Strakan: Refining Search & Development

The low-risk specialty pharmaceuticals model has never been more fashionable, in part thanks to the success of one of Europe's in-licensing pioneers, Shire. Shire's founder Harry Stratford is now having another go with Strakan, but incorporating R&D far earlier in Strakan's evolution than has been the case at Shire, thereby attempting to address the thorny question of long-term sustainability-one that Shire and other more mature in-licensing firms are currently grappling with.