AbbVie: "First-in-Class Is Not Essential... Differentiation Alone Is Enough"

April 29 'BIO KOREA 2026' Media Interview

Key Deal Evaluation Criteria: 'Science, Differentiation, and IP'

Encourages Ongoing Communication With Big Pharma

"It doesn't always have to be first-in-class. As long as there is a differentiated profile, it can be a sufficient investment target."

Sridhar Gopal Mandapati, Head of International Business Development at AbbVie, made these remarks during a media interview at COEX in Gangnam-gu, Seoul, on the 29th, as part of BIO KOREA 2026. He was referring to the innovation of Korean biotechs in the ADC (antibody-drug conjugate) and bispecific·trispecific antibody sectors. He stated, "There has been a lot of innovation in these areas in Korea, and we are paying close attention," emphasizing that technological differentiation is more important than simply being the first. Mandapati is an expert with over 25 years of experience in global pharmaceutical business development, and he currently oversees AbbVie's late-stage pipeline for all markets outside the United States. Having joined AbbVie after previously working at AstraZeneca, he has led numerous mergers and acquisitions (M&A) and licensing agreements.

Sridhar Gopal Mandapati, Head of International Business Development at AbbVie, is speaking at a media interview held on the 29th at COEX in Gangnam-gu, Seoul, during BIO KOREA 2026. Photo by Kwak Minjae

AbbVie, where he works, is a global top-tier pharmaceutical company with annual sales exceeding 60 billion dollars. The company focuses on immunology, oncology, and neuroscience, and has recently expanded investments in obesity and pain management. Sixty-four percent of AbbVie's pipeline has come from external sources, and 60% of its revenue is also generated from these external products. AbbVie pursues external collaboration through various avenues such as licensing-in, M&A, and early-stage technology partnerships. Mandapati stated, "Last year, we closed 17 deals, and we are currently working on about 250 collaborations," adding, "We manage every collaborative product with the same meticulous approach as our in-house products."

He outlined three key criteria for deal evaluation: science, differentiation, and intellectual property (IP). Mandapati explained, "The most important factor is investment in science. We look at the science behind the product, the concepts involved, and how they could evolve into future products." Regarding differentiation, he said, "We also consider how the product could change the current standard of care for patients and assess its competitiveness in the market." He added, "A comprehensive evaluation of all these aspects leads to a final assessment."

He gave a positive assessment of the competitiveness of Korean biotechs. Mandapati said, "Korean companies possess all the right scientific characteristics and quality materials. They have everything needed to successfully develop products." Referring to the Innovator Award applicants announced at the BIO KOREA 2026 event that day, he commented, "All the applicants demonstrated strong scientific features." However, he also stressed the importance of collaboration, saying, "Biotechs need to work well with pharmaceutical companies to move on to the next stage."

He also offered advice to biotechs seeking partnerships. "Pharmaceutical companies may say that the timing isn't right for a partnership now, but don't be discouraged. If you keep developing your data and maintain communication, a deal can still happen," he advised, encouraging active use of conferences and partnering days to create more opportunities for contact. AbbVie is preparing a partnering event this September. Mandapati stated, "We expect even more teams to participate and seek partnerships than before."

This content was produced with the assistance of AI translation services.