Former Big Pharma Executives See Gold in Consolidation's Cast-Offs
Top executives from Big Pharmas, like Jan Leschley of SmithKline and Tony Wild of Warner-Lambert, are now taking a run at venture capital--figuring that their rolodexes and understanding of drug-company requirements will give them a big advantage in starting new companies. The question is whether these contacts will be of much help during periods when financing is difficult--that's when real VC experience comes in handy.
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Care Capital's focus on later-stage programs--driven by its ex-Big Pharma partners' own expertise in more advanced development and marketing--happily coincided with the lower-risk, closer-to-market models which have become fashionable with private and public investors since the 2001 downturn. Does this VC firm have the right model at the right time?
The notion of building up a new drug company with the unwanted, undersized products of ever-bigger Big Pharma is hardly new. But MedPointe, with its acquisition of Carter Wallace's medical products business, is aiming to build up a new firm faster and bigger than can be done simply by in-licensing.
The RNA drug’s accelerated approval brings Sarepta’s exon-skipping market share to nearly 30%.