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Pharmaceutical Strategic Alliances: Sharing and Optimizing Risk

Executive Summary

If there was an overriding theme at this year's PSA, it was the search for balance of risk in pharma-biotech collaborations. PSA also showcased Big Pharma's efforts to expand in large molecules, and its attempts to dilute risk internally, by adopting the strategic habits of biotech companies.

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Just one year ago, Bristol-Myers Squibb's days as an independent entity seemed numbered. But thanks to the resolution of the Plavix crisis, innovative deal-making, and an R&D pipeline surging with specialty-focused products, the company is now thriving. In a free-wheeling Q&A, Bristol's R&D gurus, Francis Cuss and Elliott Sigal, discuss the need for a new kind of biopharma that is specialty-focused and technology agnostic.

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