Nektar Therapeutics

“Nektar Therapeutics” examines a drug program within a biopharmaceutical company that specializes in drug delivery and formulation technologies. Through the company’s 16-year history, it developed technologies and then established partnerships that would bring the products through clinical development and into the marketplace. The drug program in question offers the company opportunities either to build its own sales force (a major change to the company’s foregoing strategy) or to establish a partnership that would market and sell the drug (a more incremental strategic change). All of these decisions take place within a public company that has announced that it should become profitable just before the new drug in question would hit the market if the FDA approves it.