Date: May 25, 1998
Author: David P. Holveck
To most people, the term biotechnology evokes the image of speculative innovation, of a research-driven, technology-based industry focused on developing novel approaches to diseases. Today, this picture is fundamentally accurate. But in the current health care environment, the biotech image is limited in scope. The term itself can create artificial boundaries between such key constituents as employees and investors, which can inhibit development and stifle growth.
How companies describe themselves today is vitally important and defining. A name can be a critical factor in a company's growth process. Names shape views, convey messages, or elicit responses--good, bad, or indifferent. They can be instruments through which companies--or industries--gain focus and develop an identity that fosters growth.
Our company, Centocor, reflects this aspect of our industry's development, as we evolve from being a biotech company to a biopharmaceutical or biopharma organization. We are in...