Europe’s bellwether challenge
Why Europe may have what it takes to grow a new generation of bellwethers
A healthy biotech ecosystem comprises a continuum from big pharma and bellwether biotechs at the top to private newcos at the bottom, with a mixture of liquidity events -- predominantly M&A -- to reward investors. Now that undisputed bellwether Actelion Ltd. has been removed, the question is whether the region has what it takes to grow new ones.
Attaining bellwether status certainly cannot be every company’s goal, nor should any other outcome be viewed as a bad one. But bellwether biotechs play a crucial role in attracting capital, influencing policy, achieving scientific and technological excellence, and providing a source of inspiration and experienced leaders to go forth and found new companies...
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