DefinedHealth

Ed Saltzman

The number of legitimate late-stage product opportunities available for licensing with revenue potential attractive to big pharma is startlingly small. As a result, blockbuster patent expirations and barren internal late-stage pipelines continue to provoke a feeding frenzy for any opportunity that clears the bar, often regardless of strategic fit. The result is a “Theatre of the Absurd” production in which hundreds of pharma licensing buyers find themselves forced to play starring roles, squeezed on stage between a handful of increasingly demanding biotech sellers and their own senior management, which continues to ratchet up the pressure to land “The Big One.”