ARTICLE | Strategy

Morphing quickly

August 27, 2001 7:00 AM UTC

Just a few weeks ago, Pharmacopeia Inc. sounded like it was giving up the ghost, announcing that its chemistry service business couldn't be sustained and that it was looking for a home for its drug discovery expertise through a joint venture, merger or acquisition. But it didn't take long for PCOP to turn around with an acquisition that will help it integrate both upstream and downstream: Eos Biotechnology Inc. will give PCOP an upstream target discovery capability and an entity with a product focus.

Now that it will be able to develop therapeutics against its own targets, the combined company will continue to seek partnerships for these higher value products. How far it moves downstream from drug discovery will depend on economics and other factors related to each situation...