1. Wasting cash—the decline of the British biotech sector.
- Author
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Smith, Graham, Akram, Muhammad Safwan, Redpath, Keith, and Bains, William
- Subjects
- *
BIOTECHNOLOGY industries , *CORPORATE finance , *CORPORATE directors' salaries , *LABOR incentives , *RESOURCE allocation - Abstract
The article assesses the decline of the biotechnology industry in Great Britain. The authors assert that this decline can be attributed to a combination of severe undercapitalization of British companies, overgenerous remuneration to board members and absence of share- or performance-related reward for top executives. Compared to its American counterpart, the British biotechnology industry has no world-class companies in the mold of Amgen, Genentech or Genzyme. British companies also failed to invest their limited resources in product development and innovative therapeutics.
- Published
- 2009
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