[Next-Generation Sequencing Book]
  • [Photo] J.W. Bizzaro • June 1, 2004
    Here's an article by Karen Southwick:

    ``In early 2000, IBM research executives Carol Kovac and Jeff Augen were kicking around the notion of how the company could play a larger role in the fast-growing life sciences arena.

    ``Although IBM had scientists working in the field, `it was pure research,' said Augen, who at the time was director of emerging technologies. There was a considerable gap in translating that research into sales of equipment and services to the pharmaceutical and biotech industries.

    ``So Augen and Kovac, an IBM research vice president, put together an aggressive plan to get to $100 million in revenue in the first year and turn cash-flow positive by the third year. Those goals were met, Augen said, as they grew revenue by $500 million in just two years.

    ```We at IBM believe that within the next three to five years, the transformation of health care will be under way,' Kovac said, offering `probably the greatest new market opening in IT that we see on the horizon.'''

    Full story:
    http://news.com.com/IBM+looms+large+in+life+sciences+quest/2100-1011-5222821.html

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