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This Biotech Would Rather Buy Experimental Cancer Drugs Than Develop Them
By: Minyanville Headlines
Posted on February 17, 2012 at 08:40 AM EST
Rajesh Shrotriya is a biotech CEO who has a much different view on developing promising new drugs than many of his rivals. “The whole world is our laboratory ” the chief executive of Spectrum Pharmaceuticals (SPPI) says. What he means is that he has no interest in spending money to experiment on laboratory mice in hopes of finding new treatments. Shrotriya would rather send his business development team out to find other companies’ experimental drugs -- specifically cancer treatments -- that Spectrum can buy for bargain prices. “We look for diamonds in the rough ” he says. Shrotriya’s business ...
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Related Stocks:
Allergan, Inc. Biogen Idec, Inc. Bristol-Myers Squibb Co.
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