Arm's length operating model: the recipe for a perfect pharma-biotech relationship?
“I think this is the success-model that a lot of people should be paying attention to.”
That is the view of Jeff Hatfield, the chief executive of Vividion, a San Diego-based biotech that was acquired by German life sciences major Bayer (BAYN: DE) last year for an upfront consideration of $1.5 billion and potential success-based milestone payments of up to $500 million.
But rather than Bayer seeking to immediately absorb Vividion, forcing the biotech firm to adopt the processes of its big pharma parent, the relationship between the two partners operates differently.
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