Biotech company Excelixis CEO George Scangos likes to quote oil wildcatter JP Getty when asked about his philosophy for success: “Get up early; work hard; find oil,” he deadpans.
And under the direction of dry-humored Scangos, the San Francisco-based company is drilling a lot of research holes, so to speak.
They have to: Success in the biotech industry is measured incrementally, not in big steps. It’s a cash-and-time intensive industry where success is painstaking, rare and, because of Obamacare and other regulatory burdens from the administration, likely to become even rarer.
According to Plunkett Research, Ltd in 2010 it...