This is the third in a series of seven common entrepreneurial mistakes, and how to fix them. Although the context will be biotech entrepreneurs, these principles apply to all entrepreneurs. A third common mistake of entrepreneurs is that as they [...]
What is the first thing a biotech entrepreneur should do when thinking about formally starting their company??? One of the first things is to talk with an experienced attorney who has worked with start-up biotechnology companies. Too many entrepreneurs say they [...]
Most would-be entrepreneurs believe that they will one day start a company, however they usually don’t know how. Starting a company cannot be haphazard. Beginning a company requires significant planning and many events must simultaneously converge in order to be [...]
When starting a company, it is absolutely essential to find a good attorney experienced in biotechnology start-ups! Yes, there are boilerplate forms you can use for most every type of document, which can be found on the internet — sometimes free. However, remember you are paying for expertise and sound advice, therefore, find someone you can work with that has plenty of experience in the biotechnology industry.
Discouraging news was announced about the unlawful practices of Pfizer in marketing its drugs to physician's using free golf, massages, and resort junkets, along with promoting off-label uses for several of their drugs (read complete story). The Justice Department said that Pfizer's sales people created sham requests from physicians asking about unapproved drug uses and then the company mailed the information to doctors. This $2.3 billion settlement is the largest ever paid by a drug company.