Final Case - Albion Biotech Corporation

Final Case - Albion Biotech Corporation - Albion Biotech...

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Albion Biotech Corporation Albion Biotech has been credited as the firm that will revolutionize the biotech industry by combining molecular biology with nano-technology. It employs over 700 people with over 150 having degrees and a quarter of these holding PhDs. Stock options, which the company gives to all of its employees who have been with the company for more than two years, have made many very wealthy, at least on paper. However, most would tell you it’s not the money that motivates them, but the science. With over 130 top journal articles to their names, its scientists are collectively more productive than any single university biotech department in the world. Unusually for the industry, Albion Biotech encourages its employees to spend at least 15% of their time working on new projects and a further 10% on academic reading and article writing; most firms suggest their scientists spend not more than 15% of their time in total working on projects not specifically related to the core business. Albion Biotech has just completed clinical trials on a new drug to treat acute myeloid leukemia (AML), a serious blood disorder for which the prognosis has hitherto been relatively poor. Chemotherapy, the treatment used to date, has not proved particularly effective, is extremely expensive and has a wide range of serious and debilitating side-effects. The company’s new ‘genetically engineered’ drug sailed though clinical trials in record time, proving three times as effective as chemotherapy without any of the deleterious side-effects of chemotherapy. No only has the firm developed this new drug for treating AML (the product of several years
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This note was uploaded on 09/08/2010 for the course BUS 189 at San Jose State.

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Final Case - Albion Biotech Corporation - Albion Biotech...

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