Big Pharma is cutting back on internal R&D, many biotech venture capital firms that once financed innovation are going extinct, and federal research budgets are under perennial attack. It’s all enough to make a guy wonder, where are all the great new drugs going to come from in the next decade if there’s so much cutting going on?
Fortunately, there are a quite a few people in the biotech industry thinking hard about this question, experimenting with new business models that are attempting to reduce the time, money, and risk that goes into creating new healthcare products. So we talked about some of the various ideas percolating around the industry earlier this week at Xconomy San Francisco’s big event, “Reinventing Biotech’s Business Model.”
Thanks to all the speakers and attendees who brought so much creative energy to this event. And a special thanks goes out to Onyx Pharmaceuticals, which was a tremendous host. I hitched a ride there, but I heard that Onyx even had people helping direct guests to where the parking spots were in an otherwise pretty packed lot at their fast-growing company. Nice.
Thanks also to my Xconomy colleague Wade Roush, who snapped a bunch of photos while I was gabbing away. Enjoy the photos, and come join us at our next gathering.