BioCentury
ARTICLE | Strategy

Back to School 2002: The sweet spot

September 3, 2002 7:00 AM UTC

Enough of gloom and doom. This year's Back to School issue leaves aside all thoughts of the stock market and instead focuses on what in the end is really important: strategies for building very small biotech companies into very large biotech companies.

As the rebasing of big pharma continues, it becomes more and more apparent that exceptional growth in the drug industry is less and less likely to come from the top. At the same time, the market cap space between $5 billion and $50 billion is virtually empty save for a handful of weakened pharma names, leaving a vacuum for growth investors that upwardly mobile biotech companies could fill. The latter could provide more realistic growth opportunities, with smaller products than would be required of big pharma (see "Looking for Growth," A2). ...