When GN Hearing’s research and development unit missed several important deadlines last year, there were consequences.
Two launches had to be delayed, a guidance downgrade proved necessary, and the company parted ways with former head of R&D Pär Thuresson due to ”restructuring” of the team.
R&D was to be ”transformed” to increase predictability, and a focus on quality and efficiency became the new reality.
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In 2015, Genmab partnered with relatively unknown biotech firm Biontech. Reflecting on how far Genmab has come since, CEO Jan van de Winkel is still confident that partnerships, rather than acquisitions, are the way forward. If it had acquired Biontech at the time, the CEO speculates Genmab may have put a stop to other activities – including the Covid-19 vaccine efforts that went on to save millions of lives. This and fairness are worth remembering as biotech firms are increasingly strapped for cash, van de Winkel reflects.