Why is Biotech in NYC Floundering?

Interesting article in The Scientist about the problems besetting the Biotech sector in NYC.
While acknowledging the city's "lucrative scientific output", the reality is that investments aren't "...yielding as many start-ups as other regions with comparable scientific investment."

Why is this the case?

The answer according to Jonathan Bowles of the Center for an Urban Future, a New York City think tank, "is that 'for a long time [technology transfer offices] put too much emphasis on the blockbuster deal,' ignoring smaller technologies that could have been developed by start-up companies with the help of venture backing"

I find it interest that people are still 'swinging for the fences' and pursuing blockbusters....that strategy really seems somewhat dated in this environment.....

Pfizer's Silence

Pfizer has been very close-lipped about the subject of lab closings and job cuts. Everyone from the Governor of CT to chemists in the lab are on edge.....

Some Good News - Pharma Growing Faster Than Expected

FiercePharma reports here that:

A boost in American insurance will push worldwide drug sales up by 4 percent to 6 percent in 2010, IMS Health predicts. And global growth will continue at a 4 percent to 7 percent clip every year through 2013. Just six months ago, IMS had predicted that U.S. drug sales would fall by 1 percent to 2 percent this year.

It is nice to get some good news.....

Pfizer/Wyeth Site Closings

Derek Lowe comments here on fellow bloggers Eric Milgram's crowd-sourcing approach to which Pfizer /Wyeth sites will be closed.
Milgram's approach is interesting to say the least......

Pharmaceutical Industry Experts Wrong Again!

Recent articles have chronicled the large number of lay-offs that are being experienced in the Pharmaceutical and Biotech Sectors.
FiercePharma had this to say on their website today.

But that is not the whole story.
While it is true that a number of the big firms are downsizing and that some smaller firms are shutting down....My firm seen a large uptick in hiring. While some firms are definitely trying to cut costs in order to deal with their diminished pipelines, other firms are definitely helping to pick up the slack in hiring.

Bottom line - The whole industry is in flux - we are in the midst of a very dynamic time.
But this is still a phenomenal industry to be in....and there are still tremendous opportunities not only in the area of scientific developments....but there are still exist a tremendous number of opportunities that will enable the individual to advance their career.

Years ago the Pharmaceutical industry was being touted as bullet-proof. Major magazines had cover stories where they espoused the theory that the industry was immune to the business cycle. these so-called experts claimed that the industry would continue to experience unparalleled growth with nary a hiccup.

I thought the experts were wrong then.

Now the 'experts' are burying the Pharma industry....now these same experts that years ago called the industry 'bullet-proof' are now sounding its death knell.

The experts are wrong again.

The truth is that there are still tremendous opportunities career-wise in Pharma....And the industry will....once we admittedly go through some more near term pain...emerge much stronger and even more prosperous.

And this is one prediction that will definitely come true.

Are you Single-Minded? Part 2

Labor Day weekend has got me thinking again about the whole concept of work and what makes a person successful. In my last post, I had discussed the importance of single-mindedness.
After I wrote that post, I remembered an article I had read online years ago, In Defense of Workaholism, that did an even better job of of explaining the concept than I did. In the article, the author writes:

"The truth is this: if you want to succeed..., you have to be at least something of a workaholic. No one admits this, but it's true. You need to work hard to establish yourself, to fortify your reputation, to market your services, and to ensure that your clients are happy. The work never stops -- and because of this, you have to keep in close contact with your inner workaholic....Doesn't matter what your gig is, there's almost always a direct correlation between hard work and success. I'm currently on a tour of Europe with the Orpheus Chamber Orchestra, working on a project that should see the light of day by early next year. Each of the musicians comprising the group is an IP -- juggling their Orpheus gigs with all kinds of other projects. Some play for the New York Philharmonic, the American Ballet Theater, or the New York Opera, some teach at Julliard, others do Broadway shows or commercial work, and most do some combination of these. Each of these people is at the pinnacle of the music profession. And, to a person, they all work their posteriors off. They wouldn't be nearly as successful as they are if they sat around playing pinochle half the day, enjoying some mythical "balanced" work life that we're supposed to all aspire to."


Bottom line - if we want to be successful...we need to focus on that goal.

Don't fall for 'The Balanced Life' myth.

And as the old saying goes - "If you try to chase two rabbits, you end up catching neither."

Are you Single-minded?

While the bulk of my posts have focused on developments in the Pharmaceutical industry, I also like to post occasionally on topics related to Career Development.
And along those lines, there is an interesting post here.

We often hear it touted that we should all strive to be well-rounded....that we should work to improve our weaknesses....that we should strive for a balanced life.

David Rendall does not agree with that philosophy. He writes:

"While you are busy diffusing your time and energy broadly in an effort to improve in a variety of different areas, someone else is obsessively developing their strengths and flaunting their weaknesses. They aren't allowing their weaknesses to distract them from focusing on the areas in which they have the greatest potential.

If you want to win, in your career or your business, you need to be singleminded. Don't let your weaknesses and the goal of being well-rounded keep you from a maniacal focus on improving your strengths."

I think his point is valid....Being successful in any one area requires sacrifice....including possibly giving up the pursuit of success in other endeavors.....