Word: biotechs
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...anybody inside or outside the Geneva-based company had doubts about the succession, those doubts quickly disappeared. Under the younger Bertarelli's leadership, Serono has shifted its focus from pharmaceuticals to biotechnology and almost doubled its revenues to $1.5 billion in 2002, making it the world's third largest biotech company after Amgen and Genentech. "My father created a platform, and I launched myself from it," says Bertarelli, now 37. The stake he holds together with his mother and sister is worth about $4.4 billion, placing the Bertarellis among Europe's wealthiest families--and providing Ernesto with more than enough...
...family's journey from Rome in 1906 to GENEVA in the 1970s mirrors its shift from traditional drugmaking to biotech. Three generations of successions make it a most unusual biotech firm...
...Italian nuns. Bertarelli's grandfather took it over after the war, and his father Fabio moved it to Geneva in 1977 and began developing new products, including a human-growth hormone. When Genentech came out with a rival based on recombinant-DNA technology, Bertarelli Sr. began funding his own biotech research. That led to the development of a multiple-sclerosis (MS) drug called Rebif, which last year accounted for 39% of Serono's sales...
...While we have had our fair share of problems with Harvard in the past,” Sullivan said, “I can fully appreciate the impact of the biotech industry that Harvard and MIT bring...
Gwaltney's favorite combo is a curious mix of high-and low-tech treatments: a quick squirt into the nose of the biotech drug interferon, followed by two over-the-counter pills--an anti-inflammatory like ibuprofen (such as Advil or Motrin) and a so-called first-generation antihistamine like chlorpheniramine (such as Chlor-Trimeton). The interferon primes the immune system to unleash its antiviral defenses while the ibuprofen and the chlorpheniramine keep the inflammatory processes under control...