From the title, this book seems like a social pitch to get on the biotech bandwagon. However, its central point doesn’t address social policy or health policy. Rather, it’s a pitch for investors – particularly in Europe – to invest to create a biotech industry on that side of the Atlantic. Andrew Craig points out that the scientific infrastructure is strong, particularly with England’s Oxbridge, but the ability to translate insights and knowledge into companies and products is weak.
Most of the book consists of an overly optimistic and highly uncritical spin on the products of the biotech industry. It is exciting to think about all of the potentialities in the marketplace, but he avoids much of the critical thinking, either scientifically or financially. Instead, he appeals to the heart alone and not investors’ heads to build this industry in Europe. That critical mistake hampers the book’s central thesis tremendously.
I enjoyed listening about all that science hopes for and spins to financiers. However, realistically, only a certain percentage of those dreams will come true in the nearer term – an outcome which itself is great, but never voiced by the author. As such, the book seems overly utopian without ascertaining the socially disruptive costs and the inevitably high number of failed products from startups.
Again, this book does provide a strong overview of the biotech industry and explains the investment rationale to succeed in investment. However, the author needs to take off his rose-colored glasses a tad. The biotech industry was not built overnight in the USA after its founding with Genentech around 1980, and it will take perhaps a decade to work out financial challenges in international markets, too. I’m supportive of the cause, hopeful for its global impact, and believe investment will help society and succeed financially. I’m just not willing to imbibe the proverbial Kool Aid as much as the author is.
Our Future is Biotech
By Andrew Craig
Narrated by Andrew Craig
Text copyright (c) 2024
John Murray Business
Audio copyright (c) 2024
John Murray Business
ASIN B0CFZDJ5LL
Length: 9:44
Genre: Business, Investing
www.amazon.com