Creating and capturing value in the biopharmaceutical sector

Rasmussen, Bruce (2008) Creating and capturing value in the biopharmaceutical sector. PhD thesis, Victoria University.


This study addresses the ongoing implications of the realignment of the pharmaceutical industry knowledge base – from small molecule methods to new biomedical technologies – for the competitive positions of traditional pharmaceutical companies and biopharmaceutical start-ups. The theoretical approach draws on the modern theory of the firm and related concepts, to define and develop the concept of the business model. This is employed to guide the empirical analysis, which utilises a combination of data analyses and case studies based on several sources, including detailed company reports and alliance databases. The thesis analyses how the pharmaceutical companies have successfully adjusted their business models to meet the challenge of biotechnology and so retain their powerful position in the industry. Central to this has been the breadth and depth of knowledge transfer through alliance formation. Not only has this been critical to the adjustment process for the large pharmaceutical companies but also for the development of the many biopharmaceutical start ups. Nonetheless the business models of these smaller companies have many weaknesses, which have led to the erosion of the value of their initial strategic assets. Despite the poor financial performance of the vast majority of these firms, the biopharmaceutical sector as a whole has created significant value. This has been captured disproportionately by a handful of large fully integrated biopharmaceutical firms and, to a lesser extent, by the largest dozen pharmaceutical firms.

Item type Thesis (PhD thesis)
Subjects Historical > RFCD Classification > 340000 Economics
Historical > RFCD Classification > 320000 Medical and Health Sciences
Historical > Faculty/School/Research Centre/Department > Centre for Strategic Economic Studies (CSES)
Keywords pharmaceutical industry, biopharmaceuticals, busines models, knowledge base
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