There is good news today for those who see their future in the biotechnology sector, as University College Dublin and Elan Corporation announce a 3m initiative designed to create a leadership position in the global biotechnology industry.
The UCD Elan initiative is expected to run for at least seven years and will include a newly appointed chair position – the Business of Biotechnology, which will sit at the intersection of the UCD Smurfit Graduate School of Business and the UCD College of Science – as well as two new post-doctoral scholarships and an annual lecture series that highlights management leadership in the dynamic and ever-changing world of biotechnology on a global basis. In addition, Elan will contribute to UCD’s new Science Centre that is nearing completion. The total Elan contribution is expected to be in excess of €3m.
“We are delighted to have the opportunity to work closely with the leadership and faculty of one of Europe’s leading universities on this ground-breaking initiative,” said Kelly Martin, chief executive officer, Elan Corporation.
“Rapid advancements in biology, computational application and diagnostics combined with the globalisation of the biotechnology industry require future business leaders to have the skills and expertise to manage a portfolio of assets within the environment of a dynamic and ever changing risks/reward equation. Future industry and company success will be defined by those with the ability to make good decisions within this integrated space.
“Business leaders will need to balance complex and multi-dimensional considerations such as patient requirements and personalised medicine which needs to take into account genetic markers and scientific discovery that can be accelerated by advancing approaches to drug discovery. The effective management of complex regulatory and legal frameworks, along with global pricing and reimbursement will also be a prerequisite to success.”