On the life sciences stage, Pharma and Biotech are often viewed as playing separate roles with distinctly different scripts. But behind the curtain, the reality is that both share the same common goal – to discover and develop medicines that save lives – and both seek to achieve this in an increasingly competitive and regulated environment, facing many of the same challenges.
But while Pharma and Biotech may sing from the same hymn sheet, and employees need similar technical qualifications to work in either arena, there are notable distinctions between the two, particularly when it comes to company culture.
Isaac Smith, Biotech specialist and talent executive at Singular, sets out a series of questions for career scientists to consider if you are thinking of moving to a Biotech role, and highlights some of the softer skills that will help make the switch successful.
1. Are you willing to wear multiple hats?
Pharma companies are typically much larger organisations with clear hierarchies and separate departments. In contrast, Biotech companies are usually smaller but more agile, with a simpler organisational structure. Being smaller, Biotechs often encourage interdisciplinary teams that work closely together on various aspects of product development, breaking away from traditional departmental boundaries.
The need to wear many hats within a Biotech team can lead to a more diverse and dynamic work experience – you will be exposed to more aspects of the business than you might be at a more structured company. In many cases, this opens up faster routes to promotion.
2. Do you want to feel part of the company vision?
Due to the more layered organisational structures within Pharma companies, one of the biggest challenges many face is lengthy delays in decision making. By contrast, with fewer executives and shareholders, biotechs tend to operate far more efficiently. Teams often experience greater control over the company vision and can pivot more swiftly when required.
3. Are you risk averse?
Often juggling multiple research avenues at once, larger Pharma companies can abandon a specific area reasonably painlessly if it doesn’t yield the anticipated results. Because start-up or early stage Biotechs typically concentrate on a single area, the consequences of a failed project can have a far greater impact on the company as a whole.
With this in mind, the future for an early-stage Biotech is unlikely to be set in stone, and the need to balance project management with risk management may give you a sense of insecurity that you might not experience in a larger Pharma company. It’s therefore important to have a resilient mindset and attitude to succeed in a start-up environment.
4. Do you want to work at the forefront of innovation?
By their very nature, Biotechs are hubs for innovation. They often have a faster-paced work environment and can be more agile in responding to emerging trends and technologies. The start-up or entrepreneurial culture Biotechs offer encourages a sense of ownership and innovation among employees, which is particularly appealing to individuals who enjoy a less ordered structure and want to contribute to building something from the ground up.
5. What do you want to accomplish in your career?
Ultimately, the choice between Pharma and Biotech depends on your individual preferences and career goals. It may be that you thrive in the dynamic and innovative environment of a Biotech start-up, and relish the opportunity to make a direct impact and push medical discoveries to the cutting edges. Others may prefer the stability and global reach of a pharmaceutical giant, valuing the chance to contribute to a diverse portfolio with a broader societal impact.
Soft skills: key to the transition
The move from Pharma to Biotech isn’t for everyone. Technical, hard skills come with years of industry experience, but the pivotal question remains: can you effectively apply these skills within the dynamic culture of Biotech?
While it can be tempting to focus solely on gaining technical and scientific skills in your career, developing core soft skills can pave the way to success. Resiliency, adaptability, drive and a willingness to wear multiple hats should stand you in good stead if you are looking to cross the bridge. Find out more about the top soft skills needed to thrive in the Biotech industry here.
How we can help
At Singular, our passion is to connect talented people to jobs and companies they love. We’re here to support and advise you as you navigate the search, hiring, and onboarding process for your next role. If you’re ready to make the switch into Biotech, or are considering you next career move, please get in touch with Isaac today.
