TREND:

 

BigPharma's shareholders require higher returns on their investments. In-House Research thus be seen as too great a risk. New innovations sought therefore in the Small segment, which is licensed in the fixed fee+milestone payments and future royalties on sales. A similar scenario is also seen in the Big Med Tech and Big Nutra.Small Pharma's shareholders would also reduce thelevel of risk, so its really early research (preclin+phase1) is sought in Micro segment.

 

FINANANCIAL:

 

The Big-segment financed by shareholders' confidence in its abilityto provide the market with new cash generating innovations.

 

The Small-segment financed by shareholders' confidence in its capacity to generate sufficient competitive innovationsthat attract the right companies in the Big-segment agreement on licensing.

 

Micro-segment financed by private and institutional venture capital with the ambition to develop  sufficiently attractive innovations in the early phase of the contract with the party in the Small- and/or Big-segment.