Tuesday, September 7, 1999
Recapitulating Back to Basics
As context for this year's report, last year's Back-to-School report focused on key benchmarks for accomplishing sustainability and scale at the corporate level (see Back to Basics, Sept. 8, 1998):
• The ability to reach significant market valuations.
• A product focus.
• A technology or technologies capable of producing multiple products.
• A longitudinally complete pipeline with no significant gaps between Phase III and preclinical compounds.
• An R&D process focused on developing real products for real medical needs.
• A deep management team.
• A financing plan that is realistic with respect to the amount of capital that will be required over time.
• A profit plan that plausibly layers income over a relevant timeframe to show how profitability, viability and long-term growth can be achieved.