BioCentury
ARTICLE | Strategy

Less is less

June 28, 1993 7:00 AM UTC

Biotechnology companies, groping for alternatives to the closed financing window, are likely to find partnership deals harder to come by over the next six to 12 months, and with less favorable terms than in the recent past.

The changes are not yet obvious, because the deals now being announced have been in the works for some months. But conversations with licensing executives from 11 pharmaceutical companies indicate that $50 million deals with extensive co-marketing rights will be rarer now than in the heady days of 1991-92, when open-handed investors gave biotech companies more leverage in negotiations...