Sanofi-Aventis has finally succeeded to find his ticket on the main stage of U.S. biotech. But obviously, as there was hardly more space, the group had to empty his wallet. Genzyme is a "big small" a little over 10,000 people and 4 billion dollars in revenue. To put it in his pocket this company ten times smaller than him, the French will pay more than $ 20 billion, five times its revenue. Only in the Internet that can be found ratios also amazing!
There were two reasons: target is particularly true for the excellence of its research and its rarity. There is virtually no market for large biotechnology companies to sell. She had all slipped into the camp of "big pharma", with the exception of Amgen, the only company in the sector to be itself become a giant.
In the end, are not the innovators who are the winners of the battle. That is the paradox of the modern pharmaceutical innovation. Large laboratories, eaten by their techno, paralyzed by the requirement of health authorities and fear of patients, have failed to innovate. Large drug discoveries are behind them and copiers generic front. None of them could lead to large internal technological breakthrough. It came from American universities with biotechnology, chemistry fundamentally different from pharmacists.
Yet, unlike computers, the American Revolution finally falls into the arms of incumbents. The explanation is simple: the costs of development, testing and marketing of drugs have become so high that they constitute a barrier impassable for new entrants and even large laboratories led to merge to grow again. Does this mean a defeat for U.S. industrial policy, which has poured hundreds of billions of dollars in research to show its flagship purchased by French, Swiss or British? Sanofi gives us the answer. A huge purchase price and the promise of a much larger development site in Boston that he will never in France. Over three quarters of the world's medical research now would move next to American universities. Intellectual Capital Relocation is not so easily. Entrepreneurship either.
Conclusion: France (but also Europe) is dropped.
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