Genentech
Joe McCracken is Vice President of Business Development at Genentech, Inc.
In this role, McCracken is responsible for all business development activities at the company, including the identification and negotiation of collaboration and licensing agreements with academic institutions, biotechnology companies and pharmaceutical companies throughout the world. After a seven-year absence, McCracken rejoined Genentech in 2000 as Vice President of Business Development. During his earlier time with Genentech, McCracken served in many capacities, culminating in positions as Director of Business Development and Representative Director of Genentech Ltd., Genentech's wholly owned subsidiary in Japan.
McCracken has more than 19 years of experience in technical, business development and market development roles with biotechnology and pharmaceutical companies. He has also served as Vice President of Technology Licensing and Alliances at Aventis, and Vice President of Worldwide Business and Technology Development at Rhone-Poulenc Rorer S.A.
Related Links: www.gene.com
Last Updated: Wed, Nov 1, 2006
| Category | Title | Author/Speaker | Organization | Length | Date |
|---|---|---|---|---|---|
| Podcast | A Culture of Making a Difference | Joe McCracken | Genentech | 58:52 | 11/2006 |
| Video | Genentech's Business Model | Joe McCracken | Genentech | 03:30 | 11/2006 |
| Video | A Novel Approach Towards Sales and Research | Joe McCracken | Genentech | 03:34 | 11/2006 |
| Video | Why is Genentech the Best Company to Work for? | Joe McCracken | Genentech | 01:22 | 11/2006 |
| Video | Impact of Generics on the Biotechnology Industry | Joe McCracken | Genentech | 02:20 | 11/2006 |
| Video | Venture Capital in Biotech | Joe McCracken | Genentech | 04:41 | 11/2006 |
Joe McCracken, Vice President of Business Development at Genentech, walks through the founding and growth phase of the company. In particular, McCracken describes the culture at Genentech, which is credited for consistent ground breaking R&D and the resulting financial success.
Joe McCracken, Vice President of Business Development at Genentech, describes Genentech's business model where commercialization takes a back seat to science. He differentiates this from other typical pharmaceutical companies and shows how this affects the culture at Genentech. He credits this approach for the successful innovation of several hugely profitable drugs.
Joe discusses innovative practices put in place in the sales and research organizations within Genentech. He cites the 20% free time and incentives for publishing for scientists and the focus of the sales force on at most two products as major reasons for Genentech's success both in the lab and the marketplace.
In 2006, Fortune ranked Genentech as the best company to work for. McCracken shares their secret: it is the empowerment of the employees and the validation of their hard work, which comes in the form of gratified patients.
Joe comments on the widely held debate in the biotechnology industry about the legality and effectiveness of generic drugs. Joe feels that as long as the follow-on biologics are effective and safe, they would be great for the industry. He states the Genentech will compete by continually innovating better drugs.
Joe discusses the recent lack of investment in biotech. He explains that after the biotech bubble in 2000, VCs have been hesitant in investing in biotech companies, and this has led to a slowdown in innovation in the industry.