Science Lessons: What the Business of Biotech Taught Me About Management
February 23, 2010 by biotechconnection.com · 5 Comments
- ISBN13: 9781591398615
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Product Description
Widely regarded as the most innovative, successful biotech firm ever, Amgen led its industry in revenue and sales growth in 2007. Top magazines including Fortune and Industry Week have repeatedly named it one of America’s best companies to work for.
In Science Lessons, Gordon Binder–CEO and chairman during 1988-2000–describes Amgen’s climb to success. Revealing the highs and lows it experienced in the race to develop blockbuster drugs, he takes readers from the time Amgen had just three months of capital in the bank and no viable products in the pipeline to its spectacular success. The turning point? The 1989 launch of Epogen, which dramatically helped kidney dialysis patients suffering from debilitating anemia. Other landmark drugs, including Neupogen, would follow.
Through engaging anecdotes and cogent insights, Binder weaves a fascinating tale while offering his unique brand of practical management advice. Using the principals of the scientific method, he shares his recommendations for tackling pressing business challenges–such as managing creative employees, navigating the IPO process, and protecting intellectual property.
This colorful first-person account showcases the visionary science and daring business strategy that made Amgen great–offering valuable lessons for all companies.
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Having completed a stint in BioTech, I wished I had read this book ahead of time.
The book met the goal to share a number of management principles that the CEO’s of Amgen instituted.
One of the chapters that discusses the products they had in the pipeline, is a little difficult to correlate to a management lesson, but if thought about hard enough can be related to an ROI discussion and how one option initially looks costly, but the long run benefit can reap a windfall.
The book is not necessarily a history of Amgen but has enough characteristics for one to ascertain a time line of the company and their success.
The story shares a good primer for those that may need to learn a little bit about patent litigation and the effect it can have on the biotech industry.
I would recommend this book for anyone in the biotech space or for those that are looking for a quick read on creating an organization that has had such great success.
Rating: 4 / 5
Superb job in telling the story of how Amgen as a company, community, and culture evolved. Its strength lies in providing examples of how Amgen’s management team solved tough business problems both within and outside the company; as well as within the bio/pharma industry as a whole. It also discusses the types of managers and business practices that tend to work well in science-based businesses, and how to attract and keep top-notch employees.
Although the book is probably intended for MBA-types, as a non MBA-type, I found it very interesting. The main reason for that is because it explains how Amgen approached common business procedures such as the Initial Public Offering (IPO) process, the FDA drug approval process, and the U.S. patent application process to name a few. If anything, it provided me with a solid basic fundamental business review of how Amgen’s management team went about doing the things they did, and why they chose to do it that way.
Overall, I found this book to be a compelling story that is entertaining, educational and fun all at the same time. I would definitely recommend this book to anyone interested in learning how Amgen, a one-time small biotech company evolved to become one of the most successful biotech companies in the world. Finally, I would like to add that this book is an excellent read. I think anyone who has a genuine interest in the Biotech industry either from a historical or business management perspective, will really enjoy it. I know I did. A five star rating all the way!
Rating: 5 / 5
Former Amgen CEO Gordon Binder recounts his biotech company’s history in clear, articulate prose. He and writer Philip Bashe make the science accessible. They explain technical terms in lay language and spell out the benefits and effects of each biotech advance. Amgen’s story includes inspiring accounts of company-wide dedication and demonstrates the utility of the scientific method as a tactic for making business decisions. Yet, some of the book’s teachings fall a bit flat. Perhaps driven by an urge to make Amgen’s experiences broadly applicable, Binder draws lessons that are so broad in scope that they risk banality and could apply to any industry. That aside, getAbstract recommends this to anyone involved in a start-up and to those who are interested in how companies evolve, change, and succeed.
Rating: 5 / 5
Interesting insight into the biotech industry. Gordon Binder knows his business and is maybe to good at selling his product!.
I like his enthusiasm about science and his trust in the capacity of scientist.
Rating: 4 / 5
Gordon Binder’s Science Lessons demonstrates the efficacy of creating an atmosphere of autonomy and employee ownership in the corporate structure. Mr Binders straightforward corporate philosophy shines in its simplicity and effectuality.
To the layman, ’science” conotates cold, calculating numbers, control groups and petri dishes. Mr Binder brings warmth and humanity to the scientific ascent at Amgen and leaves an indellible impression on the reader.
Science Lessons is a blueprint for the creation of a mission statement for anyone in business. The author has a unique and refreshing approach to management rooted in positive reinforcement and a reverence for autonomy. In a corporate age of maddening bureacracy, Science Lessons is a mandatory read for anyone who manages people.
A utilitarian would marvel at Mr Binder’s results; but, to the contrary, its the means by which he accomplished things that astounds. Science Lessons is refreshing, invigorating and ulimately pragmatic for all readers. Five stars all the way!
Rating: 5 / 5