Research Back In Fashion

Low risk, no-research approach not a long term strategy... For a while the no-research, development only model has been hot in biotech. After the excessive focus on platforms in the ‘90s, many investors were attracted to this new model of doing business. Even Big Pharma was looking at late stage compounds as a strategy to beef up their pipelines with less risk. Why take the risks associated with internal research programs if in-licensing late stage (and presumably safe) compounds is an option?