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Growth and profitability in small privately held biotech firms: preliminary findings

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Abstract

This paper reports on preliminary findings on a study of the relationship of growth and profitability among small privately held Finnish Life Science firms. Previous research results concerning growth and profitability are mixed, ranging from strongly positive to a negative relationship. The conventional wisdom states that growth is a prerequisite for profitability. Our results suggest that the reverse is the case. A high profitability-low growth biotech firm is more probably to make the transition to high profitability-high growth than a firm that starts off with low profitability and high growth. © 2009 Elsevier B.V. All rights reserved.

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Brännback, M., Carsrud, A., Renko, M., Östermark, R., Aaltonen, J., & Kiviluoto, N. (2009, June). Growth and profitability in small privately held biotech firms: preliminary findings. New Biotechnology. https://doi.org/10.1016/j.nbt.2009.03.006

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