How to make QLT a top ten biotechnology company: Strategic analysis of growth opportunities

QLT's vision is to become a top ten biotechnology company by 2010. We analyze QLT's growth strategy within the context of the biotechnology industry and QLT's internal environment, and suggest growth objectives and strategies to achieve a top ten ranking. QLT's current projected growth rate is short of achieving this goal; QLT needs to increase its annualized average growth rate to 37%, revenues to $700 million and profits to $220 million by 2010. To achieve these targets QLT needs a broader development pipeline and more diversified commercial revenues, which can be accomplished by adding sales capabilities, and expanding the product pipeline and revenue potential through product in-licensing or partnering, and mergers and acquisitions with companies such as Ligand Pharmaceuticals. QLT should also build its core capabilities in innovative drug delivery platforms and focus on markets with high unmet medical needs to build a higher profile in the biotechnology industry.