Biopharma in 2008: What a Difference an Economic Crisis Makes

Even before the financial meltdown, 2008 was a remodeling year for the biopharmaceutical world. Many pharma companies, more reliant on the product candidates and technologies of the biotech world than ever, were pinned down by excess infrastructure and lagging productivity. But when the world's cash dried up, so, too, did biotech's leverage over those downtrodden in-licensers and acquirers. We highlight some top trends from a difficult year that may shape industry in 2009 and beyond.