Biotech products are seen as harder to copy (me too drugs), require an expensive-to-validate pipeline (like vaccines), and look very attractive as a novel mechanism of action (as compared to traditional small molecule drugs). Most pharmas are inexpert in large bio-molecule mechanisms and drug design, and the fact that small molecule high-throughput-screening infrastructure cannot compete in that space makes it attractive as a game changer. (Since HTS has not shown the ROI that was hoped.) Many also see RNA-based or immune-based therapies as the next revolution in drugs.
