From Breakthrough to Blockbuster: The Business of Biotechnology

In a market dominated by Big Pharma, small biotech companies have transformed the creation of new medicines, creating nearly 40 percent more of the most crucial medical treatments — and doing so on a budget. How has this been possible? In From Breakthrough to Blockbuster: The Business of Biotechnology (Oxford University Press), Drakeman, Drakeman, and Oraiopoulos show how biotech companies have beaten the odds to invent novel medicines with unprecedented efficiency.

Paw in print

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The February 2026 cover of PAW, featuring a photo of Joseph Nye.
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February 2026

Lives Lived & Lost in 2025, Saying ’yes’ to more housing; AI startup stars