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Biotech / Medical : Biotech Valuation

CRSP 56.68

-2.4%

Dec 12 9:30 AM EST

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To: Biomaven who wrote (2202)	12/2/2000 1:05:12 AM
From: keokalani'nui	of 52153

>>GlaxoSmithKline will take the idea one stage further by designating each site, to be called centres for excellence in drug discovery, as competing profit centres. They will buy and sell services from the central organisation.<< I have some insight into this type of situation. If it were not a tired, discredited idea it would be funny. I give it 18 months. What an enormous incongruity in and of itself...R&D a profit center? How can and how likely are you to measure competition/success between scientific groups in shorter than a 10 year operating cycle? And, well, buying and selling from yourself is both prohibited by accounting principles and contrary to operating efficiency. Whoa, I really trashed that. Let me step back. I'm sure they know more than me. I'm sure they have consultants involved, good ones you know who have studied lots of manufacturing and marketing companies before advising pharmas. What is the definition of a consultant anyway? (Sorry if this is less than fresh.) A guy who takes your watch and tells you what time it is. >>But then again there's the data point I have from a friend at a fairly recent IPO that's been selling services to both pharmas and biotechs. His view: "Good luck trying to get a phone call returned from a pharma after lunch on a Friday..."<< Ahh, one simple observation illuminates so much. --Wilder

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