PHARMA has a +defined/validated/fair #businessmodel. Sub-licensing assesses opportunity by peak sales of the drug and anticipates revenue + royalties for #bioprospecting. Future contracts finance development. The risk of each stages is mapped. It can be improved, but it's good.4⃣

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#COSMETICS does not have a defined #businessmodel for #DISCOVERY. It uses small quantities in many products. Evaluates based on the volume supplied and not sold. It invests little and less in #bioprospecting which is not systematic. But… 5⃣