Updated on 15 May 2012
With these research partnerships, we have made impressive progress. It is important to work with partners because the contract drug discovery partnership business model drives parallel revenue through upfront technology access fees, significant ongoing milestone payments and royalties on successful drugs once they reach the market.
However, we will continue to put in efforts into drug discovery. We follow a business model that balances the internal discovery projects and those with partners. For us, it has been a phase of evolution.
Are you looking at expanding your presence in Asia?
Mr Woolf: We work with many academic and research institutes in the US and Europe. In Asia, we don't have any partnerships as such, but we are looking to build relations with research groups in biotech-focused countries such as Singapore.
Your focus is on developing biologics. What is your view on Asia growing as a destination for biologics?
Mr Woolf: By 2015, half of the drugs approved will be biologics in nature and the market of peptide is also growing. I believe that biologics is emerging as a large-scale business avenue, complemented by small molecule drugs. Asia will be a key destination for developing and manufacturing potential biologics therapeutics. It is well-equipped with talent and GMP-accredited manufacturing facilities. Not only India and China, but other Asian countries are also bound to grow.