University of Hertfordshire

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Bio-pharma: a financialized business model

Research output: Contribution to journalArticlepeer-review

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Bio-pharma: a financialized business model. / Andersson, T.; Gleadle, P.; Haslam, C.; Tsitsianis, N.

In: Critical Perspectives on Accounting, Vol. 21, No. 7, 2010, p. 631-641.

Research output: Contribution to journalArticlepeer-review

Harvard

Andersson, T, Gleadle, P, Haslam, C & Tsitsianis, N 2010, 'Bio-pharma: a financialized business model', Critical Perspectives on Accounting, vol. 21, no. 7, pp. 631-641. https://doi.org/10.1016/j.cpa.2010.06.006

APA

Andersson, T., Gleadle, P., Haslam, C., & Tsitsianis, N. (2010). Bio-pharma: a financialized business model. Critical Perspectives on Accounting, 21(7), 631-641. https://doi.org/10.1016/j.cpa.2010.06.006

Vancouver

Author

Andersson, T. ; Gleadle, P. ; Haslam, C. ; Tsitsianis, N. / Bio-pharma: a financialized business model. In: Critical Perspectives on Accounting. 2010 ; Vol. 21, No. 7. pp. 631-641.

Bibtex

@article{4ed25fd5558947cebf87b05acccdb9e7,
title = "Bio-pharma: a financialized business model",
abstract = "In this paper, we construct a complementary financialized business model of SME bio-pharma that reveals how the product innovation and development process conjoins with speculative forces in capital markets. To conceptualise this descriptive business model we employ three organising elements: narratives about pipeline progress that may (or may not) lead to additional funding from equity investors or other investing partners, capital market conditions that impact on the supply of funding and market valuations and the variable motivations of equity investors who are not in a development marathon but a relay race anxious to pass on ownership and extract higher returns on invested capital through realised market value. Bio-pharmas are, in effect, constituted as investment portfolios of innovations where products in pipeline and firms trade for shareholder value. In this speculative innovation, capital market liquidity business model complementary narratives and favourable capital market conditions are required to keep it all going.",
author = "T. Andersson and P. Gleadle and C. Haslam and N. Tsitsianis",
note = "Original article can be found at: http://www.sciencedirect.com/science/journal/10452354 Copyright Elsevier Ltd.",
year = "2010",
doi = "10.1016/j.cpa.2010.06.006",
language = "English",
volume = "21",
pages = "631--641",
journal = "Critical Perspectives on Accounting",
issn = "1045-2354",
publisher = "Academic Press Inc.",
number = "7",

}

RIS

TY - JOUR

T1 - Bio-pharma: a financialized business model

AU - Andersson, T.

AU - Gleadle, P.

AU - Haslam, C.

AU - Tsitsianis, N.

N1 - Original article can be found at: http://www.sciencedirect.com/science/journal/10452354 Copyright Elsevier Ltd.

PY - 2010

Y1 - 2010

N2 - In this paper, we construct a complementary financialized business model of SME bio-pharma that reveals how the product innovation and development process conjoins with speculative forces in capital markets. To conceptualise this descriptive business model we employ three organising elements: narratives about pipeline progress that may (or may not) lead to additional funding from equity investors or other investing partners, capital market conditions that impact on the supply of funding and market valuations and the variable motivations of equity investors who are not in a development marathon but a relay race anxious to pass on ownership and extract higher returns on invested capital through realised market value. Bio-pharmas are, in effect, constituted as investment portfolios of innovations where products in pipeline and firms trade for shareholder value. In this speculative innovation, capital market liquidity business model complementary narratives and favourable capital market conditions are required to keep it all going.

AB - In this paper, we construct a complementary financialized business model of SME bio-pharma that reveals how the product innovation and development process conjoins with speculative forces in capital markets. To conceptualise this descriptive business model we employ three organising elements: narratives about pipeline progress that may (or may not) lead to additional funding from equity investors or other investing partners, capital market conditions that impact on the supply of funding and market valuations and the variable motivations of equity investors who are not in a development marathon but a relay race anxious to pass on ownership and extract higher returns on invested capital through realised market value. Bio-pharmas are, in effect, constituted as investment portfolios of innovations where products in pipeline and firms trade for shareholder value. In this speculative innovation, capital market liquidity business model complementary narratives and favourable capital market conditions are required to keep it all going.

U2 - 10.1016/j.cpa.2010.06.006

DO - 10.1016/j.cpa.2010.06.006

M3 - Article

VL - 21

SP - 631

EP - 641

JO - Critical Perspectives on Accounting

JF - Critical Perspectives on Accounting

SN - 1045-2354

IS - 7

ER -