Once such a patent has been obtained, investors have reason to wait many years for revenues to start flowing. They know they own something real, which hasn't been the case with many of the mercurial dot-com companies. A final, crucial difference is that government has a decisive role in biotechnology. The Microsoft case caused convulsions because government antitrust rules intruded on an industry that had been largely free from regulation. But for biotech, the regulatory embrace is inescapable.
Technology companies thrive by taking risks.
But in biotech, this entrepreneurial culture will have to coexist with the bureaucratic culture of the Food and Drug Administration, which exists to avoid risks. The Washington Post Company Related Links Other Articles . News Jobs AP Shopping Archives Entertain.