NRDO? Not me

While de-risking is currently the hot idea in biotech, the whole concept of in-licensing marketed, late-stage or somehow less risky compounds on top of a research platform is as old as the industry itself. So is making a virtue of a necessity, as biotech CEOs have been quick to adapt to what they believe investors want to hear.

Therefore, it is not surprising that a closer look at the companies presented as paradigms of the de-risked model shows that many, if not most, have internal research programs - even if they are small and are not being emphasized to investors...