Pharmaceutical firms and the transition to biotechnology: A study in strategic innovation

Business History Review

Volumn 72, Issue 2, 1998, Pages 250-278

  Galambos, Louis ^a   Sturchio, Jeffrey L ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0032333164     PISSN: 00076805     EISSN: None     Source Type: Journal    
DOI: 10.2307/3116278     Document Type: Article

References (162)

1. See Michael J. Piore and Charles F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984); Thomas K. McCraw, ed., America versus Japan (Boston, 1986); Richard S. Tedlow, New and Improved: The Story of Mass Marketing in America (New York, 1990); Joseph Morone, Winning in High-Tech Markets: The Role of General Management (Boston, 1993); William Lazonick, Competitive Advantage on the Shop Floor (Cambridge, Mass., 1990); Richard R. Nelson, ed., National Innovation Systems: A Comparative Analysis (New York, 1993); Amy Glasmeier, "Technological Discontinuities and Flexible Production Networks: The Case of Switzerland and the World Watch Industry," Research Policy 20 (Oct. 1991): 469-85; Margaret B. W. Graham, RCA and the VideoDisc: The Business of Research (New York, 1986); Richard S. Rosenbloom and Michael A. Cusumano, "Technological Pioneering and Competitive Advantage: The Birth of the VCR Industry," California Management Review 29 (Summer 1987): 51-76; Richard S. Rosenbloom, Donald N. Sull, and Richard S. Tedlow, "Managerial Commitments and Technological Change in the US Tire Industry," Harvard Business School Working Paper (1997); Rebecca Henderson and Kim B. Clark, "Architectural Innovation: The Reconfiguration of Existing Product Technologies and the Failure of Established Firms," Administrative Science Quarterly 35 (1990): 9-30; Rebecca Henderson, "Underinvestment and Incompetence as Responses to Radical Innovation: Evidence from the Photolithographic Alignment Equipment Industry," Rand Journal of Economics 24 (Summer 1993): 248-70; David Teece and Gary Pisano, "The Dynamic Capabilities of Firms: An Introduction," Industrial and Corporate Change 3:3 (1994): 537-56, this entire issue of the journal deals with organizational capabilities in different contexts. For guides to the economics literature on transitions, see Lynne G. Zucker, Michael R. Darby, and Marilynn B. Brewer, "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306; and Lynne G. Zucker and Michael R. Darby, "Present at the Biotechnological Revolution: Transformation of Technological Identity for a Large Pharmaceutical Firm," Research Policy 26 (1997): 429-46.
2. See Michael J. Piore and Charles F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984); Thomas K. McCraw, ed., America versus Japan (Boston, 1986); Richard S. Tedlow, New and Improved: The Story of Mass Marketing in America (New York, 1990); Joseph Morone, Winning in High-Tech Markets: The Role of General Management (Boston, 1993); William Lazonick, Competitive Advantage on the Shop Floor (Cambridge, Mass., 1990); Richard R. Nelson, ed., National Innovation Systems: A Comparative Analysis (New York, 1993); Amy Glasmeier, "Technological Discontinuities and Flexible Production Networks: The Case of Switzerland and the World Watch Industry," Research Policy 20 (Oct. 1991): 469-85; Margaret B. W. Graham, RCA and the VideoDisc: The Business of Research (New York, 1986); Richard S. Rosenbloom and Michael A. Cusumano, "Technological Pioneering and Competitive Advantage: The Birth of the VCR Industry," California Management Review 29 (Summer 1987): 51-76; Richard S. Rosenbloom, Donald N. Sull, and Richard S. Tedlow, "Managerial Commitments and Technological Change in the US Tire Industry," Harvard Business School Working Paper (1997); Rebecca Henderson and Kim B. Clark, "Architectural Innovation: The Reconfiguration of Existing Product Technologies and the Failure of Established Firms," Administrative Science Quarterly 35 (1990): 9-30; Rebecca Henderson, "Underinvestment and Incompetence as Responses to Radical Innovation: Evidence from the Photolithographic Alignment Equipment Industry," Rand Journal of Economics 24 (Summer 1993): 248-70; David Teece and Gary Pisano, "The Dynamic Capabilities of Firms: An Introduction," Industrial and Corporate Change 3:3 (1994): 537-56, this entire issue of the journal deals with organizational capabilities in different contexts. For guides to the economics literature on transitions, see Lynne G. Zucker, Michael R. Darby, and Marilynn B. Brewer, "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306; and Lynne G. Zucker and Michael R. Darby, "Present at the Biotechnological Revolution: Transformation of Technological Identity for a Large Pharmaceutical Firm," Research Policy 26 (1997): 429-46.
3. See Michael J. Piore and Charles F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984); Thomas K. McCraw, ed., America versus Japan (Boston, 1986); Richard S. Tedlow, New and Improved: The Story of Mass Marketing in America (New York, 1990); Joseph Morone, Winning in High-Tech Markets: The Role of General Management (Boston, 1993); William Lazonick, Competitive Advantage on the Shop Floor (Cambridge, Mass., 1990); Richard R. Nelson, ed., National Innovation Systems: A Comparative Analysis (New York, 1993); Amy Glasmeier, "Technological Discontinuities and Flexible Production Networks: The Case of Switzerland and the World Watch Industry," Research Policy 20 (Oct. 1991): 469-85; Margaret B. W. Graham, RCA and the VideoDisc: The Business of Research (New York, 1986); Richard S. Rosenbloom and Michael A. Cusumano, "Technological Pioneering and Competitive Advantage: The Birth of the VCR Industry," California Management Review 29 (Summer 1987): 51-76; Richard S. Rosenbloom, Donald N. Sull, and Richard S. Tedlow, "Managerial Commitments and Technological Change in the US Tire Industry," Harvard Business School Working Paper (1997); Rebecca Henderson and Kim B. Clark, "Architectural Innovation: The Reconfiguration of Existing Product Technologies and the Failure of Established Firms," Administrative Science Quarterly 35 (1990): 9-30; Rebecca Henderson, "Underinvestment and Incompetence as Responses to Radical Innovation: Evidence from the Photolithographic Alignment Equipment Industry," Rand Journal of Economics 24 (Summer 1993): 248-70; David Teece and Gary Pisano, "The Dynamic Capabilities of Firms: An Introduction," Industrial and Corporate Change 3:3 (1994): 537-56, this entire issue of the journal deals with organizational capabilities in different contexts. For guides to the economics literature on transitions, see Lynne G. Zucker, Michael R. Darby, and Marilynn B. Brewer, "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306; and Lynne G. Zucker and Michael R. Darby, "Present at the Biotechnological Revolution: Transformation of Technological Identity for a Large Pharmaceutical Firm," Research Policy 26 (1997): 429-46.
4. See Michael J. Piore and Charles F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984); Thomas K. McCraw, ed., America versus Japan (Boston, 1986); Richard S. Tedlow, New and Improved: The Story of Mass Marketing in America (New York, 1990); Joseph Morone, Winning in High-Tech Markets: The Role of General Management (Boston, 1993); William Lazonick, Competitive Advantage on the Shop Floor (Cambridge, Mass., 1990); Richard R. Nelson, ed., National Innovation Systems: A Comparative Analysis (New York, 1993); Amy Glasmeier, "Technological Discontinuities and Flexible Production Networks: The Case of Switzerland and the World Watch Industry," Research Policy 20 (Oct. 1991): 469-85; Margaret B. W. Graham, RCA and the VideoDisc: The Business of Research (New York, 1986); Richard S. Rosenbloom and Michael A. Cusumano, "Technological Pioneering and Competitive Advantage: The Birth of the VCR Industry," California Management Review 29 (Summer 1987): 51-76; Richard S. Rosenbloom, Donald N. Sull, and Richard S. Tedlow, "Managerial Commitments and Technological Change in the US Tire Industry," Harvard Business School Working Paper (1997); Rebecca Henderson and Kim B. Clark, "Architectural Innovation: The Reconfiguration of Existing Product Technologies and the Failure of Established Firms," Administrative Science Quarterly 35 (1990): 9-30; Rebecca Henderson, "Underinvestment and Incompetence as Responses to Radical Innovation: Evidence from the Photolithographic Alignment Equipment Industry," Rand Journal of Economics 24 (Summer 1993): 248-70; David Teece and Gary Pisano, "The Dynamic Capabilities of Firms: An Introduction," Industrial and Corporate Change 3:3 (1994): 537-56, this entire issue of the journal deals with organizational capabilities in different contexts. For guides to the economics literature on transitions, see Lynne G. Zucker, Michael R. Darby, and Marilynn B. Brewer, "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306; and Lynne G. Zucker and Michael R. Darby, "Present at the Biotechnological Revolution: Transformation of Technological Identity for a Large Pharmaceutical Firm," Research Policy 26 (1997): 429-46.
5. See Michael J. Piore and Charles F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984); Thomas K. McCraw, ed., America versus Japan (Boston, 1986); Richard S. Tedlow, New and Improved: The Story of Mass Marketing in America (New York, 1990); Joseph Morone, Winning in High-Tech Markets: The Role of General Management (Boston, 1993); William Lazonick, Competitive Advantage on the Shop Floor (Cambridge, Mass., 1990); Richard R. Nelson, ed., National Innovation Systems: A Comparative Analysis (New York, 1993); Amy Glasmeier, "Technological Discontinuities and Flexible Production Networks: The Case of Switzerland and the World Watch Industry," Research Policy 20 (Oct. 1991): 469-85; Margaret B. W. Graham, RCA and the VideoDisc: The Business of Research (New York, 1986); Richard S. Rosenbloom and Michael A. Cusumano, "Technological Pioneering and Competitive Advantage: The Birth of the VCR Industry," California Management Review 29 (Summer 1987): 51-76; Richard S. Rosenbloom, Donald N. Sull, and Richard S. Tedlow, "Managerial Commitments and Technological Change in the US Tire Industry," Harvard Business School Working Paper (1997); Rebecca Henderson and Kim B. Clark, "Architectural Innovation: The Reconfiguration of Existing Product Technologies and the Failure of Established Firms," Administrative Science Quarterly 35 (1990): 9-30; Rebecca Henderson, "Underinvestment and Incompetence as Responses to Radical Innovation: Evidence from the Photolithographic Alignment Equipment Industry," Rand Journal of Economics 24 (Summer 1993): 248-70; David Teece and Gary Pisano, "The Dynamic Capabilities of Firms: An Introduction," Industrial and Corporate Change 3:3 (1994): 537-56, this entire issue of the journal deals with organizational capabilities in different contexts. For guides to the economics literature on transitions, see Lynne G. Zucker, Michael R. Darby, and Marilynn B. Brewer, "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306; and Lynne G. Zucker and Michael R. Darby, "Present at the Biotechnological Revolution: Transformation of Technological Identity for a Large Pharmaceutical Firm," Research Policy 26 (1997): 429-46.
6. See Michael J. Piore and Charles F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984); Thomas K. McCraw, ed., America versus Japan (Boston, 1986); Richard S. Tedlow, New and Improved: The Story of Mass Marketing in America (New York, 1990); Joseph Morone, Winning in High-Tech Markets: The Role of General Management (Boston, 1993); William Lazonick, Competitive Advantage on the Shop Floor (Cambridge, Mass., 1990); Richard R. Nelson, ed., National Innovation Systems: A Comparative Analysis (New York, 1993); Amy Glasmeier, "Technological Discontinuities and Flexible Production Networks: The Case of Switzerland and the World Watch Industry," Research Policy 20 (Oct. 1991): 469-85; Margaret B. W. Graham, RCA and the VideoDisc: The Business of Research (New York, 1986); Richard S. Rosenbloom and Michael A. Cusumano, "Technological Pioneering and Competitive Advantage: The Birth of the VCR Industry," California Management Review 29 (Summer 1987): 51-76; Richard S. Rosenbloom, Donald N. Sull, and Richard S. Tedlow, "Managerial Commitments and Technological Change in the US Tire Industry," Harvard Business School Working Paper (1997); Rebecca Henderson and Kim B. Clark, "Architectural Innovation: The Reconfiguration of Existing Product Technologies and the Failure of Established Firms," Administrative Science Quarterly 35 (1990): 9-30; Rebecca Henderson, "Underinvestment and Incompetence as Responses to Radical Innovation: Evidence from the Photolithographic Alignment Equipment Industry," Rand Journal of Economics 24 (Summer 1993): 248-70; David Teece and Gary Pisano, "The Dynamic Capabilities of Firms: An Introduction," Industrial and Corporate Change 3:3 (1994): 537-56, this entire issue of the journal deals with organizational capabilities in different contexts. For guides to the economics literature on transitions, see Lynne G. Zucker, Michael R. Darby, and Marilynn B. Brewer, "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306; and Lynne G. Zucker and Michael R. Darby, "Present at the Biotechnological Revolution: Transformation of Technological Identity for a Large Pharmaceutical Firm," Research Policy 26 (1997): 429-46.
7. See Michael J. Piore and Charles F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984); Thomas K. McCraw, ed., America versus Japan (Boston, 1986); Richard S. Tedlow, New and Improved: The Story of Mass Marketing in America (New York, 1990); Joseph Morone, Winning in High-Tech Markets: The Role of General Management (Boston, 1993); William Lazonick, Competitive Advantage on the Shop Floor (Cambridge, Mass., 1990); Richard R. Nelson, ed., National Innovation Systems: A Comparative Analysis (New York, 1993); Amy Glasmeier, "Technological Discontinuities and Flexible Production Networks: The Case of Switzerland and the World Watch Industry," Research Policy 20 (Oct. 1991): 469-85; Margaret B. W. Graham, RCA and the VideoDisc: The Business of Research (New York, 1986); Richard S. Rosenbloom and Michael A. Cusumano, "Technological Pioneering and Competitive Advantage: The Birth of the VCR Industry," California Management Review 29 (Summer 1987): 51-76; Richard S. Rosenbloom, Donald N. Sull, and Richard S. Tedlow, "Managerial Commitments and Technological Change in the US Tire Industry," Harvard Business School Working Paper (1997); Rebecca Henderson and Kim B. Clark, "Architectural Innovation: The Reconfiguration of Existing Product Technologies and the Failure of Established Firms," Administrative Science Quarterly 35 (1990): 9-30; Rebecca Henderson, "Underinvestment and Incompetence as Responses to Radical Innovation: Evidence from the Photolithographic Alignment Equipment Industry," Rand Journal of Economics 24 (Summer 1993): 248-70; David Teece and Gary Pisano, "The Dynamic Capabilities of Firms: An Introduction," Industrial and Corporate Change 3:3 (1994): 537-56, this entire issue of the journal deals with organizational capabilities in different contexts. For guides to the economics literature on transitions, see Lynne G. Zucker, Michael R. Darby, and Marilynn B. Brewer, "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306; and Lynne G. Zucker and Michael R. Darby, "Present at the Biotechnological Revolution: Transformation of Technological Identity for a Large Pharmaceutical Firm," Research Policy 26 (1997): 429-46.
8. See Michael J. Piore and Charles F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984); Thomas K. McCraw, ed., America versus Japan (Boston, 1986); Richard S. Tedlow, New and Improved: The Story of Mass Marketing in America (New York, 1990); Joseph Morone, Winning in High-Tech Markets: The Role of General Management (Boston, 1993); William Lazonick, Competitive Advantage on the Shop Floor (Cambridge, Mass., 1990); Richard R. Nelson, ed., National Innovation Systems: A Comparative Analysis (New York, 1993); Amy Glasmeier, "Technological Discontinuities and Flexible Production Networks: The Case of Switzerland and the World Watch Industry," Research Policy 20 (Oct. 1991): 469-85; Margaret B. W. Graham, RCA and the VideoDisc: The Business of Research (New York, 1986); Richard S. Rosenbloom and Michael A. Cusumano, "Technological Pioneering and Competitive Advantage: The Birth of the VCR Industry," California Management Review 29 (Summer 1987): 51-76; Richard S. Rosenbloom, Donald N. Sull, and Richard S. Tedlow, "Managerial Commitments and Technological Change in the US Tire Industry," Harvard Business School Working Paper (1997); Rebecca Henderson and Kim B. Clark, "Architectural Innovation: The Reconfiguration of Existing Product Technologies and the Failure of Established Firms," Administrative Science Quarterly 35 (1990): 9-30; Rebecca Henderson, "Underinvestment and Incompetence as Responses to Radical Innovation: Evidence from the Photolithographic Alignment Equipment Industry," Rand Journal of Economics 24 (Summer 1993): 248-70; David Teece and Gary Pisano, "The Dynamic Capabilities of Firms: An Introduction," Industrial and Corporate Change 3:3 (1994): 537-56, this entire issue of the journal deals with organizational capabilities in different contexts. For guides to the economics literature on transitions, see Lynne G. Zucker, Michael R. Darby, and Marilynn B. Brewer, "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306; and Lynne G. Zucker and Michael R. Darby, "Present at the Biotechnological Revolution: Transformation of Technological Identity for a Large Pharmaceutical Firm," Research Policy 26 (1997): 429-46.
9. See Michael J. Piore and Charles F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984); Thomas K. McCraw, ed., America versus Japan (Boston, 1986); Richard S. Tedlow, New and Improved: The Story of Mass Marketing in America (New York, 1990); Joseph Morone, Winning in High-Tech Markets: The Role of General Management (Boston, 1993); William Lazonick, Competitive Advantage on the Shop Floor (Cambridge, Mass., 1990); Richard R. Nelson, ed., National Innovation Systems: A Comparative Analysis (New York, 1993); Amy Glasmeier, "Technological Discontinuities and Flexible Production Networks: The Case of Switzerland and the World Watch Industry," Research Policy 20 (Oct. 1991): 469-85; Margaret B. W. Graham, RCA and the VideoDisc: The Business of Research (New York, 1986); Richard S. Rosenbloom and Michael A. Cusumano, "Technological Pioneering and Competitive Advantage: The Birth of the VCR Industry," California Management Review 29 (Summer 1987): 51-76; Richard S. Rosenbloom, Donald N. Sull, and Richard S. Tedlow, "Managerial Commitments and Technological Change in the US Tire Industry," Harvard Business School Working Paper (1997); Rebecca Henderson and Kim B. Clark, "Architectural Innovation: The Reconfiguration of Existing Product Technologies and the Failure of Established Firms," Administrative Science Quarterly 35 (1990): 9-30; Rebecca Henderson, "Underinvestment and Incompetence as Responses to Radical Innovation: Evidence from the Photolithographic Alignment Equipment Industry," Rand Journal of Economics 24 (Summer 1993): 248-70; David Teece and Gary Pisano, "The Dynamic Capabilities of Firms: An Introduction," Industrial and Corporate Change 3:3 (1994): 537-56, this entire issue of the journal deals with organizational capabilities in different contexts. For guides to the economics literature on transitions, see Lynne G. Zucker, Michael R. Darby, and Marilynn B. Brewer, "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306; and Lynne G. Zucker and Michael R. Darby, "Present at the Biotechnological Revolution: Transformation of Technological Identity for a Large Pharmaceutical Firm," Research Policy 26 (1997): 429-46.
10. See Michael J. Piore and Charles F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984); Thomas K. McCraw, ed., America versus Japan (Boston, 1986); Richard S. Tedlow, New and Improved: The Story of Mass Marketing in America (New York, 1990); Joseph Morone, Winning in High-Tech Markets: The Role of General Management (Boston, 1993); William Lazonick, Competitive Advantage on the Shop Floor (Cambridge, Mass., 1990); Richard R. Nelson, ed., National Innovation Systems: A Comparative Analysis (New York, 1993); Amy Glasmeier, "Technological Discontinuities and Flexible Production Networks: The Case of Switzerland and the World Watch Industry," Research Policy 20 (Oct. 1991): 469-85; Margaret B. W. Graham, RCA and the VideoDisc: The Business of Research (New York, 1986); Richard S. Rosenbloom and Michael A. Cusumano, "Technological Pioneering and Competitive Advantage: The Birth of the VCR Industry," California Management Review 29 (Summer 1987): 51-76; Richard S. Rosenbloom, Donald N. Sull, and Richard S. Tedlow, "Managerial Commitments and Technological Change in the US Tire Industry," Harvard Business School Working Paper (1997); Rebecca Henderson and Kim B. Clark, "Architectural Innovation: The Reconfiguration of Existing Product Technologies and the Failure of Established Firms," Administrative Science Quarterly 35 (1990): 9-30; Rebecca Henderson, "Underinvestment and Incompetence as Responses to Radical Innovation: Evidence from the Photolithographic Alignment Equipment Industry," Rand Journal of Economics 24 (Summer 1993): 248-70; David Teece and Gary Pisano, "The Dynamic Capabilities of Firms: An Introduction," Industrial and Corporate Change 3:3 (1994): 537-56, this entire issue of the journal deals with organizational capabilities in different contexts. For guides to the economics literature on transitions, see Lynne G. Zucker, Michael R. Darby, and Marilynn B. Brewer, "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306; and Lynne G. Zucker and Michael R. Darby, "Present at the Biotechnological Revolution: Transformation of Technological Identity for a Large Pharmaceutical Firm," Research Policy 26 (1997): 429-46.
11. See Michael J. Piore and Charles F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984); Thomas K. McCraw, ed., America versus Japan (Boston, 1986); Richard S. Tedlow, New and Improved: The Story of Mass Marketing in America (New York, 1990); Joseph Morone, Winning in High-Tech Markets: The Role of General Management (Boston, 1993); William Lazonick, Competitive Advantage on the Shop Floor (Cambridge, Mass., 1990); Richard R. Nelson, ed., National Innovation Systems: A Comparative Analysis (New York, 1993); Amy Glasmeier, "Technological Discontinuities and Flexible Production Networks: The Case of Switzerland and the World Watch Industry," Research Policy 20 (Oct. 1991): 469-85; Margaret B. W. Graham, RCA and the VideoDisc: The Business of Research (New York, 1986); Richard S. Rosenbloom and Michael A. Cusumano, "Technological Pioneering and Competitive Advantage: The Birth of the VCR Industry," California Management Review 29 (Summer 1987): 51-76; Richard S. Rosenbloom, Donald N. Sull, and Richard S. Tedlow, "Managerial Commitments and Technological Change in the US Tire Industry," Harvard Business School Working Paper (1997); Rebecca Henderson and Kim B. Clark, "Architectural Innovation: The Reconfiguration of Existing Product Technologies and the Failure of Established Firms," Administrative Science Quarterly 35 (1990): 9-30; Rebecca Henderson, "Underinvestment and Incompetence as Responses to Radical Innovation: Evidence from the Photolithographic Alignment Equipment Industry," Rand Journal of Economics 24 (Summer 1993): 248-70; David Teece and Gary Pisano, "The Dynamic Capabilities of Firms: An Introduction," Industrial and Corporate Change 3:3 (1994): 537-56, this entire issue of the journal deals with organizational capabilities in different contexts. For guides to the economics literature on transitions, see Lynne G. Zucker, Michael R. Darby, and Marilynn B. Brewer, "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306; and Lynne G. Zucker and Michael R. Darby, "Present at the Biotechnological Revolution: Transformation of Technological Identity for a Large Pharmaceutical Firm," Research Policy 26 (1997): 429-46.
12. See Michael J. Piore and Charles F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984); Thomas K. McCraw, ed., America versus Japan (Boston, 1986); Richard S. Tedlow, New and Improved: The Story of Mass Marketing in America (New York, 1990); Joseph Morone, Winning in High-Tech Markets: The Role of General Management (Boston, 1993); William Lazonick, Competitive Advantage on the Shop Floor (Cambridge, Mass., 1990); Richard R. Nelson, ed., National Innovation Systems: A Comparative Analysis (New York, 1993); Amy Glasmeier, "Technological Discontinuities and Flexible Production Networks: The Case of Switzerland and the World Watch Industry," Research Policy 20 (Oct. 1991): 469-85; Margaret B. W. Graham, RCA and the VideoDisc: The Business of Research (New York, 1986); Richard S. Rosenbloom and Michael A. Cusumano, "Technological Pioneering and Competitive Advantage: The Birth of the VCR Industry," California Management Review 29 (Summer 1987): 51-76; Richard S. Rosenbloom, Donald N. Sull, and Richard S. Tedlow, "Managerial Commitments and Technological Change in the US Tire Industry," Harvard Business School Working Paper (1997); Rebecca Henderson and Kim B. Clark, "Architectural Innovation: The Reconfiguration of Existing Product Technologies and the Failure of Established Firms," Administrative Science Quarterly 35 (1990): 9-30; Rebecca Henderson, "Underinvestment and Incompetence as Responses to Radical Innovation: Evidence from the Photolithographic Alignment Equipment Industry," Rand Journal of Economics 24 (Summer 1993): 248-70; David Teece and Gary Pisano, "The Dynamic Capabilities of Firms: An Introduction," Industrial and Corporate Change 3:3 (1994): 537-56, this entire issue of the journal deals with organizational capabilities in different contexts. For guides to the economics literature on transitions, see Lynne G. Zucker, Michael R. Darby, and Marilynn B. Brewer, "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306; and Lynne G. Zucker and Michael R. Darby, "Present at the Biotechnological Revolution: Transformation of Technological Identity for a Large Pharmaceutical Firm," Research Policy 26 (1997): 429-46.
13. See Michael J. Piore and Charles F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984); Thomas K. McCraw, ed., America versus Japan (Boston, 1986); Richard S. Tedlow, New and Improved: The Story of Mass Marketing in America (New York, 1990); Joseph Morone, Winning in High-Tech Markets: The Role of General Management (Boston, 1993); William Lazonick, Competitive Advantage on the Shop Floor (Cambridge, Mass., 1990); Richard R. Nelson, ed., National Innovation Systems: A Comparative Analysis (New York, 1993); Amy Glasmeier, "Technological Discontinuities and Flexible Production Networks: The Case of Switzerland and the World Watch Industry," Research Policy 20 (Oct. 1991): 469-85; Margaret B. W. Graham, RCA and the VideoDisc: The Business of Research (New York, 1986); Richard S. Rosenbloom and Michael A. Cusumano, "Technological Pioneering and Competitive Advantage: The Birth of the VCR Industry," California Management Review 29 (Summer 1987): 51-76; Richard S. Rosenbloom, Donald N. Sull, and Richard S. Tedlow, "Managerial Commitments and Technological Change in the US Tire Industry," Harvard Business School Working Paper (1997); Rebecca Henderson and Kim B. Clark, "Architectural Innovation: The Reconfiguration of Existing Product Technologies and the Failure of Established Firms," Administrative Science Quarterly 35 (1990): 9-30; Rebecca Henderson, "Underinvestment and Incompetence as Responses to Radical Innovation: Evidence from the Photolithographic Alignment Equipment Industry," Rand Journal of Economics 24 (Summer 1993): 248-70; David Teece and Gary Pisano, "The Dynamic Capabilities of Firms: An Introduction," Industrial and Corporate Change 3:3 (1994): 537-56, this entire issue of the journal deals with organizational capabilities in different contexts. For guides to the economics literature on transitions, see Lynne G. Zucker, Michael R. Darby, and Marilynn B. Brewer, "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306; and Lynne G. Zucker and Michael R. Darby, "Present at the Biotechnological Revolution: Transformation of Technological Identity for a Large Pharmaceutical Firm," Research Policy 26 (1997): 429-46.
14. See Michael J. Piore and Charles F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984); Thomas K. McCraw, ed., America versus Japan (Boston, 1986); Richard S. Tedlow, New and Improved: The Story of Mass Marketing in America (New York, 1990); Joseph Morone, Winning in High-Tech Markets: The Role of General Management (Boston, 1993); William Lazonick, Competitive Advantage on the Shop Floor (Cambridge, Mass., 1990); Richard R. Nelson, ed., National Innovation Systems: A Comparative Analysis (New York, 1993); Amy Glasmeier, "Technological Discontinuities and Flexible Production Networks: The Case of Switzerland and the World Watch Industry," Research Policy 20 (Oct. 1991): 469-85; Margaret B. W. Graham, RCA and the VideoDisc: The Business of Research (New York, 1986); Richard S. Rosenbloom and Michael A. Cusumano, "Technological Pioneering and Competitive Advantage: The Birth of the VCR Industry," California Management Review 29 (Summer 1987): 51-76; Richard S. Rosenbloom, Donald N. Sull, and Richard S. Tedlow, "Managerial Commitments and Technological Change in the US Tire Industry," Harvard Business School Working Paper (1997); Rebecca Henderson and Kim B. Clark, "Architectural Innovation: The Reconfiguration of Existing Product Technologies and the Failure of Established Firms," Administrative Science Quarterly 35 (1990): 9-30; Rebecca Henderson, "Underinvestment and Incompetence as Responses to Radical Innovation: Evidence from the Photolithographic Alignment Equipment Industry," Rand Journal of Economics 24 (Summer 1993): 248-70; David Teece and Gary Pisano, "The Dynamic Capabilities of Firms: An Introduction," Industrial and Corporate Change 3:3 (1994): 537-56, this entire issue of the journal deals with organizational capabilities in different contexts. For guides to the economics literature on transitions, see Lynne G. Zucker, Michael R. Darby, and Marilynn B. Brewer, "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306; and Lynne G. Zucker and Michael R. Darby, "Present at the Biotechnological Revolution: Transformation of Technological Identity for a Large Pharmaceutical Firm," Research Policy 26 (1997): 429-46.
15. See Michael J. Piore and Charles F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984); Thomas K. McCraw, ed., America versus Japan (Boston, 1986); Richard S. Tedlow, New and Improved: The Story of Mass Marketing in America (New York, 1990); Joseph Morone, Winning in High-Tech Markets: The Role of General Management (Boston, 1993); William Lazonick, Competitive Advantage on the Shop Floor (Cambridge, Mass., 1990); Richard R. Nelson, ed., National Innovation Systems: A Comparative Analysis (New York, 1993); Amy Glasmeier, "Technological Discontinuities and Flexible Production Networks: The Case of Switzerland and the World Watch Industry," Research Policy 20 (Oct. 1991): 469-85; Margaret B. W. Graham, RCA and the VideoDisc: The Business of Research (New York, 1986); Richard S. Rosenbloom and Michael A. Cusumano, "Technological Pioneering and Competitive Advantage: The Birth of the VCR Industry," California Management Review 29 (Summer 1987): 51-76; Richard S. Rosenbloom, Donald N. Sull, and Richard S. Tedlow, "Managerial Commitments and Technological Change in the US Tire Industry," Harvard Business School Working Paper (1997); Rebecca Henderson and Kim B. Clark, "Architectural Innovation: The Reconfiguration of Existing Product Technologies and the Failure of Established Firms," Administrative Science Quarterly 35 (1990): 9-30; Rebecca Henderson, "Underinvestment and Incompetence as Responses to Radical Innovation: Evidence from the Photolithographic Alignment Equipment Industry," Rand Journal of Economics 24 (Summer 1993): 248-70; David Teece and Gary Pisano, "The Dynamic Capabilities of Firms: An Introduction," Industrial and Corporate Change 3:3 (1994): 537-56, this entire issue of the journal deals with organizational capabilities in different contexts. For guides to the economics literature on transitions, see Lynne G. Zucker, Michael R. Darby, and Marilynn B. Brewer, "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306; and Lynne G. Zucker and Michael R. Darby, "Present at the Biotechnological Revolution: Transformation of Technological Identity for a Large Pharmaceutical Firm," Research Policy 26 (1997): 429-46.
16. Sheldon Krimsky, Biotechnics & Society: The Rise of Industrial Genetics (New York, 1991) 1-13, provides a useful set of definitions and a brief historical sketch of the major developments in molecular genetics (in the 1950s and 1960s) that led (in the 1970s and 1980s) to a new form of biotechnology - one that manipulated the genes that govern the internal functions of the cell. See also Horace Freeland Judson, The Eighth Day of Creation: Makers of the Revolution in Biology (New York, 1979). Robert Teitelman, Gene Dreams: Wall Street, Academia, and the Rise of Biotechnology (New York, 1989), esp. 4-10, views the phenomenon from its Wall Street connections. For a longer historical perspective, see Robert Bud, The Uses of Life: A History of Biotechnology (Cambridge, U.K., 1993), which deals with the past century.
17. Sheldon Krimsky, Biotechnics & Society: The Rise of Industrial Genetics (New York, 1991) 1-13, provides a useful set of definitions and a brief historical sketch of the major developments in molecular genetics (in the 1950s and 1960s) that led (in the 1970s and 1980s) to a new form of biotechnology - one that manipulated the genes that govern the internal functions of the cell. See also Horace Freeland Judson, The Eighth Day of Creation: Makers of the Revolution in Biology (New York, 1979). Robert Teitelman, Gene Dreams: Wall Street, Academia, and the Rise of Biotechnology (New York, 1989), esp. 4-10, views the phenomenon from its Wall Street connections. For a longer historical perspective, see Robert Bud, The Uses of Life: A History of Biotechnology (Cambridge, U.K., 1993), which deals with the past century.
18. Sheldon Krimsky, Biotechnics & Society: The Rise of Industrial Genetics (New York, 1991) 1-13, provides a useful set of definitions and a brief historical sketch of the major developments in molecular genetics (in the 1950s and 1960s) that led (in the 1970s and 1980s) to a new form of biotechnology - one that manipulated the genes that govern the internal functions of the cell. See also Horace Freeland Judson, The Eighth Day of Creation: Makers of the Revolution in Biology (New York, 1979). Robert Teitelman, Gene Dreams: Wall Street, Academia, and the Rise of Biotechnology (New York, 1989), esp. 4-10, views the phenomenon from its Wall Street connections. For a longer historical perspective, see Robert Bud, The Uses of Life: A History of Biotechnology (Cambridge, U.K., 1993), which deals with the past century.
19. Sheldon Krimsky, Biotechnics & Society: The Rise of Industrial Genetics (New York, 1991) 1-13, provides a useful set of definitions and a brief historical sketch of the major developments in molecular genetics (in the 1950s and 1960s) that led (in the 1970s and 1980s) to a new form of biotechnology - one that manipulated the genes that govern the internal functions of the cell. See also Horace Freeland Judson, The Eighth Day of Creation: Makers of the Revolution in Biology (New York, 1979). Robert Teitelman, Gene Dreams: Wall Street, Academia, and the Rise of Biotechnology (New York, 1989), esp. 4-10, views the phenomenon from its Wall Street connections. For a longer historical perspective, see Robert Bud, The Uses of Life: A History of Biotechnology (Cambridge, U.K., 1993), which deals with the past century.
20. For an excellent discussion of this latter transition, see Alfonso Gambardella, Science and Innovation: The US Pharmaceutical Industry during the 1980s (Cambridge, U.K., 1995), esp. 23-32. See also Rebecca Henderson, "The Evolution of Integrative Capability: Innovation in Cardiovascular Drug Discovery," Industrial and Corporate Change 3:3 (1994): 607-30.
21. For an excellent discussion of this latter transition, see Alfonso Gambardella, Science and Innovation: The US Pharmaceutical Industry during the 1980s (Cambridge, U.K., 1995), esp. 23-32. See also Rebecca Henderson, "The Evolution of Integrative Capability: Innovation in Cardiovascular Drug Discovery," Industrial and Corporate Change 3:3 (1994): 607-30.
22. Alfred D Chandler, Jr., Scale and Scope: The Dynamics of Industrial Capitalism (Cambridge Mass 1990); Oliver E. Williamson, The Economic Institutions of Capitalism: Firms Markets, Relational Contracting (New York, 1985); for an update on transactions cost analysis, see the same authors "Hierarchies, Markets and Power in the Economy: An Economic Perspective," Industrial and Corporate Change 4:1 (1995); 21-49.
23. Alfred D Chandler, Jr., Scale and Scope: The Dynamics of Industrial Capitalism (Cambridge Mass 1990); Oliver E. Williamson, The Economic Institutions of Capitalism: Firms Markets, Relational Contracting (New York, 1985); for an update on transactions cost analysis, see the same authors "Hierarchies, Markets and Power in the Economy: An Economic Perspective," Industrial and Corporate Change 4:1 (1995); 21-49.
24. Alfred D Chandler, Jr., Scale and Scope: The Dynamics of Industrial Capitalism (Cambridge Mass 1990); Oliver E. Williamson, The Economic Institutions of Capitalism: Firms Markets, Relational Contracting (New York, 1985); for an update on transactions cost analysis, see the same authors "Hierarchies, Markets and Power in the Economy: An Economic Perspective," Industrial and Corporate Change 4:1 (1995); 21-49.
25. These issues are discussed, with various conclusions, in the following sources: Alfonso Gambardella, Science and Innovation, 61-81; Ashish Arora and Alfonso Gambardella "The Changing Technology of Technological Change: General and Abstract Knowledge and the Division of Innovative Labour," Research Policy 23 (1994): 523-32; Gary P. Pisano, Weijian Shan and David J. Teece, "Joint Ventures and Collaboration in the Biotechnology Industry," in International Collaborative Ventures in U.S. Manufacturing, ed. David C. Mowery (Cambridge, Mass., 1988), 183-222. See also Bengt Holmstrom, "Agency Costs and Innovation," Journal of Economic Behavior and Organization 12 (1989): 305-27. For an excellent quantitative map of the trends, see Joseph A. DiMasi, Elaine M. Healy and Louis Lasagna, "Trends in the Introduction of New Drugs by Pharmaceutical Firms" (mss. courtesy of the authors).
26. These issues are discussed, with various conclusions, in the following sources: Alfonso Gambardella, Science and Innovation, 61-81; Ashish Arora and Alfonso Gambardella "The Changing Technology of Technological Change: General and Abstract Knowledge and the Division of Innovative Labour," Research Policy 23 (1994): 523-32; Gary P. Pisano, Weijian Shan and David J. Teece, "Joint Ventures and Collaboration in the Biotechnology Industry," in International Collaborative Ventures in U.S. Manufacturing, ed. David C. Mowery (Cambridge, Mass., 1988), 183-222. See also Bengt Holmstrom, "Agency Costs and Innovation," Journal of Economic Behavior and Organization 12 (1989): 305-27. For an excellent quantitative map of the trends, see Joseph A. DiMasi, Elaine M. Healy and Louis Lasagna, "Trends in the Introduction of New Drugs by Pharmaceutical Firms" (mss. courtesy of the authors).
27. These issues are discussed, with various conclusions, in the following sources: Alfonso Gambardella, Science and Innovation, 61-81; Ashish Arora and Alfonso Gambardella "The Changing Technology of Technological Change: General and Abstract Knowledge and the Division of Innovative Labour," Research Policy 23 (1994): 523-32; Gary P. Pisano, Weijian Shan and David J. Teece, "Joint Ventures and Collaboration in the Biotechnology Industry," in International Collaborative Ventures in U.S. Manufacturing, ed. David C. Mowery (Cambridge, Mass., 1988), 183-222. See also Bengt Holmstrom, "Agency Costs and Innovation," Journal of Economic Behavior and Organization 12 (1989): 305-27. For an excellent quantitative map of the trends, see Joseph A. DiMasi, Elaine M. Healy and Louis Lasagna, "Trends in the Introduction of New Drugs by Pharmaceutical Firms" (mss. courtesy of the authors).
28. These issues are discussed, with various conclusions, in the following sources: Alfonso Gambardella, Science and Innovation, 61-81; Ashish Arora and Alfonso Gambardella "The Changing Technology of Technological Change: General and Abstract Knowledge and the Division of Innovative Labour," Research Policy 23 (1994): 523-32; Gary P. Pisano, Weijian Shan and David J. Teece, "Joint Ventures and Collaboration in the Biotechnology Industry," in International Collaborative Ventures in U.S. Manufacturing, ed. David C. Mowery (Cambridge, Mass., 1988), 183-222. See also Bengt Holmstrom, "Agency Costs and Innovation," Journal of Economic Behavior and Organization 12 (1989): 305-27. For an excellent quantitative map of the trends, see Joseph A. DiMasi, Elaine M. Healy and Louis Lasagna, "Trends in the Introduction of New Drugs by Pharmaceutical Firms" (mss. courtesy of the authors).
29. These issues are discussed, with various conclusions, in the following sources: Alfonso Gambardella, Science and Innovation, 61-81; Ashish Arora and Alfonso Gambardella "The Changing Technology of Technological Change: General and Abstract Knowledge and the Division of Innovative Labour," Research Policy 23 (1994): 523-32; Gary P. Pisano, Weijian Shan and David J. Teece, "Joint Ventures and Collaboration in the Biotechnology Industry," in International Collaborative Ventures in U.S. Manufacturing, ed. David C. Mowery (Cambridge, Mass., 1988), 183-222. See also Bengt Holmstrom, "Agency Costs and Innovation," Journal of Economic Behavior and Organization 12 (1989): 305-27. For an excellent quantitative map of the trends, see Joseph A. DiMasi, Elaine M. Healy and Louis Lasagna, "Trends in the Introduction of New Drugs by Pharmaceutical Firms" (mss. courtesy of the authors).
30. For an important exception to the rule about the analysis of large-firm responses, see Lynne G. Zucker and Michael R. Darby, "Present at the Biotechnological Revolution," Research Policy 26 (1997): 429-46. We provide a description and analysis of what Zucker and Darby refer to as the "generalizability of the transformation experience" (440). style of research and development that had yielded penicillin, streptomycin, and tetracycline in the 1940s and 1950s. The firms screened tens of thousands of samples (of soil, for instance) to discover evidence of anti-microbial activity. Then, they attempted to isolate and analyze the active chemical so that they could use it as the basis for a new therapy; usually, this followed further chemical modification to improve its bioavailability and mitigate its side-effects.
31. Chandler, Scale and Scope, provides the best historical treatment of the role of economies of scale and scope in the industries of the United States, Great Britain, and Germany from the late nineteenth century to the early 1960s. See
32. F. M. Scherer and David Ross, Industrial Market Structure and Economic Performance (Boston, 1990), for an analysis of the evidence from the vantage point of industrial organization theory.
33. Financial Times, 23 July 1992, 21-23; 27 Oct. 1992, 20; 23 Mar. 1994, I-VIII; Francis H. Spiegel, Jr., "Strategic Alliances, With Care and Creativity," Financial Executive 9 (Mar./Apr. 1993): 28-31; Wall Street Journal, 7 Mar. 1996, 1, 12; M. L. Sharp, "Pharmaceuticals and Biotechnology: Perspectives for the European Industry," in Technology and the Future of Europe: Global Competition and the Environment in the 1990s, eds. Christopher Freeman, Margaret Sharp, and William Walker (London, 1991); Natasha Alperowicz, "Transforming Hoechst," Chemical Week, 22 May 1996, 22-26. Hoechst had acquired Marion Merell Dow. Sharon L. Oswald and William R. Boulton, "Obtaining Industry Control: The Case of the Pharmaceutical Distribution Industry," California Management Review 38 (Fall 1995): 140-42. Consolidation was taking place at all levels of the industry. Between 1963 and 1993, the number of wholesalers fell from four thousand to seventy-four. Ibid., 146-47.
34. Financial Times, 23 July 1992, 21-23; 27 Oct. 1992, 20; 23 Mar. 1994, I-VIII; Francis H. Spiegel, Jr., "Strategic Alliances, With Care and Creativity," Financial Executive 9 (Mar./Apr. 1993): 28-31; Wall Street Journal, 7 Mar. 1996, 1, 12; M. L. Sharp, "Pharmaceuticals and Biotechnology: Perspectives for the European Industry," in Technology and the Future of Europe: Global Competition and the Environment in the 1990s, eds. Christopher Freeman, Margaret Sharp, and William Walker (London, 1991); Natasha Alperowicz, "Transforming Hoechst," Chemical Week, 22 May 1996, 22-26. Hoechst had acquired Marion Merell Dow. Sharon L. Oswald and William R. Boulton, "Obtaining Industry Control: The Case of the Pharmaceutical Distribution Industry," California Management Review 38 (Fall 1995): 140-42. Consolidation was taking place at all levels of the industry. Between 1963 and 1993, the number of wholesalers fell from four thousand to seventy-four. Ibid., 146-47.
35. Financial Times, 23 July 1992, 21-23; 27 Oct. 1992, 20; 23 Mar. 1994, I-VIII; Francis H. Spiegel, Jr., "Strategic Alliances, With Care and Creativity," Financial Executive 9 (Mar./Apr. 1993): 28-31; Wall Street Journal, 7 Mar. 1996, 1, 12; M. L. Sharp, "Pharmaceuticals and Biotechnology: Perspectives for the European Industry," in Technology and the Future of Europe: Global Competition and the Environment in the 1990s, eds. Christopher Freeman, Margaret Sharp, and William Walker (London, 1991); Natasha Alperowicz, "Transforming Hoechst," Chemical Week, 22 May 1996, 22-26. Hoechst had acquired Marion Merell Dow. Sharon L. Oswald and William R. Boulton, "Obtaining Industry Control: The Case of the Pharmaceutical Distribution Industry," California Management Review 38 (Fall 1995): 140-42. Consolidation was taking place at all levels of the industry. Between 1963 and 1993, the number of wholesalers fell from four thousand to seventy-four. Ibid., 146-47.
36. Financial Times, 23 July 1992, 21-23; 27 Oct. 1992, 20; 23 Mar. 1994, I-VIII; Francis H. Spiegel, Jr., "Strategic Alliances, With Care and Creativity," Financial Executive 9 (Mar./Apr. 1993): 28-31; Wall Street Journal, 7 Mar. 1996, 1, 12; M. L. Sharp, "Pharmaceuticals and Biotechnology: Perspectives for the European Industry," in Technology and the Future of Europe: Global Competition and the Environment in the 1990s, eds. Christopher Freeman, Margaret Sharp, and William Walker (London, 1991); Natasha Alperowicz, "Transforming Hoechst," Chemical Week, 22 May 1996, 22-26. Hoechst had acquired Marion Merell Dow. Sharon L. Oswald and William R. Boulton, "Obtaining Industry Control: The Case of the Pharmaceutical Distribution Industry," California Management Review 38 (Fall 1995): 140-42. Consolidation was taking place at all levels of the industry. Between 1963 and 1993, the number of wholesalers fell from four thousand to seventy-four. Ibid., 146-47.
37. Financial Times, 23 July 1992, 21-23; 27 Oct. 1992, 20; 23 Mar. 1994, I-VIII; Francis H. Spiegel, Jr., "Strategic Alliances, With Care and Creativity," Financial Executive 9 (Mar./Apr. 1993): 28-31; Wall Street Journal, 7 Mar. 1996, 1, 12; M. L. Sharp, "Pharmaceuticals and Biotechnology: Perspectives for the European Industry," in Technology and the Future of Europe: Global Competition and the Environment in the 1990s, eds. Christopher Freeman, Margaret Sharp, and William Walker (London, 1991); Natasha Alperowicz, "Transforming Hoechst," Chemical Week, 22 May 1996, 22-26. Hoechst had acquired Marion Merell Dow. Sharon L. Oswald and William R. Boulton, "Obtaining Industry Control: The Case of the Pharmaceutical Distribution Industry," California Management Review 38 (Fall 1995): 140-42. Consolidation was taking place at all levels of the industry. Between 1963 and 1993, the number of wholesalers fell from four thousand to seventy-four. Ibid., 146-47.
38. Financial Times, 23 July 1992, 21-23; 27 Oct. 1992, 20; 23 Mar. 1994, I-VIII; Francis H. Spiegel, Jr., "Strategic Alliances, With Care and Creativity," Financial Executive 9 (Mar./Apr. 1993): 28-31; Wall Street Journal, 7 Mar. 1996, 1, 12; M. L. Sharp, "Pharmaceuticals and Biotechnology: Perspectives for the European Industry," in Technology and the Future of Europe: Global Competition and the Environment in the 1990s, eds. Christopher Freeman, Margaret Sharp, and William Walker (London, 1991); Natasha Alperowicz, "Transforming Hoechst," Chemical Week, 22 May 1996, 22-26. Hoechst had acquired Marion Merell Dow. Sharon L. Oswald and William R. Boulton, "Obtaining Industry Control: The Case of the Pharmaceutical Distribution Industry," California Management Review 38 (Fall 1995): 140-42. Consolidation was taking place at all levels of the industry. Between 1963 and 1993, the number of wholesalers fell from four thousand to seventy-four. Ibid., 146-47.
39. Financial Times, 23 July 1992, 21-23; 27 Oct. 1992, 20; 23 Mar. 1994, I-VIII; Francis H. Spiegel, Jr., "Strategic Alliances, With Care and Creativity," Financial Executive 9 (Mar./Apr. 1993): 28-31; Wall Street Journal, 7 Mar. 1996, 1, 12; M. L. Sharp, "Pharmaceuticals and Biotechnology: Perspectives for the European Industry," in Technology and the Future of Europe: Global Competition and the Environment in the 1990s, eds. Christopher Freeman, Margaret Sharp, and William Walker (London, 1991); Natasha Alperowicz, "Transforming Hoechst," Chemical Week, 22 May 1996, 22-26. Hoechst had acquired Marion Merell Dow. Sharon L. Oswald and William R. Boulton, "Obtaining Industry Control: The Case of the Pharmaceutical Distribution Industry," California Management Review 38 (Fall 1995): 140-42. Consolidation was taking place at all levels of the industry. Between 1963 and 1993, the number of wholesalers fell from four thousand to seventy-four. Ibid., 146-47.
40. The last two structural cases involved IBM and AT&T. The Department of Justice (DOJ) abandoned the IBM case, and in 1982, DOJ settled with AT&T when the company signed the agreement that broke up the Bell System. Between 1982 and 1998, there were no major structural cases; the Clinton Administration seems now to have changed that policy by bringing suit against Microsoft.
41. Luigi Orsenigo, The Emergence of Biotechnology: Institutions and Markets in Industrial Innovation (New York, 1989), esp. 72-98. On the unusual case of Genetics Institute and Harvard University, see Bio/Technology (Dec. 1983): 84-85; and Kenney, Biotechnology: The University-Industrial Complex (New Haven, 1986), 78-83.
42. Luigi Orsenigo, The Emergence of Biotechnology: Institutions and Markets in Industrial Innovation (New York, 1989), esp. 72-98. On the unusual case of Genetics Institute and Harvard University, see Bio/Technology (Dec. 1983): 84-85; and Kenney, Biotechnology: The University-Industrial Complex (New Haven, 1986), 78-83.
43. Luigi Orsenigo, The Emergence of Biotechnology: Institutions and Markets in Industrial Innovation (New York, 1989), esp. 72-98. On the unusual case of Genetics Institute and Harvard University, see Bio/Technology (Dec. 1983): 84-85; and Kenney, Biotechnology: The University-Industrial Complex (New Haven, 1986), 78-83.
44. See David F. Noble, Forces of Production: A Social History of Industrial Automation (New York, 1984), for some interesting exceptions to the norm.
45. This was particularly true during the early phase of development, from 1971 through 1980. Mark D. Dibner, "Commercial Biotech's Founding Fathers," Bio/Technology 5 (June 1987): 571-72; Kenney, Biotechnology, 28-72, 90-106.
46. This was particularly true during the early phase of development, from 1971 through 1980. Mark D. Dibner, "Commercial Biotech's Founding Fathers," Bio/Technology 5 (June 1987): 571-72; Kenney, Biotechnology, 28-72, 90-106.
47. See Figure 2.1 for the "Aggregate Growth of New Biotechnology Enterprises, 1973-1987," in Krimsky, Biotechnics & Society, 31. There were biotech companies - for example, Cetus (1971) - established before scientists developed (1973) the new technique for cutting, splicing, and reproducing DNA by using plasmids.
48. Stanley N. Cohen, "The Manipulation of Genes," Scientific American 233:1 (1975): 24-33. On the mounting public and professional fear, see ibid., 32-33; Bud, The Uses of Life, 174-77; Stephen Hall, Invisible Frontiers: The Race to Synthesize a Human Gene (Redmond, 1987), 41-68; and Bio/Technology (Oct. 1983): 644. The latter publication reported that as late as 1983 "nearly two-thirds of the American people appear to believe society should exercise caution in proceeding with genetic engineering. . . ." Susan Wright, Molecular Politics: Developing American and British Regulatory Policy for Genetic Engineering, 1972-1982 (Chicago, 1994), provides an excellent comparative history of the rise and fall of concern about and controls on genetic engineering. The public concern and the policy issues did not go unnoticed in commercial circles, see Wall Street Journal, 13 Aug. 1974; 28 Feb. 1975; 21 Mar. 1975; 28 Sept. 1976; 1 Oct. 1976; and 13 July 1984; Business Week, 9 Aug. 1976, 66-67; and The Economist, 25 Jan. 1975, 25; 8 Nov. 1975, 18; 10 July 1976, 79; and 28 Aug. 1976, 13.
49. Stanley N. Cohen, "The Manipulation of Genes," Scientific American 233:1 (1975): 24-33. On the mounting public and professional fear, see ibid., 32-33; Bud, The Uses of Life, 174-77; Stephen Hall, Invisible Frontiers: The Race to Synthesize a Human Gene (Redmond, 1987), 41-68; and Bio/Technology (Oct. 1983): 644. The latter publication reported that as late as 1983 "nearly two-thirds of the American people appear to believe society should exercise caution in proceeding with genetic engineering. . . ." Susan Wright, Molecular Politics: Developing American and British Regulatory Policy for Genetic Engineering, 1972-1982 (Chicago, 1994), provides an excellent comparative history of the rise and fall of concern about and controls on genetic engineering. The public concern and the policy issues did not go unnoticed in commercial circles, see Wall Street Journal, 13 Aug. 1974; 28 Feb. 1975; 21 Mar. 1975; 28 Sept. 1976; 1 Oct. 1976; and 13 July 1984; Business Week, 9 Aug. 1976, 66-67; and The Economist, 25 Jan. 1975, 25; 8 Nov. 1975, 18; 10 July 1976, 79; and 28 Aug. 1976, 13.
50. Stanley N. Cohen, "The Manipulation of Genes," Scientific American 233:1 (1975): 24-33. On the mounting public and professional fear, see ibid., 32-33; Bud, The Uses of Life, 174-77; Stephen Hall, Invisible Frontiers: The Race to Synthesize a Human Gene (Redmond, 1987), 41-68; and Bio/Technology (Oct. 1983): 644. The latter publication reported that as late as 1983 "nearly two-thirds of the American people appear to believe society should exercise caution in proceeding with genetic engineering. . . ." Susan Wright, Molecular Politics: Developing American and British Regulatory Policy for Genetic Engineering, 1972-1982 (Chicago, 1994), provides an excellent comparative history of the rise and fall of concern about and controls on genetic engineering. The public concern and the policy issues did not go unnoticed in commercial circles, see Wall Street Journal, 13 Aug. 1974; 28 Feb. 1975; 21 Mar. 1975; 28 Sept. 1976; 1 Oct. 1976; and 13 July 1984; Business Week, 9 Aug. 1976, 66-67; and The Economist, 25 Jan. 1975, 25; 8 Nov. 1975, 18; 10 July 1976, 79; and 28 Aug. 1976, 13.
51. Stanley N. Cohen, "The Manipulation of Genes," Scientific American 233:1 (1975): 24-33. On the mounting public and professional fear, see
52. Stanley N. Cohen, "The Manipulation of Genes," Scientific American 233:1 (1975): 24-33. On the mounting public and professional fear, see ibid., 32-33; Bud, The Uses of Life, 174-77; Stephen Hall, Invisible Frontiers: The Race to Synthesize a Human Gene (Redmond, 1987), 41-68; and Bio/Technology (Oct. 1983): 644. The latter publication reported that as late as 1983 "nearly two-thirds of the American people appear to believe society should exercise caution in proceeding with genetic engineering. . . ." Susan Wright, Molecular Politics: Developing American and British Regulatory Policy for Genetic Engineering, 1972-1982 (Chicago, 1994), provides an excellent comparative history of the rise and fall of concern about and controls on genetic engineering. The public concern and the policy issues did not go unnoticed in commercial circles, see Wall Street Journal, 13 Aug. 1974; 28 Feb. 1975; 21 Mar. 1975; 28 Sept. 1976; 1 Oct. 1976; and 13 July 1984; Business Week, 9 Aug. 1976, 66-67; and The Economist, 25 Jan. 1975, 25; 8 Nov. 1975, 18; 10 July 1976, 79; and 28 Aug. 1976, 13.
53. Stanley N. Cohen, "The Manipulation of Genes," Scientific American 233:1 (1975): 24-33. On the mounting public and professional fear, see ibid., 32-33; Bud, The Uses of Life, 174-77; Stephen Hall, Invisible Frontiers: The Race to Synthesize a Human Gene (Redmond, 1987), 41-68; and Bio/Technology (Oct. 1983): 644. The latter publication reported that as late as 1983 "nearly two-thirds of the American people appear to believe society should exercise caution in proceeding with genetic engineering. . . ." Susan Wright, Molecular Politics: Developing American and British Regulatory Policy for Genetic Engineering, 1972-1982 (Chicago, 1994), provides an excellent comparative history of the rise and fall of concern about and controls on genetic engineering. The public concern and the policy issues did not go unnoticed in commercial circles, see Wall Street Journal, 13 Aug. 1974; 28 Feb. 1975; 21 Mar. 1975; 28 Sept. 1976; 1 Oct. 1976; and 13 July 1984; Business Week, 9 Aug. 1976, 66-67; and The Economist, 25 Jan. 1975, 25; 8 Nov. 1975, 18; 10 July 1976, 79; and 28 Aug. 1976, 13.
54. Stanley N. Cohen, "The Manipulation of Genes," Scientific American 233:1 (1975): 24-33. On the mounting public and professional fear, see ibid., 32-33; Bud, The Uses of Life, 174-77; Stephen Hall, Invisible Frontiers: The Race to Synthesize a Human Gene (Redmond, 1987), 41-68; and Bio/Technology (Oct. 1983): 644. The latter publication reported that as late as 1983 "nearly two-thirds of the American people appear to believe society should exercise caution in proceeding with genetic engineering. . . ." Susan Wright, Molecular Politics: Developing American and British Regulatory Policy for Genetic Engineering, 1972-1982 (Chicago, 1994), provides an excellent comparative history of the rise and fall of concern about and controls on genetic engineering. The public concern and the policy issues did not go unnoticed in commercial circles, see Wall Street Journal, 13 Aug. 1974; 28 Feb. 1975; 21 Mar. 1975; 28 Sept. 1976; 1 Oct. 1976; and 13 July 1984; Business Week, 9 Aug. 1976, 66-67; and The Economist, 25 Jan. 1975, 25; 8 Nov. 1975, 18; 10 July 1976, 79; and 28 Aug. 1976, 13.
55. Stanley N. Cohen, "The Manipulation of Genes," Scientific American 233:1 (1975): 24-33. On the mounting public and professional fear, see ibid., 32-33; Bud, The Uses of Life, 174-77; Stephen Hall, Invisible Frontiers: The Race to Synthesize a Human Gene (Redmond, 1987), 41-68; and Bio/Technology (Oct. 1983): 644. The latter publication reported that as late as 1983 "nearly two-thirds of the American people appear to believe society should exercise caution in proceeding with genetic engineering. . . ." Susan Wright, Molecular Politics: Developing American and British Regulatory Policy for Genetic Engineering, 1972-1982 (Chicago, 1994), provides an excellent comparative history of the rise and fall of concern about and controls on genetic engineering. The public concern and the policy issues did not go unnoticed in commercial circles, see Wall Street Journal, 13 Aug. 1974; 28 Feb. 1975; 21 Mar. 1975; 28 Sept. 1976; 1 Oct. 1976; and 13 July 1984; Business Week, 9 Aug. 1976, 66-67; and The Economist, 25 Jan. 1975, 25; 8 Nov. 1975, 18; 10 July 1976, 79; and 28 Aug. 1976, 13.
56. Stanley N. Cohen, "The Manipulation of Genes," Scientific American 233:1 (1975): 24-33. On the mounting public and professional fear, see ibid., 32-33; Bud, The Uses of Life, 174-77; Stephen Hall, Invisible Frontiers: The Race to Synthesize a Human Gene (Redmond, 1987), 41-68; and Bio/Technology (Oct. 1983): 644. The latter publication reported that as late as 1983 "nearly two-thirds of the American people appear to believe society should exercise caution in proceeding with genetic engineering. . . ." Susan Wright, Molecular Politics: Developing American and British Regulatory Policy for Genetic Engineering, 1972-1982 (Chicago, 1994), provides an excellent comparative history of the rise and fall of concern about and controls on genetic engineering. The public concern and the policy issues did not go unnoticed in commercial circles, see Wall Street Journal, 13 Aug. 1974; 28 Feb. 1975; 21 Mar. 1975; 28 Sept. 1976; 1 Oct. 1976; and 13 July 1984; Business Week, 9 Aug. 1976, 66-67; and The Economist, 25 Jan. 1975, 25; 8 Nov. 1975, 18; 10 July 1976, 79; and 28 Aug. 1976, 13.
57. Business Week 12 Dec. 1977, 128, 132. Maureen D. McKelvey, Evolutionary Innovation: The Business of Biotechnology (Oxford, 1996), esp. 91 and following, provides an insightful description and analysis of Genentech and its links with the Swedish firm Kabi and with Eli Lilly.
58. Business Week 12 Dec. 1977, 128, 132. Maureen D. McKelvey, Evolutionary Innovation: The Business of Biotechnology (Oxford, 1996), esp. 91 and following, provides an insightful description and analysis of Genentech and its links with the Swedish firm Kabi and with Eli Lilly.
59. On Genentech see Robert Teitelman, Gene Dreams: Wall Street, Academia, and the Rise of Biotechnology (New York, 1989). See also Teitelman's Profits of Science: The American Marriage of Business and Technology (New York, 1994). As late as 1979, there had still been concern about the nature of the controls the federal government might impose on rDNA research; see Business Week, 24 Sept. 1979, 64, 68. The election results in 1980 appear however, to have erased those fears in the United States.
60. On Genentech see Robert Teitelman, Gene Dreams: Wall Street, Academia, and the Rise of Biotechnology (New York, 1989). See also Teitelman's Profits of Science: The American Marriage of Business and Technology (New York, 1994). As late as 1979, there had still been concern about the nature of the controls the federal government might impose on rDNA research; see Business Week, 24 Sept. 1979, 64, 68. The election results in 1980 appear however, to have erased those fears in the United States.
61. On Genentech see Robert Teitelman, Gene Dreams: Wall Street, Academia, and the Rise of Biotechnology (New York, 1989). See also Teitelman's Profits of Science: The American Marriage of Business and Technology (New York, 1994). As late as 1979, there had still been concern about the nature of the controls the federal government might impose on rDNA research; see Business Week, 24 Sept. 1979, 64, 68. The election results in 1980 appear however, to have erased those fears in the United States.
62. On Silicon Valley, see AnnaLee Saxenian, Regional Advantage: Culture and Competition in Silicon Valley and Route 128 (Cambridge, Mass., 1994), 11-27. On biotech scientific developments, see, W. French Anderson and Elaine G. Diacumakos, "Genetic Engineering in Mammalian Cells," Scientific American 245 (July 1981): 106-21. On urban financial support, see James R. Murray et al., "The Chicago Model for Developing Biotechnology Enterprise," Bio/Technology (July 1983): 407-10. See also the review of state, regional, and national programs in the supplement to Bio/Technology (Dec. 1983); and the information on the U.S. Small Business Innovation Research Program in Bio/Technology (Jan. 1984): 22. For a later, more reserved evaluation, see Mark Ratner, "Regional Development: The Role and Effectiveness of Governmental Agencies," Bio/Technology (July 1989): 671-72, 678-81.
63. On Silicon Valley, see AnnaLee Saxenian, Regional Advantage: Culture and Competition in Silicon Valley and Route 128 (Cambridge, Mass., 1994), 11-27. On biotech scientific developments, see, W. French Anderson and Elaine G. Diacumakos, "Genetic Engineering in Mammalian Cells," Scientific American 245 (July 1981): 106-21. On urban financial support, see James R. Murray et al., "The Chicago Model for Developing Biotechnology Enterprise," Bio/Technology (July 1983): 407-10. See also the review of state, regional, and national programs in the supplement to Bio/Technology (Dec. 1983); and the information on the U.S. Small Business Innovation Research Program in Bio/Technology (Jan. 1984): 22. For a later, more reserved evaluation, see Mark Ratner, "Regional Development: The Role and Effectiveness of Governmental Agencies," Bio/Technology (July 1989): 671-72, 678-81.
64. On Silicon Valley, see AnnaLee Saxenian, Regional Advantage: Culture and Competition in Silicon Valley and Route 128 (Cambridge, Mass., 1994), 11-27. On biotech scientific developments, see, W. French Anderson and Elaine G. Diacumakos, "Genetic Engineering in Mammalian Cells," Scientific American 245 (July 1981): 106-21. On urban financial support, see James R. Murray et al., "The Chicago Model for Developing Biotechnology Enterprise," Bio/Technology (July 1983): 407-10. See also the review of state, regional, and national programs in the supplement to Bio/Technology (Dec. 1983); and the information on the U.S. Small Business Innovation Research Program in Bio/Technology (Jan. 1984): 22. For a later, more reserved evaluation, see Mark Ratner, "Regional Development: The Role and Effectiveness of Governmental Agencies," Bio/Technology (July 1989): 671-72, 678-81.
65. On Silicon Valley, see AnnaLee Saxenian, Regional Advantage: Culture and Competition in Silicon Valley and Route 128 (Cambridge, Mass., 1994), 11-27. On biotech scientific developments, see, W. French Anderson and Elaine G. Diacumakos, "Genetic Engineering in Mammalian Cells," Scientific American 245 (July 1981): 106-21. On urban financial support, see James R. Murray et al., "The Chicago Model for Developing Biotechnology Enterprise," Bio/Technology (July 1983): 407-10. See also the review of state, regional, and national programs in the supplement to Bio/Technology (Dec. 1983); and the information on the U.S. Small Business Innovation Research Program in Bio/Technology (Jan. 1984): 22. For a later, more reserved evaluation, see Mark Ratner, "Regional Development: The Role and Effectiveness of Governmental Agencies," Bio/Technology (July 1989): 671-72, 678-81.
66. On Silicon Valley, see AnnaLee Saxenian, Regional Advantage: Culture and Competition in Silicon Valley and Route 128 (Cambridge, Mass., 1994), 11-27. On biotech scientific developments, see, W. French Anderson and Elaine G. Diacumakos, "Genetic Engineering in Mammalian Cells," Scientific American 245 (July 1981): 106-21. On urban financial support, see James R. Murray et al., "The Chicago Model for Developing Biotechnology Enterprise," Bio/Technology (July 1983): 407-10. See also the review of state, regional, and national programs in the supplement to Bio/Technology (Dec. 1983); and the information on the U.S. Small Business Innovation Research Program in Bio/Technology (Jan. 1984): 22. For a later, more reserved evaluation, see Mark Ratner, "Regional Development: The Role and Effectiveness of Governmental Agencies," Bio/Technology (July 1989): 671-72, 678-81.
67. On Silicon Valley, see AnnaLee Saxenian, Regional Advantage: Culture and Competition in Silicon Valley and Route 128 (Cambridge, Mass., 1994), 11-27. On biotech scientific developments, see, W. French Anderson and Elaine G. Diacumakos, "Genetic Engineering in Mammalian Cells," Scientific American 245 (July 1981): 106-21. On urban financial support, see James R. Murray et al., "The Chicago Model for Developing Biotechnology Enterprise," Bio/Technology (July 1983): 407-10. See also the review of state, regional, and national programs in the supplement to Bio/Technology (Dec. 1983); and the information on the U.S. Small Business Innovation Research Program in Bio/Technology (Jan. 1984): 22. For a later, more reserved evaluation, see Mark Ratner, "Regional Development: The Role and Effectiveness of Governmental Agencies," Bio/Technology (July 1989): 671-72, 678-81.
68. Lynne G. Zucker et al., "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306. R&D limited partnerships - in which investors bought a stake in a specific research project - became popular in the United States in the 1980s, just as biotech venture funds did in Britain. Direct government financing was substantially more important in Europe than in the United States. Bio/Technology (Sept. 1983): .546-48, 552, 554-59.
69. Lynne G. Zucker et al., "Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises," American Economic Review 88:1 (1998): 290-306. R&D limited partnerships - in which investors bought a stake in a specific research project - became popular in the United States in the 1980s, just as biotech venture funds did in Britain. Direct government financing was substantially more important in Europe than in the United States. Bio/Technology (Sept. 1983): .546-48, 552, 554-59.
70. Monoclonal antibodies are homogeneous, biological molecules produced from a single cell line; they recognize and react against a specific chemical structure; their specificity and relative ease of manufacture made them promising candidates as therapeutic agents against
71. Wall Street Journal, 19 Dec. 1984, 33. For the impact of the competition in Europe, see Wall Street Journal, 8 Mar. 1985, 35.
72. Wall Street Journal, 19 Dec. 1984, 33. For the impact of the competition in Europe, see Wall Street Journal, 8 Mar. 1985, 35.
73. On Chiron, see Arthur Klausner, "Chiron: Looking Good," Bio/Technology (Feb. 1987): 121-22, 124, 126-27.
74. Galambos, Networks of Innovation, 172-73, 181-205. While Chiron held the patent and Merck licensed the vaccine, Merck's Virus and Cell Biology team devoted many months of research to the improvements needed after receiving the vectors from Chiron. Interview, Edward M. Scolnick, 17 July 1995. M. R. Hilleman, R. E. Weibel, and E. M. Scolnick, "Recombinant Yeast Human Hepatitis B Vaccine," Journal of the Hong Kong Medical Association 37:2 (1985): 75-85.
75. Galambos, Networks of Innovation, 172-73, 181-205. While Chiron held the patent and Merck licensed the vaccine, Merck's Virus and Cell Biology team devoted many months of research to the improvements needed after receiving the vectors from Chiron. Interview, Edward M. Scolnick, 17 July 1995. M. R. Hilleman, R. E. Weibel, and E. M. Scolnick, "Recombinant Yeast Human Hepatitis B Vaccine," Journal of the Hong Kong Medical Association 37:2 (1985): 75-85.
76. The antigen-antibody response is a basic function of the human immune system. Antigens are substances not normally present in the body that stimulate an immune response. In this case, the antigen was being "expressed" in (that is, being produced by) the cellular machinery of the microbe E. coli. Guide, 302. On Biogen, see Lawrence M. Fisher, "The Rocky Road From Startup to Big-time Player," Strategy & Business (Booz, Allen & Hamilton), Third Quarter, 1997. Gene Bylinsky, "DNA Can Build Companies, Too," Fortune, 16 June 1980, 144-46, 149, 152-53; and Tabitha M. Powledge, "Biogen in Transition: From Research Specialist to Manufacturer," Bio/Technology (July 1983): 398-405. For a table of equity investments in biotechs, 1976-80, see Wright, Molecular Politics, 88-90. See also Business Week, 22 Oct. 1979, 160; Bio/Technology (Dec. 1983): 840; Dibner, Biotechnology Guide, 300-2, lists equity relationships as of 1987. For a thorough review of the continuing importance of these links between biotechs and their pharmaceutical partners, see Roger Longman and Kevin Roche, "Biotech Deals by the Numbers," In Vivo: The Business and Medicine Report 15:8 (1997): 16-20.
77. The antigen-antibody response is a basic function of the human immune system. Antigens are substances not normally present in the body that stimulate an immune response. In this case, the antigen was being "expressed" in (that is, being produced by) the cellular machinery of the microbe E. coli. Guide, 302. On Biogen, see Lawrence M. Fisher, "The Rocky Road From Startup to Big-time Player," Strategy & Business (Booz, Allen & Hamilton), Third Quarter, 1997. Gene Bylinsky, "DNA Can Build Companies, Too," Fortune, 16 June 1980, 144-46, 149, 152-53; and Tabitha M. Powledge, "Biogen in Transition: From Research Specialist to Manufacturer," Bio/Technology (July 1983): 398-405. For a table of equity investments in biotechs, 1976-80, see Wright, Molecular Politics, 88-90. See also Business Week, 22 Oct. 1979, 160; Bio/Technology (Dec. 1983): 840; Dibner, Biotechnology Guide, 300-2, lists equity relationships as of 1987. For a thorough review of the continuing importance of these links between biotechs and their pharmaceutical partners, see Roger Longman and Kevin Roche, "Biotech Deals by the Numbers," In Vivo: The Business and Medicine Report 15:8 (1997): 16-20.
78. The antigen-antibody response is a basic function of the human immune system. Antigens are substances not normally present in the body that stimulate an immune response. In this case, the antigen was being "expressed" in (that is, being produced by) the cellular machinery of the microbe E. coli. Guide, 302. On Biogen, see Lawrence M. Fisher, "The Rocky Road From Startup to Big-time Player," Strategy & Business (Booz, Allen & Hamilton), Third Quarter, 1997. Gene Bylinsky, "DNA Can Build Companies, Too," Fortune, 16 June 1980, 144-46, 149, 152-53; and Tabitha M. Powledge, "Biogen in Transition: From Research Specialist to Manufacturer," Bio/Technology (July 1983): 398-405. For a table of equity investments in biotechs, 1976-80, see Wright, Molecular Politics, 88-90. See also Business Week, 22 Oct. 1979, 160; Bio/Technology (Dec. 1983): 840; Dibner, Biotechnology Guide, 300-2, lists equity relationships as of 1987. For a thorough review of the continuing importance of these links between biotechs and their pharmaceutical partners, see Roger Longman and Kevin Roche, "Biotech Deals by the Numbers," In Vivo: The Business and Medicine Report 15:8 (1997): 16-20.
79. The antigen-antibody response is a basic function of the human immune system. Antigens are substances not normally present in the body that stimulate an immune response. In this case, the antigen was being "expressed" in (that is, being produced by) the cellular machinery of the microbe E. coli. Guide, 302. On Biogen, see Lawrence M. Fisher, "The Rocky Road From Startup to Big-time Player," Strategy & Business (Booz, Allen & Hamilton), Third Quarter, 1997. Gene Bylinsky, "DNA Can Build Companies, Too," Fortune, 16 June 1980, 144-46, 149, 152-53; and Tabitha M. Powledge, "Biogen in Transition: From Research Specialist to Manufacturer," Bio/Technology (July 1983): 398-405. For a table of equity investments in biotechs, 1976-80, see Wright, Molecular Politics, 88-90. See also Business Week, 22 Oct. 1979, 160; Bio/Technology (Dec. 1983): 840; Dibner, Biotechnology Guide, 300-2, lists equity relationships as of 1987. For a thorough review of the continuing importance of these links between biotechs and their pharmaceutical partners, see Roger Longman and Kevin Roche, "Biotech Deals by the Numbers," In Vivo: The Business and Medicine Report 15:8 (1997): 16-20.
80. The antigen-antibody response is a basic function of the human immune system. Antigens are substances not normally present in the body that stimulate an immune response. In this case, the antigen was being "expressed" in (that is, being produced by) the cellular machinery of the microbe E. coli. Guide, 302. On Biogen, see Lawrence M. Fisher, "The Rocky Road From Startup to Big-time Player," Strategy & Business (Booz, Allen & Hamilton), Third Quarter, 1997. Gene Bylinsky, "DNA Can Build Companies, Too," Fortune, 16 June 1980, 144-46, 149, 152-53; and Tabitha M. Powledge, "Biogen in Transition: From Research Specialist to Manufacturer," Bio/Technology (July 1983): 398-405. For a table of equity investments in biotechs, 1976-80, see Wright, Molecular Politics, 88-90. See also Business Week, 22 Oct. 1979, 160; Bio/Technology (Dec. 1983): 840; Dibner, Biotechnology Guide, 300-2, lists equity relationships as of 1987. For a thorough review of the continuing importance of these links between biotechs and their pharmaceutical partners, see Roger Longman and Kevin Roche, "Biotech Deals by the Numbers," In Vivo: The Business and Medicine Report 15:8 (1997): 16-20.
81. The antigen-antibody response is a basic function of the human immune system. Antigens are substances not normally present in the body that stimulate an immune response. In this case, the antigen was being "expressed" in (that is, being produced by) the cellular machinery of the microbe E. coli. Guide, 302. On Biogen, see Lawrence M. Fisher, "The Rocky Road From Startup to Big-time Player," Strategy & Business (Booz, Allen & Hamilton), Third Quarter, 1997. Gene Bylinsky, "DNA Can Build Companies, Too," Fortune, 16 June 1980, 144-46, 149, 152-53; and Tabitha M. Powledge, "Biogen in Transition: From Research Specialist to Manufacturer," Bio/Technology (July 1983): 398-405. For a table of equity investments in biotechs, 1976-80, see Wright, Molecular Politics, 88-90. See also Business Week, 22 Oct. 1979, 160; Bio/Technology (Dec. 1983): 840; Dibner, Biotechnology Guide, 300-2, lists equity relationships as of 1987. For a thorough review of the continuing importance of these links between biotechs and their pharmaceutical partners, see Roger Longman and Kevin Roche, "Biotech Deals by the Numbers," In Vivo: The Business and Medicine Report 15:8 (1997): 16-20.
82. The antigen-antibody response is a basic function of the human immune system. Antigens are substances not normally present in the body that stimulate an immune response. In this case, the antigen was being "expressed" in (that is, being produced by) the cellular machinery of the microbe E. coli. Guide, 302. On Biogen, see Lawrence M. Fisher, "The Rocky Road From Startup to Big-time Player," Strategy & Business (Booz, Allen & Hamilton), Third Quarter, 1997. Gene Bylinsky, "DNA Can Build Companies, Too," Fortune, 16 June 1980, 144-46, 149, 152-53; and Tabitha M. Powledge, "Biogen in Transition: From Research Specialist to Manufacturer," Bio/Technology (July 1983): 398-405. For a table of equity investments in biotechs, 1976-80, see Wright, Molecular Politics, 88-90. See also Business Week, 22 Oct. 1979, 160; Bio/Technology (Dec. 1983): 840; Dibner, Biotechnology Guide, 300-2, lists equity relationships as of 1987. For a thorough review of the continuing importance of these links between biotechs and their pharmaceutical partners, see Roger Longman and Kevin Roche, "Biotech Deals by the Numbers," In Vivo: The Business and Medicine Report 15:8 (1997): 16-20.
83. The antigen-antibody response is a basic function of the human immune system. Antigens are substances not normally present in the body that stimulate an immune response. In this case, the antigen was being "expressed" in (that is, being produced by) the cellular machinery of the microbe E. coli. Guide, 302. On Biogen, see Lawrence M. Fisher, "The Rocky Road From Startup to Big-time Player," Strategy & Business (Booz, Allen & Hamilton), Third Quarter, 1997. Gene Bylinsky, "DNA Can Build Companies, Too," Fortune, 16 June 1980, 144-46, 149, 152-53; and Tabitha M. Powledge, "Biogen in Transition: From Research Specialist to Manufacturer," Bio/Technology (July 1983): 398-405. For a table of equity investments in biotechs, 1976-80, see Wright, Molecular Politics, 88-90. See also Business Week, 22 Oct. 1979, 160; Bio/Technology (Dec. 1983): 840; Dibner, Biotechnology Guide, 300-2, lists equity relationships as of 1987. For a thorough review of the continuing importance of these links between biotechs and their pharmaceutical partners, see Roger Longman and Kevin Roche, "Biotech Deals by the Numbers," In Vivo: The Business and Medicine Report 15:8 (1997): 16-20.
84. Arthur Klausner, "And Then There Were Two," Bio/Technology (July 1985): 605-12; Gambardella, Science and Innovation, Table 3.3. The race ended in a de facto tie. See Wall Street Journal, 24 Feb. 1984, 20; 17 May 1985, 6; 3 June 1985, 6; and 24 July 1985, 16.
85. Arthur Klausner, "And Then There Were Two," Bio/Technology (July 1985): 605-12; Gambardella, Science and Innovation, Table 3.3. The race ended in a de facto tie. See Wall Street Journal, 24 Feb. 1984, 20; 17 May 1985, 6; 3 June 1985, 6; and 24 July 1985, 16.
86. Arthur Klausner, "And Then There Were Two," Bio/Technology (July 1985): 605-12; Gambardella, Science and Innovation, Table 3.3. The race ended in a de facto tie. See Wall Street Journal, 24 Feb. 1984, 20; 17 May 1985, 6; 3 June 1985, 6; and 24 July 1985, 16.
87. On the development of the various agreements, see Gambardella, Science and Innovation, Table 3.3. Wall Street Journal, 18 Jan. 1984, 34; and Gene Bylinsky, "Science Scores a Cancer Breakthrough," Fortune, 25 Nov. 1985, 16-21.
88. On the development of the various agreements, see Gambardella, Science and Innovation, Table 3.3. Wall Street Journal, 18 Jan. 1984, 34; and Gene Bylinsky, "Science Scores a Cancer Breakthrough," Fortune, 25 Nov. 1985, 16-21.
89. On the development of the various agreements, see Gambardella, Science and Innovation, Table 3.3. Wall Street Journal, 18 Jan. 1984, 34; and Gene Bylinsky, "Science Scores a Cancer Breakthrough," Fortune, 25 Nov. 1985, 16-21.
90. Gambardella, Science and Innovation, 104. See also Wall Street Journal, 5 Mar. 1984, 56, on Hoffmann-La Roche. Boehringer Ingelheim International G.m.b.H. had purchased 4.9 percent of Genentech's shares in 1985 (Wall Street Journal, 1 Mar. 1985, 8), and by that time was already marketing Genentech's gamma interferon and its tissue-type plasminogen activator. By 1985, when Genentech had the second largest rDNA manufacturing facility in the world, it was threatening to become the first biotech to succeed in becoming a fully integrated pharmaceutical producer. Eli Lilly's dedicated insulin plant was the world's largest rDNA production facility. Bio/Technology (July 1985): 606.
91. Gambardella, Science and Innovation, 104. See also Wall Street Journal, 5 Mar. 1984, 56, on Hoffmann-La Roche. Boehringer Ingelheim International G.m.b.H. had purchased 4.9 percent of Genentech's shares in 1985 (Wall Street Journal, 1 Mar. 1985, 8), and by that time was already marketing Genentech's gamma interferon and its tissue-type plasminogen activator. By 1985, when Genentech had the second largest rDNA manufacturing facility in the world, it was threatening to become the first biotech to succeed in becoming a fully integrated pharmaceutical producer. Eli Lilly's dedicated insulin plant was the world's largest rDNA production facility. Bio/Technology (July 1985): 606.
92. Gambardella, Science and Innovation, 104. See also Wall Street Journal, 5 Mar. 1984, 56, on Hoffmann-La Roche. Boehringer Ingelheim International G.m.b.H. had purchased 4.9 percent of Genentech's shares in 1985 (Wall Street Journal, 1 Mar. 1985, 8), and by that time was already marketing Genentech's gamma interferon and its tissue-type plasminogen activator. By 1985, when Genentech had the second largest rDNA manufacturing facility in the world, it was threatening to become the first biotech to succeed in becoming a fully integrated pharmaceutical producer. Eli Lilly's dedicated insulin plant was the world's largest rDNA production facility. Bio/Technology (July 1985): 606.
93. Gambardella, Science and Innovation, 104. See also Wall Street Journal, 5 Mar. 1984, 56, on Hoffmann-La Roche. Boehringer Ingelheim International G.m.b.H. had purchased 4.9 percent of Genentech's shares in 1985 (Wall Street Journal, 1 Mar. 1985, 8), and by that time was already marketing Genentech's gamma interferon and its tissue-type plasminogen activator. By 1985, when Genentech had the second largest rDNA manufacturing facility in the world, it was threatening to become the first biotech to succeed in becoming a fully integrated pharmaceutical producer. Eli Lilly's dedicated insulin plant was the world's largest rDNA production facility. Bio/Technology (July 1985): 606.
94. OTA, Biotechnology in a Global Economy (1991), 89. In 1987, Biogen sold its entire Geneva, Switzerland, research operation, including the contracts with the scientific staff, to Glaxo. Bio/Technology (Sept. 1987): 864. On the European industry's responses to biotech, see Margaret Sharp, "Pharmaceuticals and Biotechnology," in ibid., esp. 222-25.
95. OTA, Biotechnology in a Global Economy (1991), 89. In 1987, Biogen sold its entire Geneva, Switzerland, research operation, including the contracts with the scientific staff, to Glaxo. Bio/Technology (Sept. 1987): 864. On the European industry's responses to biotech, see Margaret Sharp, "Pharmaceuticals and Biotechnology," in ibid., esp. 222-25.
96. OTA, Biotechnology in a Global Economy (1991), 89. In 1987, Biogen sold its entire Geneva, Switzerland, research operation, including the contracts with the scientific staff, to Glaxo. Bio/Technology (Sept. 1987): 864. On the European industry's responses to biotech, see Margaret Sharp, "Pharmaceuticals and Biotechnology," in ibid., esp. 222-25.
97. See for instance OTA, New Developments in Biotechnology, 4, U.S. Investment in Biotechnology (1988), 91-2, Table 5-6. Arthur Klausner, "Today's Trends: Doing Business with Japan," Bio/Technology (Oct. 1987): 1019-20, 1024, 1026; in the same issue see Mark D. Dibner, "An Analysis of Partnerships," 1029, 1031-32. One of the exceptions was the joint venture between Amgen and the Kirin Brewery Co. of Japan. Wall Street Journal, 14 May 1984, 16.
98. See for instance OTA, New Developments in Biotechnology, 4, U.S. Investment in Biotechnology (1988), 91-2, Table 5-6. Arthur Klausner, "Today's Trends: Doing Business with Japan," Bio/Technology (Oct. 1987): 1019-20, 1024, 1026; in the same issue see Mark D. Dibner, "An Analysis of Partnerships," 1029, 1031-32. One of the exceptions was the joint venture between Amgen and the Kirin Brewery Co. of Japan. Wall Street Journal, 14 May 1984, 16.
99. See for instance OTA, New Developments in Biotechnology, 4, U.S. Investment in Biotechnology (1988), 91-2, Table 5-6. Arthur Klausner, "Today's Trends: Doing Business with Japan," Bio/Technology (Oct. 1987): 1019-20, 1024, 1026; in the same issue see Mark D. Dibner, "An Analysis of Partnerships," 1029, 1031-32. One of the exceptions was the joint venture between Amgen and the Kirin Brewery Co. of Japan. Wall Street Journal, 14 May 1984, 16.
100. See for instance OTA, New Developments in Biotechnology, 4, U.S. Investment in Biotechnology (1988), 91-2, Table 5-6. Arthur Klausner, "Today's Trends: Doing Business with Japan," Bio/Technology (Oct. 1987): 1019-20, 1024, 1026; in the same issue see Mark D. Dibner, "An Analysis of Partnerships," 1029, 1031-32. One of the exceptions was the joint venture between Amgen and the Kirin Brewery Co. of Japan. Wall Street Journal, 14 May 1984, 16.
101. Mark D. Dibner, "Biotechnology in Pharmaceuticals: The Japanese Challenge," Science 20 Sep. 1985, 1230-35. See also Christopher G. Edwards et al., "Japan Taps Into New Biotech," Bio/Technology (Apr. 1984): 307-21. The trade in biotechnology was substantial enough to support brokers who arranged transactions between U.S. universities and Japanese firms. See Bio/Technology (Feb. 1984): 115-16. Because of the widespread concern in the 1970s and 1980s about U.S. industrial competitiveness and the rise of Japanese industry and finance many of the reports and articles were framed in terms of "The Japanese Challenge." See for instance, Business Week, 4 Aug. 1980, 30-31. OTA, Commercial Biotechnology: An International Analysis (1984), 7-8: "Japan is likely to be the leading competitor of the United States," the OTA concluded. By 1991, however, the OTA decided: "The efforts of MITI to promote biotechnology as a key technology . . . clearly has [sic] been less successful than many anticipated." See OTA, Biotechnology in a Global Economy, Summary (1991) 18. William O. Bullock and Mark D. Dibner, "The Changing Dynamics of Strategic Alliances between US Biotechnology Firms and Japanese Corporations and Universities," Trends in Biotechnology 12 (1994): 397-400, describes the trend in Japan toward developing in-house capabilities.
102. Mark D. Dibner, "Biotechnology in Pharmaceuticals: The Japanese Challenge," Science 20 Sep. 1985, 1230-35. See also Christopher G. Edwards et al., "Japan Taps Into New Biotech," Bio/Technology (Apr. 1984): 307-21. The trade in biotechnology was substantial enough to support brokers who arranged transactions between U.S. universities and Japanese firms. See Bio/Technology (Feb. 1984): 115-16. Because of the widespread concern in the 1970s and 1980s about U.S. industrial competitiveness and the rise of Japanese industry and finance many of the reports and articles were framed in terms of "The Japanese Challenge." See for instance, Business Week, 4 Aug. 1980, 30-31. OTA, Commercial Biotechnology: An International Analysis (1984), 7-8: "Japan is likely to be the leading competitor of the United States," the OTA concluded. By 1991, however, the OTA decided: "The efforts of MITI to promote biotechnology as a key technology . . . clearly has [sic] been less successful than many anticipated." See OTA, Biotechnology in a Global Economy, Summary (1991) 18. William O. Bullock and Mark D. Dibner, "The Changing Dynamics of Strategic Alliances between US Biotechnology Firms and Japanese Corporations and Universities," Trends in Biotechnology 12 (1994): 397-400, describes the trend in Japan toward developing in-house capabilities.
103. Mark D. Dibner, "Biotechnology in Pharmaceuticals: The Japanese Challenge," Science 20 Sep. 1985, 1230-35. See also Christopher G. Edwards et al., "Japan Taps Into New Biotech," Bio/Technology (Apr. 1984): 307-21. The trade in biotechnology was substantial enough to support brokers who arranged transactions between U.S. universities and Japanese firms. See Bio/Technology (Feb. 1984): 115-16. Because of the widespread concern in the 1970s and 1980s about U.S. industrial competitiveness and the rise of Japanese industry and finance many of the reports and articles were framed in terms of "The Japanese Challenge." See for instance, Business Week, 4 Aug. 1980, 30-31. OTA, Commercial Biotechnology: An International Analysis (1984), 7-8: "Japan is likely to be the leading competitor of the United States," the OTA concluded. By 1991, however, the OTA decided: "The efforts of MITI to promote biotechnology as a key technology . . . clearly has [sic] been less successful than many anticipated." See OTA, Biotechnology in a Global Economy, Summary (1991) 18. William O. Bullock and Mark D. Dibner, "The Changing Dynamics of Strategic Alliances between US Biotechnology Firms and Japanese Corporations and Universities," Trends in Biotechnology 12 (1994): 397-400, describes the trend in Japan toward developing in-house capabilities.
104. Mark D. Dibner, "Biotechnology in Pharmaceuticals: The Japanese Challenge," Science 20 Sep. 1985, 1230-35. See also Christopher G. Edwards et al., "Japan Taps Into New Biotech," Bio/Technology (Apr. 1984): 307-21. The trade in biotechnology was substantial enough to support brokers who arranged transactions between U.S. universities and Japanese firms. See Bio/Technology (Feb. 1984): 115-16. Because of the widespread concern in the 1970s and 1980s about U.S. industrial competitiveness and the rise of Japanese industry and finance many of the reports and articles were framed in terms of "The Japanese Challenge." See for instance, Business Week, 4 Aug. 1980, 30-31. OTA, Commercial Biotechnology: An International Analysis (1984), 7-8: "Japan is likely to be the leading competitor of the United States," the OTA concluded. By 1991, however, the OTA decided: "The efforts of MITI to promote biotechnology as a key technology . . . clearly has [sic] been less successful than many anticipated." See OTA, Biotechnology in a Global Economy, Summary (1991) 18. William O. Bullock and Mark D. Dibner, "The Changing Dynamics of Strategic Alliances between US Biotechnology Firms and Japanese Corporations and Universities," Trends in Biotechnology 12 (1994): 397-400, describes the trend in Japan toward developing in-house capabilities.
105. Mark D. Dibner, "Biotechnology in Pharmaceuticals: The Japanese Challenge," Science 20 Sep. 1985, 1230-35. See also Christopher G. Edwards et al., "Japan Taps Into New Biotech," Bio/Technology (Apr. 1984): 307-21. The trade in biotechnology was substantial enough to support brokers who arranged transactions between U.S. universities and Japanese firms. See Bio/Technology (Feb. 1984): 115-16. Because of the widespread concern in the 1970s and 1980s about U.S. industrial competitiveness and the rise of Japanese industry and finance many of the reports and articles were framed in terms of "The Japanese Challenge." See for instance, Business Week, 4 Aug. 1980, 30-31. OTA, Commercial Biotechnology: An International Analysis (1984), 7-8: "Japan is likely to be the leading competitor of the United States," the OTA concluded. By 1991, however, the OTA decided: "The efforts of MITI to promote biotechnology as a key technology . . . clearly has [sic] been less successful than many anticipated." See OTA, Biotechnology in a Global Economy, Summary (1991) 18. William O. Bullock and Mark D. Dibner, "The Changing Dynamics of Strategic Alliances between US Biotechnology Firms and Japanese Corporations and Universities," Trends in Biotechnology 12 (1994): 397-400, describes the trend in Japan toward developing in-house capabilities.
106. Mark D. Dibner, "Biotechnology in Pharmaceuticals: The Japanese Challenge," Science 20 Sep. 1985, 1230-35. See also Christopher G. Edwards et al., "Japan Taps Into New Biotech," Bio/Technology (Apr. 1984): 307-21. The trade in biotechnology was substantial enough to support brokers who arranged transactions between U.S. universities and Japanese firms. See Bio/Technology (Feb. 1984): 115-16. Because of the widespread concern in the 1970s and 1980s about U.S. industrial competitiveness and the rise of Japanese industry and finance many of the reports and articles were framed in terms of "The Japanese Challenge." See for instance, Business Week, 4 Aug. 1980, 30-31. OTA, Commercial Biotechnology: An International Analysis (1984), 7-8: "Japan is likely to be the leading competitor of the United States," the OTA concluded. By 1991, however, the OTA decided: "The efforts of MITI to promote biotechnology as a key technology . . . clearly has [sic] been less successful than many anticipated." See OTA, Biotechnology in a Global Economy, Summary (1991) 18. William O. Bullock and Mark D. Dibner, "The Changing Dynamics of Strategic Alliances between US Biotechnology Firms and Japanese Corporations and Universities," Trends in Biotechnology 12 (1994): 397-400, describes the trend in Japan toward developing in-house capabilities.
107. Mark D. Dibner, "Biotechnology in Pharmaceuticals: The Japanese Challenge," Science 20 Sep. 1985, 1230-35. See also Christopher G. Edwards et al., "Japan Taps Into New Biotech," Bio/Technology (Apr. 1984): 307-21. The trade in biotechnology was substantial enough to support brokers who arranged transactions between U.S. universities and Japanese firms. See Bio/Technology (Feb. 1984): 115-16. Because of the widespread concern in the 1970s and 1980s about U.S. industrial competitiveness and the rise of Japanese industry and finance many of the reports and articles were framed in terms of "The Japanese Challenge." See for instance, Business Week, 4 Aug. 1980, 30-31. OTA, Commercial Biotechnology: An International Analysis (1984), 7-8: "Japan is likely to be the leading competitor of the United States," the OTA concluded. By 1991, however, the OTA decided: "The efforts of MITI to promote biotechnology as a key technology . . . clearly has [sic] been less successful than many anticipated." See OTA, Biotechnology in a Global Economy, Summary (1991) 18. William O. Bullock and Mark D. Dibner, "The Changing Dynamics of Strategic Alliances between US Biotechnology Firms and Japanese Corporations and Universities," Trends in Biotechnology 12 (1994): 397-400, describes the trend in Japan toward developing in-house capabilities.
108. Business Week 24 Nov. 1980, 86-9, 92, 96, 98. David A. Hounshell and John Kenly Smith, Jr., Science and Corporate Strategy: DuPont R&D, 1902-1980 (New York, 1988), 589-90.
109. Business Week 24 Nov. 1980, 86-9, 92, 96, 98. David A. Hounshell and John Kenly Smith, Jr., Science and Corporate Strategy: DuPont R&D, 1902-1980 (New York, 1988), 589-90.
110. For DuPont, this was a return to the strategy the firm had implemented with great success in the 1920s. Fearful that the government would prosecute the firm for violating the antitrust laws, DuPont's leaders had abandoned this strategy in the 1930s. Ibid., 119-221. On the acquisition, see Business Week, 18 May 1981, 150.
111. For DuPont, this was a return to the strategy the firm had implemented with great success in the 1920s. Fearful that the government would prosecute the firm for violating the antitrust laws, DuPont's leaders had abandoned this strategy in the 1930s. Ibid., 119-221. On the acquisition, see Business Week, 18 May 1981, 150.
112. Dibner, Biotechnology Guide, 300-01.
113. Merck & Co., Inc., Annual Reports, 1989-1992; Wayne Koberstein, "Joseph Mollica," Pharmaceutical Executive 11 (May 1991): 24-32. Recently, DuPont purchased Merck's half of the joint venture.
114. Merck & Co., Inc., Annual Reports, 1989-1992; Wayne Koberstein, "Joseph Mollica," Pharmaceutical Executive 11 (May 1991): 24-32. Recently, DuPont purchased Merck's half of the joint venture.
115. The Swiss firm Ciba-Geigy adopted the Roche strategy in 1994, acquiring Chiron for $2.1 billion. Wall Street Journal, 9 Dec. 1994, 2. Bio/Technology (Feb. 1996): 135. The Ciba-Geigy-Chiron relationship began with a series of joint ventures, and the Swiss firm also established biotech research programs in Basle and in North Carolina at the Research Triangle Park. Bio/Technology (Feb. 1987): 122, 124; (June 1987): 530. The acquisitions continued. American Home Products bought 60 percent of Genetics Institute, Inc. In 1991, Sandoz (Switzerland) bought 60 percent of Systemix, a cell-therapy firm, and four years later, Sandoz acquired Genetic Therapy Inc., for $295 million. See Business Week (2 Mar. 1992): 69, 73. Bio/Technology (Sept. 1995): 945-47. The financial problems of the biotech firms once again created conditions that favored large pharmaceutical companies seeking alliances of various sorts. See Business Week, 26 Apr. 1993, 86; and Investors Business Daily, 2 Dec. 1993. On Schering AG's acquisition of Codon and Triton Biosciences through its U.S. subsidiary (Berlex Laboratories), see Williams et al., "Biotechnology in the Drug Discovery Process," Medicinal Research Reviews 13:4 (1993): 431-35.
116. The Swiss firm Ciba-Geigy adopted the Roche strategy in 1994, acquiring Chiron for $2.1 billion. Wall Street Journal, 9 Dec. 1994, 2. Bio/Technology (Feb. 1996): 135. The Ciba-Geigy-Chiron relationship began with a series of joint ventures, and the Swiss firm also established biotech research programs in Basle and in North Carolina at the Research Triangle Park. Bio/Technology (Feb. 1987): 122, 124; (June 1987): 530. The acquisitions continued. American Home Products bought 60 percent of Genetics Institute, Inc. In 1991, Sandoz (Switzerland) bought 60 percent of Systemix, a cell-therapy firm, and four years later, Sandoz acquired Genetic Therapy Inc., for $295 million. See Business Week (2 Mar. 1992): 69, 73. Bio/Technology (Sept. 1995): 945-47. The financial problems of the biotech firms once again created conditions that favored large pharmaceutical companies seeking alliances of various sorts. See Business Week, 26 Apr. 1993, 86; and Investors Business Daily, 2 Dec. 1993. On Schering AG's acquisition of Codon and Triton Biosciences through its U.S. subsidiary (Berlex Laboratories), see Williams et al., "Biotechnology in the Drug Discovery Process," Medicinal Research Reviews 13:4 (1993): 431-35.
117. The Swiss firm Ciba-Geigy adopted the Roche strategy in 1994, acquiring Chiron for $2.1 billion. Wall Street Journal, 9 Dec. 1994, 2. Bio/Technology (Feb. 1996): 135. The Ciba-Geigy-Chiron relationship began with a series of joint ventures, and the Swiss firm also established biotech research programs in Basle and in North Carolina at the Research Triangle Park. Bio/Technology (Feb. 1987): 122, 124; (June 1987): 530. The acquisitions continued. American Home Products bought 60 percent of Genetics Institute, Inc. In 1991, Sandoz (Switzerland) bought 60 percent of Systemix, a cell-therapy firm, and four years later, Sandoz acquired Genetic Therapy Inc., for $295 million. See Business Week (2 Mar. 1992): 69, 73. Bio/Technology (Sept. 1995): 945-47. The financial problems of the biotech firms once again created conditions that favored large pharmaceutical companies seeking alliances of various sorts. See Business Week, 26 Apr. 1993, 86; and Investors Business Daily, 2 Dec. 1993. On Schering AG's acquisition of Codon and Triton Biosciences through its U.S. subsidiary (Berlex Laboratories), see Williams et al., "Biotechnology in the Drug Discovery Process," Medicinal Research Reviews 13:4 (1993): 431-35.
118. The Swiss firm Ciba-Geigy adopted the Roche strategy in 1994, acquiring Chiron for $2.1 billion. Wall Street Journal, 9 Dec. 1994, 2. Bio/Technology (Feb. 1996): 135. The Ciba-Geigy-Chiron relationship began with a series of joint ventures, and the Swiss firm also established biotech research programs in Basle and in North Carolina at the Research Triangle Park. Bio/Technology (Feb. 1987): 122, 124; (June 1987): 530. The acquisitions continued. American Home Products bought 60 percent of Genetics Institute, Inc. In 1991, Sandoz (Switzerland) bought 60 percent of Systemix, a cell-therapy firm, and four years later, Sandoz acquired Genetic Therapy Inc., for $295 million. See Business Week (2 Mar. 1992): 69, 73. Bio/Technology (Sept. 1995): 945-47. The financial problems of the biotech firms once again created conditions that favored large pharmaceutical companies seeking alliances of various sorts. See Business Week, 26 Apr. 1993, 86; and Investors Business Daily, 2 Dec. 1993. On Schering AG's acquisition of Codon and Triton Biosciences through its U.S. subsidiary (Berlex Laboratories), see Williams et al., "Biotechnology in the Drug Discovery Process," Medicinal Research Reviews 13:4 (1993): 431-35.
119. The Swiss firm Ciba-Geigy adopted the Roche strategy in 1994, acquiring Chiron for $2.1 billion. Wall Street Journal, 9 Dec. 1994, 2. Bio/Technology (Feb. 1996): 135. The Ciba-Geigy-Chiron relationship began with a series of joint ventures, and the Swiss firm also established biotech research programs in Basle and in North Carolina at the Research Triangle Park. Bio/Technology (Feb. 1987): 122, 124; (June 1987): 530. The acquisitions continued. American Home Products bought 60 percent of Genetics Institute, Inc. In 1991, Sandoz (Switzerland) bought 60 percent of Systemix, a cell-therapy firm, and four years later, Sandoz acquired Genetic Therapy Inc., for $295 million. See Business Week (2 Mar. 1992): 69, 73. Bio/Technology (Sept. 1995): 945-47. The financial problems of the biotech firms once again created conditions that favored large pharmaceutical companies seeking alliances of various sorts. See Business Week, 26 Apr. 1993, 86; and Investors Business Daily, 2 Dec. 1993. On Schering AG's acquisition of Codon and Triton Biosciences through its U.S. subsidiary (Berlex Laboratories), see Williams et al., "Biotechnology in the Drug Discovery Process," Medicinal Research Reviews 13:4 (1993): 431-35.
120. The Swiss firm Ciba-Geigy adopted the Roche strategy in 1994, acquiring Chiron for $2.1 billion. Wall Street Journal, 9 Dec. 1994, 2. Bio/Technology (Feb. 1996): 135. The Ciba-Geigy-Chiron relationship began with a series of joint ventures, and the Swiss firm also established biotech research programs in Basle and in North Carolina at the Research Triangle Park. Bio/Technology (Feb. 1987): 122, 124; (June 1987): 530. The acquisitions continued. American Home Products bought 60 percent of Genetics Institute, Inc. In 1991, Sandoz (Switzerland) bought 60 percent of Systemix, a cell-therapy firm, and four years later, Sandoz acquired Genetic Therapy Inc., for $295 million. See Business Week (2 Mar. 1992): 69, 73. Bio/Technology (Sept. 1995): 945-47. The financial problems of the biotech firms once again created conditions that favored large pharmaceutical companies seeking alliances of various sorts. See Business Week, 26 Apr. 1993, 86; and Investors Business Daily, 2 Dec. 1993. On Schering AG's acquisition of Codon and Triton Biosciences through its U.S. subsidiary (Berlex Laboratories), see Williams et al., "Biotechnology in the Drug Discovery Process," Medicinal Research Reviews 13:4 (1993): 431-35.
121. The Swiss firm Ciba-Geigy adopted the Roche strategy in 1994, acquiring Chiron for $2.1 billion. Wall Street Journal, 9 Dec. 1994, 2. Bio/Technology (Feb. 1996): 135. The Ciba-Geigy-Chiron relationship began with a series of joint ventures, and the Swiss firm also established biotech research programs in Basle and in North Carolina at the Research Triangle Park. Bio/Technology (Feb. 1987): 122, 124; (June 1987): 530. The acquisitions continued. American Home Products bought 60 percent of Genetics Institute, Inc. In 1991, Sandoz (Switzerland) bought 60 percent of Systemix, a cell-therapy firm, and four years later, Sandoz acquired Genetic Therapy Inc., for $295 million. See Business Week (2 Mar. 1992): 69, 73. Bio/Technology (Sept. 1995): 945-47. The financial problems of the biotech firms once again created conditions that favored large pharmaceutical companies seeking alliances of various sorts. See Business Week, 26 Apr. 1993, 86; and Investors Business Daily, 2 Dec. 1993. On Schering AG's acquisition of Codon and Triton Biosciences through its U.S. subsidiary (Berlex Laboratories), see Williams et al., "Biotechnology in the Drug Discovery Process," Medicinal Research Reviews 13:4 (1993): 431-35.
122. The Swiss firm Ciba-Geigy adopted the Roche strategy in 1994, acquiring Chiron for $2.1 billion. Wall Street Journal, 9 Dec. 1994, 2. Bio/Technology (Feb. 1996): 135. The Ciba-Geigy-Chiron relationship began with a series of joint ventures, and the Swiss firm also established biotech research programs in Basle and in North Carolina at the Research Triangle Park. Bio/Technology (Feb. 1987): 122, 124; (June 1987): 530. The acquisitions continued. American Home Products bought 60 percent of Genetics Institute, Inc. In 1991, Sandoz (Switzerland) bought 60 percent of Systemix, a cell-therapy firm, and four years later, Sandoz acquired Genetic Therapy Inc., for $295 million. See Business Week (2 Mar. 1992): 69, 73. Bio/Technology (Sept. 1995): 945-47. The financial problems of the biotech firms once again created conditions that favored large pharmaceutical companies seeking alliances of various sorts. See Business Week, 26 Apr. 1993, 86; and Investors Business Daily, 2 Dec. 1993. On Schering AG's acquisition of Codon and Triton Biosciences through its U.S. subsidiary (Berlex Laboratories), see Williams et al., "Biotechnology in the Drug Discovery Process," Medicinal Research Reviews 13:4 (1993): 431-35.
123. The Swiss firm Ciba-Geigy adopted the Roche strategy in 1994, acquiring Chiron for $2.1 billion. Wall Street Journal, 9 Dec. 1994, 2. Bio/Technology (Feb. 1996): 135. The Ciba-Geigy-Chiron relationship began with a series of joint ventures, and the Swiss firm also established biotech research programs in Basle and in North Carolina at the Research Triangle Park. Bio/Technology (Feb. 1987): 122, 124; (June 1987): 530. The acquisitions continued. American Home Products bought 60 percent of Genetics Institute, Inc. In 1991, Sandoz (Switzerland) bought 60 percent of Systemix, a cell-therapy firm, and four years later, Sandoz acquired Genetic Therapy Inc., for $295 million. See Business Week (2 Mar. 1992): 69, 73. Bio/Technology (Sept. 1995): 945-47. The financial problems of the biotech firms once again created conditions that favored large pharmaceutical companies seeking alliances of various sorts. See Business Week, 26 Apr. 1993, 86; and Investors Business Daily, 2 Dec. 1993. On Schering AG's acquisition of Codon and Triton Biosciences through its U.S. subsidiary (Berlex Laboratories), see Williams et al., "Biotechnology in the Drug Discovery Process," Medicinal Research Reviews 13:4 (1993): 431-35.
124. The distinction between proteins and small molecule drugs was important. The former could only be given to patients by injection; the latter could in most cases be taken orally. For patients as well as the pharmaceutical firms, this was a significant difference.
125. For an exploration of these issues, see Ashish Arora, "Evaluating technological information and utilizing it," Journal of Economic Behavior and Organization 24 (1994): 91-114. It was also necessary for pharmaceutical companies to have substantial capabilities in order to sift out the many proposals for collaboration that they received from biotechs. Chemical Marketing Reporter, 8 Apr. 1996, 18. By 1996, Merck was receiving about four to five hundred such proposals every year; Eli Lilly received about two thousand a year (of which twenty resulted in collaboration). For a thorough analysis of the impact of these changes on process development in pharmaceuticals, see Gary P. Pisano, The Development Factory: Unlocking the Potential of Process Innovation (Boston, 1997).
126. For an exploration of these issues, see Ashish Arora, "Evaluating technological information and utilizing it," Journal of Economic Behavior and Organization 24 (1994): 91-114. It was also necessary for pharmaceutical companies to have substantial capabilities in order to sift out the many proposals for collaboration that they received from biotechs. Chemical Marketing Reporter, 8 Apr. 1996, 18. By 1996, Merck was receiving about four to five hundred such proposals every year; Eli Lilly received about two thousand a year (of which twenty resulted in collaboration). For a thorough analysis of the impact of these changes on process development in pharmaceuticals, see Gary P. Pisano, The Development Factory: Unlocking the Potential of Process Innovation (Boston, 1997).
127. For an exploration of these issues, see Ashish Arora, "Evaluating technological information and utilizing it," Journal of Economic Behavior and Organization 24 (1994): 91-114. It was also necessary for pharmaceutical companies to have substantial capabilities in order to sift out the many proposals for collaboration that they received from biotechs. Chemical Marketing Reporter, 8 Apr. 1996, 18. By 1996, Merck was receiving about four to five hundred such proposals every year; Eli Lilly received about two thousand a year (of which twenty resulted in collaboration). For a thorough analysis of the impact of these changes on process development in pharmaceuticals, see Gary P. Pisano, The Development Factory: Unlocking the Potential of Process Innovation (Boston, 1997).
128. "More Deals than Ever," Scrip Magazine (Jan. 1996): 44-46, lists the mergers, acquisitions, alliances and collaborations for 1995. See also Longman and Roche, "Biotech Deals by the Numbers."
129. "More Deals than Ever," Scrip Magazine (Jan. 1996): 44-46, lists the mergers, acquisitions, alliances and collaborations for 1995. See also Longman and Roche, "Biotech Deals by the Numbers."
130. K. H. George, "US Biotechnology United," Trends in Biotechnology 6 (1993): 221-22. There had been a distinct upward trend in the number of licensing agreements and acquisitions in the late 1980s and early 1990s. By 1992, there were 215 alliances between biotechs and pharmaceutical companies.
131. Ibid., 220-21.
132. The Boston Consulting Group, Inc., "The Contribution of Pharmaceutical Companies: What's at Stake for America" (Sept. 1993): 110.
133. This was true despite the increased spending on R&D by pharmaceutical companies. Hospitals & Health Networks, 20 Mar. 1996, 12. For a list of "Products in the U.S. Pipeline" in 1991, see Bio/Technology (Oct. 1991): 947-49. For a similar list as of the end of 1992, see John P. Santell, "Projecting Future Drug Expenditures - 1994," American Journal of Hospital Pharmacy, 15 Jan. 1994, 183. For a list of the top ten biotech drugs as of 1995 (in U.S. sales), see Bio/Technology (July 1995): 649. See also
134. This was true despite the increased spending on R&D by pharmaceutical companies. Hospitals & Health Networks, 20 Mar. 1996, 12. For a list of "Products in the U.S. Pipeline" in 1991, see Bio/Technology (Oct. 1991): 947-49. For a similar list as of the end of 1992, see John P. Santell, "Projecting Future Drug Expenditures - 1994," American Journal of Hospital Pharmacy, 15 Jan. 1994, 183. For a list of the top ten biotech drugs as of 1995 (in U.S. sales), see Bio/Technology (July 1995): 649. See also Pharmaceutical Research and Manufacturers of America, "1996 Survey: 284 Biotechnology Products in Testing," and "Approved Biotechnology Drugs and Vaccines"; J. Drews, "Intent and Coincidence in Pharmaceutical Discovery," Arzneimittel-forschung/Drug Research 45:8 (1995): 934-39.
135. This was true despite the increased spending on R&D by pharmaceutical companies. Hospitals & Health Networks, 20 Mar. 1996, 12. For a list of "Products in the U.S. Pipeline" in 1991, see Bio/Technology (Oct. 1991): 947-49. For a similar list as of the end of 1992, see John P. Santell, "Projecting Future Drug Expenditures - 1994," American Journal of Hospital Pharmacy, 15 Jan. 1994, 183. For a list of the top ten biotech drugs as of 1995 (in U.S. sales), see Bio/Technology (July 1995): 649. See also Pharmaceutical Research and Manufacturers of America, "1996 Survey: 284 Biotechnology Products in Testing," and "Approved Biotechnology Drugs and Vaccines"; J. Drews, "Intent and Coincidence in Pharmaceutical Discovery," Arzneimittel-forschung/Drug Research 45:8 (1995): 934-39.
136. This was true despite the increased spending on R&D by pharmaceutical companies. Hospitals & Health Networks, 20 Mar. 1996, 12. For a list of "Products in the U.S. Pipeline" in 1991, see Bio/Technology (Oct. 1991): 947-49. For a similar list as of the end of 1992, see John P. Santell, "Projecting Future Drug Expenditures - 1994," American Journal of Hospital Pharmacy, 15 Jan. 1994, 183. For a list of the top ten biotech drugs as of 1995 (in U.S. sales), see Bio/Technology (July 1995): 649. See also Pharmaceutical Research and Manufacturers of America, "1996 Survey: 284 Biotechnology Products in Testing," and "Approved Biotechnology Drugs and Vaccines"; J. Drews, "Intent and Coincidence in Pharmaceutical Discovery," Arzneimittel-forschung/Drug Research 45:8 (1995): 934-39.
137. This was true despite the increased spending on R&D by pharmaceutical companies. Hospitals & Health Networks, 20 Mar. 1996, 12. For a list of "Products in the U.S. Pipeline" in 1991, see Bio/Technology (Oct. 1991): 947-49. For a similar list as of the end of 1992, see John P. Santell, "Projecting Future Drug Expenditures - 1994," American Journal of Hospital Pharmacy, 15 Jan. 1994, 183. For a list of the top ten biotech drugs as of 1995 (in U.S. sales), see Bio/Technology (July 1995): 649. See also Pharmaceutical Research and Manufacturers of America, "1996 Survey: 284 Biotechnology Products in Testing," and "Approved Biotechnology Drugs and Vaccines"; J. Drews, "Intent and Coincidence in Pharmaceutical Discovery," Arzneimittel-forschung/Drug Research 45:8 (1995): 934-39.
138. This was true despite the increased spending on R&D by pharmaceutical companies. Hospitals & Health Networks, 20 Mar. 1996, 12. For a list of "Products in the U.S. Pipeline" in 1991, see Bio/Technology (Oct. 1991): 947-49. For a similar list as of the end of 1992, see John P. Santell, "Projecting Future Drug Expenditures - 1994," American Journal of Hospital Pharmacy, 15 Jan. 1994, 183. For a list of the top ten biotech drugs as of 1995 (in U.S. sales), see Bio/Technology (July 1995): 649. See also Pharmaceutical Research and Manufacturers of America, "1996 Survey: 284 Biotechnology Products in Testing," and "Approved Biotechnology Drugs and Vaccines"; J. Drews, "Intent and Coincidence in Pharmaceutical Discovery," Arzneimittel-forschung/Drug Research 45:8 (1995): 934-39.
139. Tefko Saracevic and Martin Kesselman, "Trends in Biotechnology Information and Networks: Implications for Policy," in Biotechnology: R&D Trends, ed. George T. Tzotzos (New York, 1993), 135-44. Diane Gershon, "The Boom in Bioinformatics," Nature, 18 May 1995, 262. Also, W. Bains, "Bioinformatics in Europe - The Federation Strikes Back," Trends in Biotechnology 6 (1993): 217. By the mid-1990s, the new technologies of combinatorial chemistry and high throughput screening were also changing the information landscape in drug discovery. Combinatorial chemistry enabled researchers "to make a large number of chemical variants all at 1 time, to test them for bioactivity (binding with a specific target or other functional property), and to isolate and identify the most promising compounds for further development." Donald F. Phillips, "Making New Drugs via Combinatorial Chemistry," JAMA, 6 June 1996, 1624-26. Also, Robert F. Service, "Combinatorial Chemistry Hits the Drug Market," Science, 31 May 1996, 1266-68; Aris Persidis, "Enabling Technologies and the Business of Science,"
140. Tefko Saracevic and Martin Kesselman, "Trends in Biotechnology Information and Networks: Implications for Policy," in Biotechnology: R&D Trends, ed. George T. Tzotzos (New York, 1993), 135-44. Diane Gershon, "The Boom in Bioinformatics," Nature, 18 May 1995, 262. Also, W. Bains, "Bioinformatics in Europe - The Federation Strikes Back," Trends in Biotechnology 6 (1993): 217. By the mid-1990s, the new technologies of combinatorial chemistry and high throughput screening were also changing the information landscape in drug discovery. Combinatorial chemistry enabled researchers "to make a large number of chemical variants all at 1 time, to test them for bioactivity (binding with a specific target or other functional property), and to isolate and identify the most promising compounds for further development." Donald F. Phillips, "Making New Drugs via Combinatorial Chemistry," JAMA, 6 June 1996, 1624-26. Also, Robert F. Service, "Combinatorial Chemistry Hits the Drug Market," Science, 31 May 1996, 1266-68; Aris Persidis, "Enabling Technologies and the Business of Science,"
141. Tefko Saracevic and Martin Kesselman, "Trends in Biotechnology Information and Networks: Implications for Policy," in Biotechnology: R&D Trends, ed. George T. Tzotzos (New York, 1993), 135-44. Diane Gershon, "The Boom in Bioinformatics," Nature, 18 May 1995, 262. Also, W. Bains, "Bioinformatics in Europe - The Federation Strikes Back," Trends in Biotechnology 6 (1993): 217. By the mid-1990s, the new technologies of combinatorial chemistry and high throughput screening were also changing the information landscape in drug discovery. Combinatorial chemistry enabled researchers "to make a large number of chemical variants all at 1 time, to test them for bioactivity (binding with a specific target or other functional property), and to isolate and identify the most promising compounds for further development." Donald F. Phillips, "Making New Drugs via Combinatorial Chemistry," JAMA, 6 June 1996, 1624-26. Also, Robert F. Service, "Combinatorial Chemistry Hits the Drug Market," Science, 31 May 1996, 1266-68; Aris Persidis, "Enabling Technologies and the Business of Science,"
142. Tefko Saracevic and Martin Kesselman, "Trends in Biotechnology Information and Networks: Implications for Policy," in Biotechnology: R&D Trends, ed. George T. Tzotzos (New York, 1993), 135-44. Diane Gershon, "The Boom in Bioinformatics," Nature, 18 May 1995, 262. Also, W. Bains, "Bioinformatics in Europe - The Federation Strikes Back," Trends in Biotechnology 6 (1993): 217. By the mid-1990s, the new technologies of combinatorial chemistry and high throughput screening were also changing the information landscape in drug discovery. Combinatorial chemistry enabled researchers "to make a large number of chemical variants all at 1 time, to test them for bioactivity (binding with a specific target or other functional property), and to isolate and identify the most promising compounds for further development." Donald F. Phillips, "Making New Drugs via Combinatorial Chemistry," JAMA, 6 June 1996, 1624-26. Also, Robert F. Service, "Combinatorial Chemistry Hits the Drug Market," Science, 31 May 1996, 1266-68; Aris Persidis, "Enabling Technologies and the Business of Science,"
143. Tefko Saracevic and Martin Kesselman, "Trends in Biotechnology Information and Networks: Implications for Policy," in Biotechnology: R&D Trends, ed. George T. Tzotzos (New York, 1993), 135-44. Diane Gershon, "The Boom in Bioinformatics," Nature, 18 May 1995, 262. Also, W. Bains, "Bioinformatics in Europe - The Federation Strikes Back," Trends in Biotechnology 6 (1993): 217. By the mid-1990s, the new technologies of combinatorial chemistry and high throughput screening were also changing the information landscape in drug discovery. Combinatorial chemistry enabled researchers "to make a large number of chemical variants all at 1 time, to test them for bioactivity (binding with a specific target or other functional property), and to isolate and identify the most promising compounds for further development." Donald F. Phillips, "Making New Drugs via Combinatorial Chemistry," JAMA, 6 June 1996, 1624-26. Also, Robert F. Service, "Combinatorial Chemistry Hits the Drug Market," Science, 31 May 1996, 1266-68; Aris Persidis, "Enabling Technologies and the Business of Science,"
144. Tefko Saracevic and Martin Kesselman, "Trends in Biotechnology Information and Networks: Implications for Policy," in Biotechnology: R&D Trends, ed. George T. Tzotzos (New York, 1993), 135-44. Diane Gershon, "The Boom in Bioinformatics," Nature, 18 May 1995, 262. Also, W. Bains, "Bioinformatics in Europe - The Federation Strikes Back," Trends in Biotechnology 6 (1993): 217. By the mid-1990s, the new technologies of combinatorial chemistry and high throughput screening were also changing the information landscape in drug discovery. Combinatorial chemistry enabled researchers "to make a large number of chemical variants all at 1 time, to test them for bioactivity (binding with a specific target or other functional property), and to isolate and identify the most promising compounds for further development." Donald F. Phillips, "Making New Drugs via Combinatorial Chemistry," JAMA, 6 June 1996, 1624-26. Also, Robert F. Service, "Combinatorial Chemistry Hits the Drug Market," Science, 31 May 1996, 1266-68; Aris Persidis, "Enabling Technologies and the Business of Science,"
145. Michael L. West and David P. Fairlie, "Targeting HIV-1 Protease: A Test of Drug-Design Methodologies," TiPS 16 (Feb. 1995): 67-74. Agouron, a biotech, has developed a fourth protease inhibitor that the FDA licensed for marketing in the United States in 1997. Agouron's experience typifies the type of cooperative innovation process that has become common in this industry. In bringing Viracept (nelfinavir) to market, Agouron received substantial financial support from Japan Tobacco and regulatory and marketing support from Roche.
146. Jonathan Greer, John W. Erickson, John J. Baldwin, and Michael D. Varney, "Application of the Three-Dimensional Structures of Protein Target Molecules in Structure-Based Drug Design," Journal of Medicinal Chemistry, 15 Apr. 1994, 1035-54. Noel A. Roberts and Sally Redshaw, "Discovery and Development of the HIV Proteinase Inhibitor Ro 31-8959," in The Search for Antiviral Drugs, eds. Vincent J. Merluzzi and Julian Adams (Boston, 1993), 129-51. Bennett M. Shapiro, "Biotechnology and Drug Discovery at Merck," address to the World Chemical Congress (San Diego, Calif., Sept. 1992). For a somewhat different interpretation of the relationship between biotechnology and the other biomedical sciences, see Pisano, The Development Factory, 69.
147. Jonathan Greer, John W. Erickson, John J. Baldwin, and Michael D. Varney, "Application of the Three-Dimensional Structures of Protein Target Molecules in Structure-Based Drug Design," Journal of Medicinal Chemistry, 15 Apr. 1994, 1035-54. Noel A. Roberts and Sally Redshaw, "Discovery and Development of the HIV Proteinase Inhibitor Ro 31-8959," in The Search for Antiviral Drugs, eds. Vincent J. Merluzzi and Julian Adams (Boston, 1993), 129-51. Bennett M. Shapiro, "Biotechnology and Drug Discovery at Merck," address to the World Chemical Congress (San Diego, Calif., Sept. 1992). For a somewhat different interpretation of the relationship between biotechnology and the other biomedical sciences, see Pisano, The Development Factory, 69.
148. Jonathan Greer, John W. Erickson, John J. Baldwin, and Michael D. Varney, "Application of the Three-Dimensional Structures of Protein Target Molecules in Structure-Based Drug Design," Journal of Medicinal Chemistry, 15 Apr. 1994, 1035-54. Noel A. Roberts and Sally Redshaw, "Discovery and Development of the HIV Proteinase Inhibitor Ro 31-8959," in The Search for Antiviral Drugs, eds. Vincent J. Merluzzi and Julian Adams (Boston, 1993), 129-51. Bennett M. Shapiro, "Biotechnology and Drug Discovery at Merck," address to the World Chemical Congress (San Diego, Calif., Sept. 1992). For a somewhat different interpretation of the relationship between biotechnology and the other biomedical sciences, see Pisano, The Development Factory, 69.
149. Jonathan Greer, John W. Erickson, John J. Baldwin, and Michael D. Varney, "Application of the Three-Dimensional Structures of Protein Target Molecules in Structure-Based Drug Design," Journal of Medicinal Chemistry, 15 Apr. 1994, 1035-54. Noel A. Roberts and Sally Redshaw, "Discovery and Development of the HIV Proteinase Inhibitor Ro 31-8959," in The Search for Antiviral Drugs, eds. Vincent J. Merluzzi and Julian Adams (Boston, 1993), 129-51. Bennett M. Shapiro, "Biotechnology and Drug Discovery at Merck," address to the World Chemical Congress (San Diego, Calif., Sept. 1992). For a somewhat different interpretation of the relationship between biotechnology and the other biomedical sciences, see Pisano, The Development Factory, 69.
150. Bio/Technology 5 (July 1987): 658; and (Nov. 1987): 1118. David T. Karzon, Dani P. Bolognesi, and Wayne C. Koff, "Development of a vaccine for the prevention of AIDS, a critical appraisal," Vaccine 10:14 (1992): 1039-52. Emilio A. Emini et al., "Antibody-Mediated
151. Bio/Technology 5 (July 1987): 658; and (Nov. 1987): 1118. David T. Karzon, Dani P. Bolognesi, and Wayne C. Koff, "Development of a vaccine for the prevention of AIDS, a critical appraisal," Vaccine 10:14 (1992): 1039-52. Emilio A. Emini et al., "Antibody-Mediated
152. Bio/Technology 5 (July 1987): 658; and (Nov. 1987): 1118. David T. Karzon, Dani P. Bolognesi, and Wayne C. Koff, "Development of a vaccine for the prevention of AIDS, a critical appraisal," Vaccine 10:14 (1992): 1039-52. Emilio A. Emini et al., "Antibody-Mediated
153. In a more formal analysis, this figure would be reduced by the revenue lost when large pharmaceutical firms shifted resources from the pre-biotech drugs in their pipelines. The companies would also have incurred more risk, esp. in the mid-1970s. See also Marilyn E. Gosse and Michael Manocchi, "The First Biopharmaceuticals Approved in the United States: 1980-1994," Drug Information Journal 30 (1996), 991-1001;
154. and New Biotechnology Drugs in Development: 1998 Survey (Washington, D.C., 1998), lists the fifty-four drugs and vaccines cleared for U.S. marketing by the FDA through 1997.
155. On this point, see Rebecca Henderson and Iain Cockburn, "Scale, Scope, and Spillovers: The Determinants of Research Productivity in Drug Discovery," Rand Journal of Economics 27 (Spring 1996): 32-59.
156. By 1995, Nature Biotechnology estimated that pharmaceutical companies were spending about $3.5 billion to acquire biotechs, approximately $1.6 billion for R&D or licensing agreements with biotechs, and from $1.2 to $7.5 billion on in-house biotech R&D. Sylvia Davidson, "Hidden Biotechnology Worth over $7.5 Billion a Year," Nature Biotechnology 14 (May 1996): 564.
157. Elizabeth Hefti, "Pharmaceutical Investment in Biotechnology: Trends, Issues, and Strategies," Spectrum, 30 Mar. 1995, 3-5. On the hard times, see: Scrip, 28 Sept. 1993, 17; Alice M. Sapienza, "The Dilemma of Biotechnology," Drug Development Research 29 (1993): 171-78; and Marion Leopold, "The Commercialization of Biotechnology: The Shifting Frontier," in Biotechnology: R&D Trends, ed. Tzotzos, 214-31. The U.S. market for biotech stocks did not begin to recover until 1995-1996. Fortune, 1 Apr. 1996, 40.
158. Elizabeth Hefti, "Pharmaceutical Investment in Biotechnology: Trends, Issues, and Strategies," Spectrum, 30 Mar. 1995, 3-5. On the hard times, see: Scrip, 28 Sept. 1993, 17; Alice M. Sapienza, "The Dilemma of Biotechnology," Drug Development Research 29 (1993): 171-78; and Marion Leopold, "The Commercialization of Biotechnology: The Shifting Frontier," in Biotechnology: R&D Trends, ed. Tzotzos, 214-31. The U.S. market for biotech stocks did not begin to recover until 1995-1996. Fortune, 1 Apr. 1996, 40.
159. Elizabeth Hefti, "Pharmaceutical Investment in Biotechnology: Trends, Issues, and Strategies," Spectrum, 30 Mar. 1995, 3-5. On the hard times, see: Scrip, 28 Sept. 1993, 17; Alice M. Sapienza, "The Dilemma of Biotechnology," Drug Development Research 29 (1993): 171-78; and Marion Leopold, "The Commercialization of Biotechnology: The Shifting Frontier," in Biotechnology: R&D Trends, ed. Tzotzos, 214-31. The U.S. market for biotech stocks did not begin to recover until 1995-1996. Fortune, 1 Apr. 1996, 40.
160. Elizabeth Hefti, "Pharmaceutical Investment in Biotechnology: Trends, Issues, and Strategies," Spectrum, 30 Mar. 1995, 3-5. On the hard times, see: Scrip, 28 Sept. 1993, 17; Alice M. Sapienza, "The Dilemma of Biotechnology," Drug Development Research 29 (1993): 171-78; and Marion Leopold, "The Commercialization of Biotechnology: The Shifting Frontier," in Biotechnology: R&D Trends, ed. Tzotzos, 214-31. The U.S. market for biotech stocks did not begin to recover until 1995-1996. Fortune, 1 Apr. 1996, 40.
161. Elizabeth Hefti, "Pharmaceutical Investment in Biotechnology: Trends, Issues, and Strategies," Spectrum, 30 Mar. 1995, 3-5. On the hard times, see: Scrip, 28 Sept. 1993, 17; Alice M. Sapienza, "The Dilemma of Biotechnology," Drug Development Research 29 (1993): 171-78; and Marion Leopold, "The Commercialization of Biotechnology: The Shifting Frontier," in Biotechnology: R&D Trends, ed. Tzotzos, 214-31. The U.S. market for biotech stocks did not begin to recover until 1995-1996. Fortune, 1 Apr. 1996, 40.
162. See also Ann M. Thayer, "Market, Investor Attitudes Challenge Developers of Biopharmaceuticals," Chemical & Engineering News, 12 Aug. 1996, 13-21.