Business Models in the Spanish biotechnology firms.

Abstract

The last few years have witnessed a growing emergence of biotechnology industry in Spain. In this study we will reveal the asymmetric behaviour of the business models being followed by the Spanish biotech firms. This asymmetry is founded on the overwhelming dominance of the business models linked to low investments, limited R&D expenditures and minor or incremental innovations, whereas the long term - long return model, dominant in the leading countries, is practically inexistent in the Spanish environment.