Science, Finance and Policy: Britain’s struggle for success in biotechnology
Palestrante: Michael M. Hopkins (Senior Lecturer at the Science Policy Research Unit (SPRU), The School of Business, Management and Economics, University of Sussex)
Resumo: The paper to be presented at the seminar explores the emergence of the UK’s biotech sector from the 1980s onwards. It discuses the problems the UK faced in trying to emulate the success of the US sector – which began to emerge a few years earlier, and policy measures that the UK government took to support the industry. The paper is based on a longitudinal study of the successes and failures of 247 biotech firms founded in the UK, coupled with a review of the possible policy options available and policy measures actually taken to support the industry. The results show how, despite strengths in UK science, a well-established pharmaceutical industry, and a large financial industry, the UK was not able to generate success stories to follow US firms such as Genentech, Amgen, Biogen, Celgene, Gilead – all of which have become multi-product, and multi-billion dollar revenue generators. Although the UK has the second largest biotech sector in the world, it experienced a “lost decade” in terms of attracting financing for the sector – a situation that changed only in 2014. Its leading firms withered or were acquired. The struggles of the UK’s biotech firms to perform well are contrasted with the success of US firms: Key differences are argued to provide an explanation for performance differences: Technical focus, novel institutions, the scale of innovation ecosystems, and the sequence of key events in the emergence of each sector. Policy gaps are identified and implications are discussed for other countries that are would-be imitators of the US.
Download do artigo:
HOPKINS, M. M., CRANE, P. A., NIGHTINGALE, P. & BADEN-FULLER, C. 2013. "Buying big into biotech: scale, financing, and the industrial dynamics of UK biotech, 1980–2009". Industrial and Corporate Change, 22, 903-952. Disponível livremente em: http://icc.oxfordjournals.org/content/22/4/903.abstract (acessado em 17/11/2015)
Moderadora: Profa. Julia Paranhos (IE/UFRJ)