The Financial Times article “Why bigger is not always better in biotech” argues that while size can be an advantage in many industries, it is not necessarily the case in biotech. In fact, the article suggests that smaller, more agile companies may be better equipped to respond to the complexities and rapid changes in this field. This is due to a number of factors, including:

* A smaller company’s ability to be more nimble and adaptive, allowing it to pivot quickly in response to new data or market trends.
* The importance of innovation and risk-taking, which is often stifled in larger, more bureaucracy-ridden companies.
* The need for collaborative and open-minded cultures, which can be more difficult to achieve in larger organizations.

The article also notes that many successful biotech companies, such as CRISPR Therapeutics and Novartis, have achieved success without being the largest players in their fields. Overall, the article concludes that while size can be an advantage in some industries, it is not necessarily the case in biotech, where size is not necessarily a guarantee of success.