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Biotech / Medical : VD's Model Portfolio & Discussion Thread
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To: Thomas M. who wrote (4840)5/10/1998 12:34:00 AM
From: Rocketman  Read Replies (1) of 9719
 
I think Richard really covered this well and I'd have to concur. Biotech is becoming in some respects a service to the pharma industry. But, one of the advantages that little companies have is the ability to make a decision in the hallway and execute it that minute. My guess is that never happens in a Big Pharma where any significant action would have to be formally presented, which requires lots of prep and scheduling to get everyone there at the same time, management has to be sold on it, it would have to be reviewed and approved and scheduled and put into a budget and gee, maybe next year they'd get around to it. At INCY, it was quite common for some pretty damn major decisions to be made by snagging Roy Whitfield in the hall or by walking in his office where the door was always open, he'd snag Randy Scott and whoever else should be there, it was discussed and decided upon, quite often in a 30 second to 5 minute time frame. In 4 1/2 years there, I never did a formal presentation of an idea, it was always done off the cuff. Now as INCY has grown quite a bit, I would suspect that some of this flexibility has diminished, but the level of bureaucracy at INCY I doubt will ever rival that of Pharmas. Pharmas cannot move this fast. They are huge collections of fiefdoms and there is always some VP or director of something or other throwing a wrench in the gears of inovation.

Rman
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