclusive arrangements that move IP into the hands of a single entity." (189)
"While adding new tools to the kit has clear potential benefits, it also creates organizational challenges. The complementary nature of the tools suggests that an approach that integrates approaches would be highly fruitful. Yet integration is made difficulty but the fact that these divers approaches originate from different disciplines, each with its own logic and languages. And people trained in these different disciplines often attach similar problems very differently." (71-2)
"[W]hile on paper it appears that the market for know-how creates many bridges across the specialized islands of expertise, a closer examination suggests otherwise. This is not software or electronics. The technology is not modular; it is not well codified; and intellectual property concerns often restrict critical information flows. True integration under these circumstances is extremely rare." ((153)
"One of the primary objectives of universities and the funding process in this space should be to reshape the scientific landscape through more integrated, cross-disciplinary research and training. There are already signs that this has begun to occur over the past decade, as universities have launched interdisciplinary institutes -- such as the Broad Institute at Harvard and MIT -- that bring together scientists from biology, chemistry, mathematics, computer science, physics, engineering, and medicine. The second way universities influence integration is through their strategies and behaviors associated with new firm formation. ... And here again, we need to be suspect of exclusive arrangements that move IP into the hands of a single entity." (189)
August 9, 2018
- Clearly written, but slightly repetitive.
- Having read around the topic, expected more insights than gained. Recommended more highly to people new to the field.
- Outdated content, focusing on 1980-2004. Latest data, advances in synthetic biology and related fields, and new concepts and business models (e.g. crowdfunding) not touched upto.
- Integrated examples were very useful and interesting. Wish they were newer companies.
- Role of the entrepreneur not touched upon.
- Interesting to compare the 2004 landscape with that of today...
- Having read around the topic, expected more insights than gained. Recommended more highly to people new to the field.
- Outdated content, focusing on 1980-2004. Latest data, advances in synthetic biology and related fields, and new concepts and business models (e.g. crowdfunding) not touched upto.
- Integrated examples were very useful and interesting. Wish they were newer companies.
- Role of the entrepreneur not touched upon.
- Interesting to compare the 2004 landscape with that of today...
August 8, 2021
I finished around 60% of the book on understanding challenges specific to biotech companies compared to other industries: huge uncertainty of drug discovery (impossible to modularise), low success rate, and huge costs on R&D. Might come back in the future for the author' perspective on solutions.
December 9, 2024
Since starting grad school, I’ve been trying to learn the basics of biotechnology which feels a lot like stumbling in the dark and googling terms between informational interviews. If only I’d known about this book sooner!
Pisano goes through 1) how biotechnology developed from 1970s-2000s, 2) the industry differs from other established businesses, and 3) how biotechnology as a business needs to change to become profitable.
He touches on the breakthrough biotech firms like Genentech and Amgen, both of which have their own books and I’ve covered on here before, whereas this is a great basic overview and to be honest I wish I’d started with this book before reading the other two!
Pisano goes through 1) how biotechnology developed from 1970s-2000s, 2) the industry differs from other established businesses, and 3) how biotechnology as a business needs to change to become profitable.
He touches on the breakthrough biotech firms like Genentech and Amgen, both of which have their own books and I’ve covered on here before, whereas this is a great basic overview and to be honest I wish I’d started with this book before reading the other two!
May 12, 2011
Why haven't there been better outcomes from biotech? It's a vexing question, well covered in this book. This book is crucial for anyone who wants a better understanding of the slow pace of medical innovation.
March 6, 2011
Despite it being a bit dated in an ever changing industry, probably one of the books that made me want to do what I do.
December 7, 2018
Very informational book. Easy to follow; a true history of biotech industry and which seemingly is somewhat controversial as an industry. An industry that is hugely capital intensive and dear to investor, however, yet provide profit. The author argues, it is a young industry and still in phase of maturity. However, a lot of money is being put into it. Author mentions the phases of drug development, from formula to the market. I was truly enlightened!
Displaying 1 - 7 of 7 reviews